Mullen Automotive Subsidiary Partners with TCD to Accelerate Clean-Energy Solutions

Mullen Automotive (NASDAQ: MULN), an electric vehicle (EV) manufacturer, has announced a significant partnership agreement with Texas Consulting & Development LLC (TCD). Under this agreement, Bollinger Motors, a subsidiary of Mullen, will supply TCD with Bollinger B4 Class 4 trucks. These trucks will be part of TCD's new bundled service offering to ports and other related industries. TCD plans to leverage the Bollinger B4 to increase sales across various sectors, including commercial and industrial, telecom, and utility.

Bollinger Motors, a U.S.-based company headquartered in Michigan, focuses on developing all-electric commercial chassis cab trucks, specifically in Classes 4-6. The company became a majority-owned subsidiary of Mullen Automotive in 2022. TCD, on the other hand, is known for providing microgrid and virtual power-plant solutions.

This partnership marks a pivotal step for both companies. According to Jim Connelly, chief revenue officer of Bollinger Motors, "The partnership provides another opportunity for the Bollinger B4 to help companies from a wide variety of industries electrify their vehicle fleets as TCD helps their clients develop solutions for overall clean-energy strategies." He further emphasized TCD's leadership in helping companies reduce their carbon footprint, expressing satisfaction that TCD chose the Bollinger B4 as a crucial element in their efforts.

This collaboration is crucial as it underscores an industry-wide push towards clean energy and sustainability. By providing electric trucks to TCD, Bollinger Motors is facilitating the transition of various industries to more eco-friendly practices. This move is expected to have a ripple effect, encouraging more companies to consider electrifying their fleets, thus contributing to a reduction in overall carbon emissions.

Mullen Automotive has been making significant strides in the EV market. The company operates two U.S.-based vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana. In August 2023, Mullen began commercial vehicle production in Tunica. Additionally, in September 2023, the company received IRS approval for federal EV tax credits on its commercial vehicles, offering eligible customers up to $7,500 per vehicle.

Moreover, 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 United States. The Mullen Three also recently received Hybrid and Zero-Emissions Truck and Bus Voucher Incentive Project (HVIP) approval from CARB, providing up to a $45,000 cash voucher at the time of vehicle purchase.

Furthermore, Mullen has expanded its commercial dealer network to include Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, and Eco Auto, ensuring sales and service coverage in key markets such as the Midwest, West Coast, Pacific Northwest, and New England. The company also recently announced Foreign Trade Zone (FTZ) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. FTZ approval offers benefits such as deferment of duties owed and elimination of duties on exported vehicles.

This partnership between Mullen Automotive's Bollinger Motors and TCD is a significant development in the clean energy sector. It highlights the growing importance of sustainable practices and the role of electric vehicles in reducing carbon footprints across various industries.