Princeton’s first electric vehicle order from Mullen includes a Class 3 electric truck with box body and lift conversion

Princeton University’s fleet includes more than 350 vehicles

Mullen’s commercial electric vehicle offering helps college campuses meet greenhouse gas reduction goals

Mullen THREE’s first Class 3 electric vehicle order includes lift-mounted vans to support Princeton’s campus operations unit

BREA, Calif., Aug. 19, 2024 (GLOBE NEWSWIRE) — about IBN – Mullen Automotive, Inc. (NASDAQ: MUL) (“Mullen” or the “Company”), a manufacturer of electric vehicles (“EV”), today announces the sale of the Mullen THREE, a Class 3 EV van designed for Princeton University‘S (“Princeton”), an operating unit based in Princeton, New Jersey. Princeton’s operating unit has selected the Mullen THREE to support campus operations and contribute to its overall sustainability goals, including achieving zero emissions for the University’s on-campus service vehicles. The vehicle order will be fulfilled by Mullen’s nationally known EV dealer partner, Pritchard EV.

Princeton University’s transportation fleet includes over 350 vehicles—owned and leased cars, vans, trucks, golf carts, and construction vehicles—to transport people and things around campus and the surrounding area. Autumn 2023The university has launched a new fleet of 17 electric buses and charging facilities as part of a campus-wide plan to achieve net-zero carbon emissions by its 300th anniversary in 2046.

Princeton University’s Operations Department chose the Mullen THREE because of its commitment to environmental protection, its emission-free operation and its overall versatility.

“We are proud to support Princeton on its journey to becoming a net-zero carbon campus,” said David Michery, CEO and chairman of Mullen Automotive. “This acquisition represents a significant milestone for Mullen as we continue to expand our presence in the higher education sector.”

The all-electric Mullen THREE Class 3 Low Cab Forward EV Truck features a robust payload, 125-mile range and is specifically designed for the needs of urban last-mile delivery. The Mullen THREE chassis features a clean top-of-rail design that supports a variety of conversions for vocational needs; for last-mile delivery, construction, landscaping, catering and more. The Mullen THREE was recently selected for a $15,000 incentive through the MOR-EV program of the State of Massachusetts and a $45,000 Cash Rebate Voucher through the California Voucher Incentive Program for Hybrid and Zero-Emission Trucks and Buses (HVIP).

Mullen’s commercial electric vehicle lineup also includes the Mullen ONE, a Class 1 electric van. Both the Mullen ONE and THREE are available and meet U.S. Federal Motor Vehicle Safety Standards (FMS) as well as Environmental Protection Agency and California Air Resources Board (“CARB”) certifications that demonstrate strict compliance with clean air emissions standards.

About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two vehicle plants in the U.S. 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 electric vehicle tax credits for its commercial vehicles with the Qualified Manufacturer designation, providing eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 electric delivery truck, and the Mullen THREE, a Class 3 electric cab and chassis truck, are certified by the California Air Resource Board (“CARB”) and EPA and available in the U.S. Recently, CARB granted HVIP approval for the Mullen THREE, a Class 3 electric truck, which offers a cash credit of up to $45,000 with the purchase of the vehicle. The company also recently expanded its commercial dealer network to include Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group and Eco Auto, providing sales and service coverage in key markets in the Midwest, West Coast, Pacific Northwest and New England. The company also recently announced approval for Foreign Trade Zone (“FTZ”) status for its commercial vehicle manufacturing center in Tunica, Mississippi. FTZ approval provides a number of benefits, including deferral of tariffs due and elimination of tariffs on exported vehicles.

To learn more about the company, visit www.MullenUSA.com.

Forward-looking statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. All statements in this press release that are not historical facts may be deemed to be forward-looking statements. Words such as “continue,” “will,” “could,” “should,” “expect,” “anticipates,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. Many of these risks and uncertainties are generally beyond Mullen’s control and are difficult to predict. Examples of such risks and uncertainties include, among others, the timing of delivery of the vehicle on order, whether additional vehicles will be ordered by Princeton University or other schools or agencies, and how long local and federal incentives for electric vehicles will be available. Additional factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements can be found in Mullen’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Mullen anticipates that future events and developments may cause its plans, intentions and expectations to change. Mullen undertakes no obligation, and expressly disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.

contact:
Mullen Automotive, Inc.

+1 (714) 613-1900
www.MullenUSA.com

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
InvestorBrandNetwork.com
310.299.1717 Office
[email protected]

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