Mullen Automotive Begins Class 3 EV Deliveries
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive, Inc. (NASDAQ:MULN) has delivered the first ten Class 3 EV Cab Chassis Trucks, invoiced at $630,000, to Randy Marion Automotive Group. These vehicles are part of a 1,000 vehicle order valued at $63 million. An additional 150 units are planned for delivery by the end of 2023, with the remainder to be delivered throughout 2024. The company recently received federal EPA certification and IRS approval as a 'qualified manufacturer', qualifying for up to $7,500 in federal EV tax credits.
September 28, 2023 | 1:13 pm
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POSITIVE IMPACT
Mullen Automotive has started delivering its Class 3 EV trucks, marking a significant milestone for the company. The recent EPA certification and IRS approval could also boost investor confidence.
The news of Mullen Automotive beginning deliveries of its Class 3 EV trucks is a positive development for the company, indicating progress in its operations. The recent EPA certification and IRS approval as a 'qualified manufacturer' further enhance the company's credibility and could potentially lead to increased sales due to the federal EV tax credits. This could have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100