Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is announcing that the Massachusetts Executive Office of Energy and Environmental Affairs’ Department of Energy Resources (“DOER”) has approved the company’s 2024 Mullen ONE, an all-electric Class 1 cargo van, for up to $3,500 cash voucher under its MOR-EV program. Managed by DOER and administered statewide by the Center for Sustainable Energy (“CSE”), MOR-EV is committed to making electric vehicles more affordable for Massachusetts residents, businesses and non-profit organizations to help achieve clean transportation goals and reduce greenhouse gas emissions and provide more equitable access to EVs. The announcement noted that under MOR-EV, the 2024 Mullen ONE EV cargo van, with a suggested MSRP of $34,500, now qualifies for up to $3,500 cash voucher. In addition, when this rebate is combined with the available $7,500 federal tax credit, the net effective cost of the Mullen ONE would be approximately $23,500. “Both the Mullen ONE and THREE are now eligible for the MOR-EV rebate, making our Commercial EVs even more affordable for Massachusetts businesses,” commented David Michery, CEO and Chairman of Mullen Automotive. “We’re committed to making Mullen Commercial EVs accessible nationwide and securing state-level incentives like the MOR-EV program is a key part of this strategy.”

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About Mullen Automotive Inc.

Mullen 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. For more information about the company, visit www.MullenUSA.com.

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