Mullen Automotive Secures Rebate For Its EV Truck In Massachusetts: Details
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive (NASDAQ:MULN) announced that its 2024 Mullen THREE electric truck has been approved for a $15,000 state rebate in Massachusetts, in addition to a $7,500 federal tax credit. The company also added Eco Auto as a new franchise dealer in the Boston area, which has placed an initial order for Mullen's commercial EVs. Despite these positive developments, MULN shares are trading lower by 2.83% to $2.75.
June 11, 2024 | 3:59 pm
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Mullen Automotive's 2024 Mullen THREE electric truck has been approved for a $15,000 state rebate in Massachusetts, and the company has added Eco Auto as a new franchise dealer. Despite these positive developments, MULN shares are trading lower by 2.83%.
The approval for a $15,000 state rebate and the addition of a new franchise dealer are positive developments for Mullen Automotive. However, the stock is currently trading lower, possibly due to broader market conditions or investor sentiment. The rebate and new dealership could positively impact the stock in the short term as they enhance the company's market presence and product affordability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100