University of Virginia Expands Electric Vehicle Fleet with Mullen Automotive Order

Mullen Automotive (NASDAQ: MULN), an emerging player in the electric vehicle (EV) manufacturing sector, has secured a new order from the University of Virginia (UVA) for its Mullen One Class 1 EV cargo van. This latest purchase builds upon a previous order placed by the university last year, signaling a continued commitment to sustainable transportation solutions in higher education.

The order will be fulfilled through Mullen's commercial retail dealer partner, Randy Marion Automotive Group (RMA), reinforcing the company's distribution network. This development comes on the heels of a larger $7.7 million order for 180 vehicles from another dealer partner, Eco Auto, demonstrating a growing market demand for Mullen's electric commercial vehicles.

UVA's decision to expand its electric vehicle fleet aligns with its ambitious sustainability goals. The university aims to achieve carbon neutrality by 2030 and fossil fuel independence by 2050, while also targeting a 30% reduction in nitrogen losses by 2030. Mullen's electric vehicles are positioned to play a crucial role in helping UVA meet these environmental objectives.

David Michery, CEO and chair of Mullen Automotive, expressed pride in partnering with UVA, stating, "We're seeing a significant and growing demand for electric vehicles in the higher education sectors as universities lead the transition to clean energy. We are confident that our vehicles will contribute significantly to UVA's sustainability initiatives."

The increasing adoption of EVs by universities like UVA reflects a broader trend in the education sector towards embracing sustainable technologies. As institutions of higher learning often serve as trendsetters and role models for environmental stewardship, their choices in fleet vehicles can have a ripple effect on broader societal adoption of clean energy solutions.

Mullen Automotive's ability to secure repeat business from a prestigious institution like UVA underscores the quality and reliability of its electric vehicles. The company's commercial EV lineup, which includes the Mullen One and Mullen Three, has received necessary certifications from the California Air Resource Board (CARB) and the Environmental Protection Agency (EPA), making them eligible for sale across the United States.

Furthermore, Mullen has recently expanded its commercial dealer network, adding partners such as Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, and Eco Auto. This expansion provides sales and service coverage in key markets across the Midwest, West Coast, Pacific Northwest, and New England, positioning the company for potential growth in the commercial EV sector.

The company's strategic moves extend beyond sales and distribution. Mullen recently announced Foreign Trade Zone (FTZ) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. This designation offers benefits such as deferment of duties owed and elimination of duties on exported vehicles, potentially enhancing the company's competitive edge in the global market.

As universities and other institutions increasingly prioritize sustainability in their operations, companies like Mullen Automotive stand to benefit from the growing demand for electric commercial vehicles. The UVA order, while modest in size, represents a significant vote of confidence in Mullen's products and could pave the way for similar orders from other educational institutions and organizations committed to reducing their carbon footprint.

For more information about Mullen Automotive and its electric vehicle offerings, interested parties can visit www.MullenUSA.com. As the EV market continues to evolve, Mullen's progress in the commercial sector will be worth watching for investors and environmental advocates alike.