California’s HVIP Program Provides $45,000 Cash Voucher per Vehicle

  • Mullen EV truck’s net cost can be as low as $16,000 after HVIP approval
  • California’s HVIP program provides $45,000 cash voucher per vehicle
  • Mullen Automotive Inc. stock soared 32.1% after HVIP approval
  • Mullen Three EV truck qualifies for up to $45,000 cash voucher
  • Combined with federal tax credit, truck cost could be as low as $16,000
  • Significant milestone for businesses seeking to electrify their fleets
  • Mullen Three EV truck has a 125-mile range for urban last-mile deliveries
  • Mullen’s stock has plummeted 70.8% year to date

Shares of Mullen Automotive Inc. soared Monday, after the electric vehicle maker said its Mullen Three truck received HVIP approval, which combined with the federal tax credit could lower the cost of the truck to as low as $16,000. Under California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), the 2024 Mullen Three EV truck now qualifies for up to $45,000 cash voucher. When combined with the available $7,500 federal tax credit, the truck, with a manufacturer’s suggested retail price (MSRP) of $68,500, the cost of the truck could be as low as $16,000 each. "California’s HVIP approval for the 2024 Mullen Three is a significant milestone making our Class 3 electric truck even more attractive and accessible to businesses seeking to electrify their fleets," said Mullen Chief Executive David Michery. The Mullen Three low-cab forward EV truck has a 125-mile range, and was built for urban last-mile deliveries. Mullen’s stock has plummeted 70.8% year to date.

Factuality Level: 3
Factuality Justification: The article provides information about Mullen Automotive Inc. and its Mullen Three truck receiving HVIP approval, which could lower the cost of the truck. However, the article lacks depth and context, focusing more on the stock price movement and less on the actual impact of the approval. It also contains unnecessary details about stock performance and irrelevant information about other indices.
Noise Level: 2
Noise Justification: The article provides relevant information about Mullen Automotive Inc., its stock performance, the approval of its Mullen Three truck for HVIP, and the potential cost reduction for the truck. It stays on topic and supports its claims with specific details and quotes from Mullen’s Chief Executive. However, the article lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Mullen Automotive Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial topic of Mullen Automotive Inc.’s stock performance and the impact of HVIP approval on the cost of their electric truck.
Public Companies: Mullen Automotive Inc. (MULN)
Key People: David Michery (Chief Executive)

Track all markets on TradingView

Reported publicly: www.marketwatch.com