Mullen Automotive has secured a significant order for its all-electric Class 3 Mullen THREE trucks from Cashflow on Wheels, a Houston-based logistics company that serves major clients including FedEx and Amazon. The order, valued at approximately $1.4 million, represents a strategic move toward electrifying commercial vehicle fleets.
The logistics company's decision to transition to electric vehicles was driven by compelling economic incentives, specifically identifying potential cost savings of over $500 per route per week through EV testing. This order will be fulfilled by Mullen dealer Pritchard Automotive, highlighting the company's expanding commercial dealer network.
Mullen's recent achievements position the company competitively in the commercial electric vehicle market. In August 2023, the company began commercial vehicle production in Tunica, Mississippi, and in September 2023, received IRS approval for federal EV tax credits. Both the Mullen ONE cargo van and Mullen THREE truck are now California Air Resource Board and EPA certified for sale in the United States.
The Mullen THREE truck comes with additional financial incentives, including a California Air Resource Board Hybrid and Zero-Emission Truck and Bus Voucher Project (HVIP) approval that provides up to $45,000 in cash vouchers at the time of purchase. These incentives could make electric vehicle adoption more attractive for businesses seeking to reduce operational costs and environmental impact.
With seven dealers now in its network covering key markets across the Midwest, West Coast, Pacific Northwest, New England, and Mid-Atlantic regions, Mullen is strategically expanding its reach in the commercial electric vehicle sector. The company's recent Foreign Trade Zone status approval for its Tunica manufacturing center further enhances its operational flexibility by offering potential duty deferments and elimination of duties on exported vehicles.
The order from Cashflow on Wheels represents more than a single transaction; it signals a potential broader trend of logistics and service-oriented businesses exploring electric vehicle technologies to reduce operational expenses and support sustainability goals. As companies increasingly prioritize cost-efficiency and environmental responsibility, electric commercial vehicles may become a more prominent solution in transportation and logistics industries.
