Mullen Automotive lands cash rebate in Massachusetts for its EV truck

Mullen Automotive (NASDAQ:MULN) announced on Monday that the Massachusetts Executive Office of Energy and Environmental Affairs’ Department of Energy Resources has approved the company’s all-electric Class 3 low cab forward truck for up to a $15,000 state cash rebate voucher.

Under the state’s program, the 2024 Mullen Three EV truck, with a suggested MSRP of $68,500 now qualifies for up to a $15,000 cash rebate voucher. When combined with the available $7,500 federal tax credit, the net effective price of the Mullen Three would be approximately $46,000.

The company recently announced that it is now in receipt of CARB approval for both 2024 and 2025 Class 3 model years. Mullen’s Class 1 and Class 3 commercial vehicles are both in receipt of Environmental Protection Agency and CARB certifications and in full compliance with U.S. Federal Motor Vehicle Safety Standards.

Shares of Mullen Automotive (MULN) fell 2.12% in morning trading on Tuesday.