California’s Incentive Project Offers $45,000 Cash Voucher, Making EVs Accessible for Businesses
Mullen Automotive’s (MULN) 2024 Mullen THREE electric truck has received a significant boost in affordability with the approval from the California Air Resources Board (CARB) for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). Under this program, the Mullen THREE now qualifies for a rebate of up to $45,000, making it accessible for businesses seeking to electrify their fleets.
With a suggested MSRP of $68,500, the Mullen THREE’s net effective cost can be reduced to less than $17,000 when combined with the available $7,500 federal tax credit. This substantial reduction in cost positions the Mullen THREE as a compelling option for companies looking to transition to electric vehicles and reduce their carbon footprint.
The HVIP program, launched by CARB in 2009 as part of California Climate Investments, accelerates the adoption of zero-emission and near-zero-emission technologies by providing point-of-sale vouchers to make advanced vehicles more affordable. Mullen’s approval for the HVIP program marks a significant milestone in the company’s mission to make sustainable transportation solutions accessible and cost-effective for businesses across California and beyond.
The Mullen THREE is a Class 3 low cab forward EV truck designed to meet the demands of urban last-mile delivery. With a robust payload, 125-mile range, and versatile chassis, it offers businesses a practical and environmentally friendly solution for various vocational needs, including delivery, construction, landscaping, and catering.
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