Mullen Automotive Expands into Higher Education with Princeton University EV Sale

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (EV) manufacturer, has made a notable advancement in the higher education market with the sale of its Mullen THREE, Class 3 EV box truck to Princeton University. This transaction represents a significant milestone for Mullen as it continues to expand its presence in the education sector and supports institutions in their pursuit of sustainability goals.

The Mullen THREE, a zero-emissions vehicle, will be utilized by Princeton University's facilities operations unit to support campus operations. This acquisition aligns with Princeton's ambitious sustainability objectives, which include achieving zero emissions for on-campus university service vehicles. The university's decision to select the Mullen THREE was based not only on its environmentally friendly operation but also on its overall versatility, making it an ideal choice for various campus tasks.

David Michery, CEO and chairman of Mullen Automotive, expressed pride in the company's collaboration with Princeton, stating, "We are proud to work with Princeton in their journey towards a net-zero carbon emissions campus." This partnership underscores the growing importance of sustainable transportation solutions in academic settings and highlights Mullen's role in facilitating this transition.

The sale was facilitated through Mullen's nationally recognized EV dealer partner, Pritchard EV, demonstrating the company's effective distribution network and ability to reach diverse institutional customers. This collaboration between Mullen, Pritchard EV, and Princeton University exemplifies the increasing cooperation between EV manufacturers, dealers, and educational institutions in advancing sustainable transportation initiatives.

Mullen Automotive's expansion into the higher education sector is particularly noteworthy given the company's recent developments. In August 2023, Mullen began commercial vehicle production at its Tunica, Mississippi plant, and in September 2023, it received IRS approval for federal EV tax credits on its commercial vehicles. These milestones, coupled with the California Air Resource Board (CARB) and EPA certification of both the Mullen ONE and Mullen THREE, position the company as a competitive player in the commercial EV market.

The sale to Princeton University not only showcases Mullen's product appeal but also highlights the growing demand for electric vehicles in institutional settings. As universities and colleges across the nation strive to reduce their carbon footprint, the adoption of EVs for campus operations is likely to increase, presenting significant opportunities for manufacturers like Mullen Automotive.

This development may also inspire other educational institutions to consider similar initiatives, potentially accelerating the adoption of electric vehicles in the higher education sector. As more universities seek to implement sustainable practices and reduce their environmental impact, partnerships with EV manufacturers could become increasingly common.

For Mullen Automotive, this sale represents more than just a single transaction; it serves as a testament to the company's ability to meet the specific needs of institutional clients and contribute to broader sustainability goals. As the company continues to expand its presence in the higher education sector, it may find additional opportunities to showcase its vehicles' capabilities and support institutions in their transition to cleaner, more efficient transportation solutions.