Mullen Automotive Receives IRS Approval For Federal EV Tax Credit Of Up To $7,500 On Commercial Vehicles Effective Sept. 14, 2023
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive, Inc. (NASDAQ:MULN) has received approval from the IRS for federal EV tax credits of up to $7,500 per qualified vehicle with gross vehicle weight ratings (GVWRs) of under 14,000 pounds. The Mullen ONE and Mullen THREE are now approved for these credits. Vehicles with GVWR of over 14,000 pounds can qualify for $40,000 federal EV tax credits. The designation was received on Sept. 14, 2023.
September 19, 2023 | 2:01 pm
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Mullen Automotive's approval for federal EV tax credits could boost sales of its commercial vehicles, potentially leading to increased revenues.
The IRS approval for federal EV tax credits makes Mullen's commercial vehicles more attractive to potential buyers, as it lowers the total cost of ownership. This could lead to increased sales and revenues for the company.
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