Mullen Automotive, Inc., an electric vehicle manufacturer, today announces it will establish Mullen Credit Corporation aimed at supporting its expanding dealership network with vehicle floor planning. Additionally, MCC will provide fleets and small business customers with attractive financing options. Mullen Credit Corporation will be a wholly owned subsidiary of Mullen Automotive. Floor planning enables dealerships to finance inventory upfront and pay back the loan plus interest when the vehicle is sold.
“Our business is experiencing rapid growth, with projected sales for 2025 expected to increase significantly. Consequently, our financing needs have also evolved,” said David Michery, chairman and CEO, “Mullen Credit Corporation will provide financing flexibility for our dealers and customers as we pursue accelerated growth and expand our market share.”
Mullen’s commercial EV lineup includes the Mullen ONE, Class 1 EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck, purpose-built to meet the demands of urban last-mile delivery. Both vehicles are available for sale and in full compliance with U.S. Federal Motor Vehicle Safety Standards, EPA and CARB certifications.
Mullen’s commercial dealer network includes the recently announced Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service in key West Coast, Midwest, Pacific Northwest, New England and Mid-Atlantic markets.
The Mullen THREE recently qualified for a $15,000 incentive through the State of Massachusetts MOR-EV program and a $45,000 cash rebate voucher through the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program (HVIP). The Mullen ONE is also eligible for the MOR-EV program with a $3,500 rebate in Massachusetts. When combined with the $7,500 Federal Tax Incentive, both vehicles offer substantial savings for commercial fleet customers.
