Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
The EV startup Mullen Automotive announced on Monday National Auto Fleet Group as a new dealership in California for its commercial electric fleet.
The company announced recently that intends to expand its commercial vehicle distribution in Europe, aiming to sell 800 units starting later this year. In the statement, Mullen did not specify which European markets it would arrive in.
NAFG will offer Mullen’s full line of all-electric commercial vehicles in Watsonville and Alhambra covering both northern and southern parts of the state.
NAFG will offer Mullen’s commercial EVs to “government agencies nationwide and will simplify the process for public entities”.
Clarke Cooper, from the National Fleet Auto Group, said the firm believes that Mullen “provides municipalities and government fleets with the option they need to transition to electric”.
“Further, the fact that these vehicles are assembled in the United States by Americans upholds the goals we value when we work with public fleets and Sourcewell,” he added.
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Earlier in the day, the company announced a limited duration stockholder rights plan. Essentially, the plan imposes a significant penalty on anyone acquiring 10% or more of the Common Stock without Board approval and will be active until the first of May of 2025.
The Plan does not involve financing, and no additional shares of Common Stock or Preferred Stock or warrants or convertible notes are currently being issued and aims to “promote the fair and equal treatment of all stockholders”.
The company has recently received approval of Mullen Three for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project.
California Air Resources Board (CARB) approved earlier today the 2024 Mullen Three — which starts at $68,500 — making it eligible for up to $45,000 cash voucher. “When combined with the available $7,500 federal tax credit, the net effective cost of the Mullen Three could be less than $17,000,” the company added.
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
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