Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has filed an ATVM loan application with the U.S. Department of Energy (“DOE”). The loan is for the company’s ONE EV Cargo Van Program. According to the announcement, the application was filed on April 29, 2022, after the company submitted the prequalification requirement and then was invited to submit the formal application. One of the first electric commercial vehicle offerings, Mullen’s ONE EV is designed to be a Class 1 light commercial cargo van rated under 6,000 pounds GVRW. The Energy Independence and Security Act of 2007 authorized the ATVM loan program, which is designed to support the manufacturing of eligible light-duty vehicles and qualifying components in the United States. According to the announcement, the DOE has closed on more than $8 billion in loans through the program. “We are proud to announce the submission of our ATVM loan application for the Mullen ONE EV Cargo van program,” said Mullen Automotive CEO and chair David Michery in the press release. “We began our ATVM loan journey in 2019, and the DOE has been following our progress since then. I want to thank the entire Mullen Automotive team for working diligently on this submission. I also want to thank the DOE for their continued support of our initiative to put Americans back to work. This is a huge milestone for us, with many more to follow.”
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About Mullen Automotive Inc.
Mullen is a southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. To learn more about the company, visit www.MullenUSA.com.
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