Mullen Automotive Inc. (NASDAQ: MULN) Class 3 EV Truck Receives CARB Certification, Joins Class 1 EV Van in Meeting Stringent Emission Standards

• CARB certification is awarded to vehicle manufacturers that meet specific emissions standards in compliance with CARB regulations
• CARB is charged with protecting public from harmful effects of air pollution, developing programs and actions to fight climate change
• “Having both our Class 1 and Class 3 commercial EVs now CARB and EPA certified will continue to drive sales in all states across America,” says Mullen CEO

With environmental concerns becoming an increasing priority, more states, companies, and consumers are paying attention to — and prioritizing — environmentally friendly products and practices. Mullen Automotive (NASDAQ: MULN), an emerging EV manufacturer, shares this commitment to being environmentally responsible. To underscore this commitment, the company announced that its Mullen THREE, an all-electric Class 3 low cab forward chassis truck, has received certification from the California Air Resources Board (“CARB”) (https://ibn.fm/PqLr8).

According to the company, the certification is awarded to vehicle manufacturers that meet specific emissions standards in compliance with CARB regulations. The District of Columbia and 14 states, including California, have adopted vehicle standards that require additional approvals beyond EPA regulations.

In the announcement, Mullen noted that both its Class 1 and Class 3 commercial vehicles are Environmental Protection Agency (“EPA”) and CARB certified. In addition, both vehicles are in full compliance with U.S. Federal Motor Vehicle Safety Standards. With these certifications secured, the Mullen ONE EV van and Mullen THREE EV truck can be sold anywhere in the United States.

“CARB is charged with protecting the public from the harmful effects of air pollution and developing programs and actions to fight climate change,” the California Air Resources Board website explains. “From requirements for clean cars and fuels to adopting innovative solutions to reduce greenhouse gas emissions, California has pioneered a range of effective approaches that have set the standard for effective air and climate programs for the nation, and the world.

“CARB’s mission is to promote and protect public health, welfare, and ecological resources through effective reduction of air pollutants while recognizing and considering effects on the economy,” the website continues. “CARB is the lead agency for climate change programs and oversees all air pollution control efforts in California to attain and maintain health-based air quality standards.”

Gaining CARB certification means that the Mullen THREE EV truck is eligible for important state incentive programs, including involvement with California’s HVIP project, which offers a rebate of up to $45,000. When combined with the federal tax credit of $7,500, the cost for the Mullen THREE, which has a suggested MSRP of $68,500, could be less than $20,000.

“CARB approval accelerates commercialization of the Mullen THREE and makes our vehicle even more appealing to customers who want to electrify their fleets,” said David Michery, CEO and chairman of Mullen Automotive. “Having both our Class 1 and Class 3 commercial EVs now CARB and EPA certified will continue to drive sales in all states across America.”

Mullen Automotive (NASDAQ: MULN) is a Southern California–based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States–based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. Recently CARB issued HVIP approval on the Mullen THREE, Class 3 EV truck, providing a cash voucher of up to $45,000 at the time of vehicle purchase. The company has also recently expanded its commercial dealer network with the addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, and Range Truck Group, providing sales and service coverage in key Midwest, West Coast, and Pacific Northwest markets. The company also recently announced Foreign Trade Zone (“FTZ”) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. FTZ approval provides a number of benefits, including deferment of duties owed and elimination of duties on exported vehicles.

For more information 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

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