Mullen Automotive (NASDAQ: MULN) has unveiled a strategic partnership with Emerald Transportation Solutions and the Papé Group to develop a refrigerated upfit for its Mullen THREE, a Class 3 all-electric truck. This collaboration marks a significant step forward in the electric vehicle (EV) industry, particularly for businesses involved in the transportation of perishable goods.
The Mullen THREE, designed with a clean top-of-rail chassis, offers versatility for custom upfitting and boasts an impressive payload capacity of over 5,300 lbs. This makes it an ideal candidate for conversion into a refrigerated vehicle, commonly known as a 'reefer' in the transportation industry. The development of this refrigerated EV truck solution aligns with Mullen's commitment to providing sustainable transportation options for various sectors, including frozen food, grocery, and beverage delivery.
This innovation comes at a crucial time when industries are increasingly seeking environmentally friendly alternatives to traditional fossil fuel-powered vehicles. The refrigerated EV truck has the potential to significantly reduce carbon emissions in the cold chain logistics sector, which has traditionally relied heavily on diesel-powered refrigeration units.
The implications of this development extend beyond environmental benefits. Fleet operators stand to gain substantial cost savings through state and federal incentives available for both the Mullen THREE and Mullen ONE models. These incentives could accelerate the adoption of electric vehicles in commercial fleets, potentially reshaping the landscape of goods transportation.
Mullen Automotive's initiative is particularly noteworthy given the company's recent expansion and achievements. The company has begun commercial vehicle production at its Tunica, Mississippi plant and received IRS approval for federal EV tax credits on its commercial vehicles. This designation as a Qualified Manufacturer allows eligible customers to receive up to $7,500 per vehicle in tax credits, further enhancing the economic appeal of Mullen's electric trucks.
Additionally, the California Air Resource Board (CARB) and EPA certification of both the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, make these vehicles eligible for sale across the United States. The CARB-issued HVIP approval for the Mullen THREE provides an additional incentive, offering up to a $45,000 cash voucher at the time of vehicle purchase.
Mullen's strategic expansion of its commercial dealer network to seven dealers, including the recent addition of Papé Kenworth, strengthens its market presence across key regions in the United States. This expanded network, coupled with the company's Foreign Trade Zone (FTZ) status approval for its Tunica manufacturing center, positions Mullen to potentially capture a significant share of the growing electric commercial vehicle market.
The development of a refrigerated electric truck solution represents more than just a new product offering. It signifies a potential shift in how perishable goods are transported, combining the benefits of electric vehicles with the specific needs of temperature-controlled logistics. This innovation could lead to reduced operating costs for businesses, lower emissions, and potentially improved food safety through more reliable temperature control.
As the transportation industry continues to evolve in response to environmental concerns and technological advancements, Mullen's latest initiative positions the company at the forefront of this transformation. The success of this refrigerated EV truck could pave the way for further innovations in specialized electric vehicles, potentially accelerating the transition to sustainable transportation across various industries.
