NetworkNewsBreaks — Mullen Automotive Inc. (NASD
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Posted On: 05/02/2022 4:29:57 PM
NetworkNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Announces ‘Milestone’ Filing of Loan Application for Mullen ONE EV Cargo Van Program
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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