Mullen Automotive Lands Significant Order for Electric Trucks
A Boost for Mullen’s Bottom Line
Mullen Automotive, Inc. (NASDAQ:MULN) shares are taking a hit on Tuesday, despite a major win for its subsidiary, Bollinger Motors. The company has secured a follow-on order from TEC Equipment for seven all-electric 2025 Bollinger B4 trucks, marking a significant milestone in their partnership.
TEC Equipment Doubles Down on Bollinger B4
This is TEC Equipment’s second order of Bollinger B4 trucks, following its initial purchase of three B4s on October 30. The latest trucks will be delivered to TEC dealer locations in California, Oregon, and Washington. According to Jim Connelly, chief revenue officer of Bollinger Motors, “This transaction reaffirms our mutual commitment to bringing innovative vehicle solutions that help our customers improve both their bottom line and the communities they operate in.”
California’s HVIP Program Gives Bollinger B4 a Boost
Last month, the Bollinger Motors 2025 Bollinger B4 truck qualified for California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). Under HVIP, the 2025 Bollinger B4 EV truck now qualifies for up to a $60,000 cash voucher. When combined with the available $40,000 federal tax credit, the net effective cost of the B4 could be less than $59,000.
Mullen Expands Its Reach with Emerald and Papé Partnership
In addition to the TEC Equipment order, Mullen has partnered with Emerald and Papé to develop a refrigerated upfit for its Mullen THREE Class 3 electric truck. This partnership further expands Mullen’s offerings and capabilities in the electric vehicle market.
Market Reaction
Despite the positive news, MULN shares are down 7.11% at $2.35 as of Tuesday’s last check.
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