Tuesday, September 19, 2023

QualityStocksNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Receives IRS Approval as ‘Qualified Manufacturer,’ Qualifies for Federal EV Tax Credit

 Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has received approval from the IRS for its “qualified manufacturer” designation. The designation means the company qualifies for commercial EV federal tax credits of up to $7,500 per qualified vehicle with gross vehicle weight ratings (“GVWRs”) of under 14,000 pounds. According to the announcement, both the Mullen ONE, a class 1 EV Cargo Van, and the Mullen THREE, a class 3 EV Cab Chassis Truck, meet the qualifications and are approved for the tax credits. The announcement also noted that, according to IRS regulation, vehicles with gross vehicle weight ratings of more than 14,000 pounds can qualify for $40,000 federal EV tax credits. As a result of the designation, Mullen will be listed on the IRS website as a qualified manufacturer within the next two weeks. The company noted that tax credits such as these combined with lower fuel and maintenance costs show a clear advantage for Mullen’s commercial offerings compared to traditional internal combustion vehicles. “This is part of fulfilling our commitment to customers,” said Mullen Automotive CEO and chair David Michery in the press release. “This presents a great opportunity to purchase a commercial vehicle while optimizing all available federal incentives.”

To view the full IRS Qualified Manufacturer list, visit https://ibn.fm/yQ9Np

To view the full press release, visit https://ibn.fm/EapIi

About Mullen Automotive Inc.

Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover; the Mullen I-GO Commercial Urban Delivery EV; the Mullen commercial class 1–3 EVs; and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4–6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all Electric Last Mile Solutions (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

About QualityStocks

QualityStocks (“QS”) is a specialized communications platform with a focus on private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, QS is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, QS brings its clients unparalleled recognition and brand awareness. QS is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.QualityStocks.com

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-published: https://www.QualityStocks.com/Disclaimer

QualityStocks
Scottsdale, AZ
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com

QualityStocks is powered by IBN

No comments: