The ComEd Business & Public Sector EV Rebate Program joins the growing list of state-level incentives already available for Mullen Commercial EVs, including California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project and Massachusetts Offers Rebates for Electric Vehicles program

BREA, Calif., June 05, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an electric vehicle ("EV") manufacturer, announces today that Mullen Commercial EVs are now eligible for substantial incentives through the ComEd Business & Public Sector EV Rebate Program ("ComEd") in Illinois. Mullen vehicles purchased through authorized dealers, Pritchard EV and Range Truck Group, qualify for ComEd's incentives. The ComEd program joins the growing list of state-level incentives already available for Mullen Commercial EVs, including California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project ("HVIP") and Massachusetts Offers Rebates for Electric Vehicles ("MOR-EV") program.

ComEd's Business & Public Sector EV Program provides commercial customers with a simple and cost-effective path to fleet electrification. The Program will run through 2025 with the goal of distributing more than $70 million in rebates for light, medium and heavy-duty electric cars, trucks and buses.

The Mullen ONE Class 1 EV cargo van qualifies for an incentive of up to $7,500 through the ComEd program. When combined with the Federal Tax Credit, customers could potentially save up to $15,000 on each vehicle. ComEd also offers up to $30,000 in incentives on Medium-Duty EVs (Class 3-6), but due to a significant increase in applications, the ComEd EV Rebate Program has temporarily placed new Medium Duty point-of-sale voucher applications on a waitlist.

The EV rebate is available to all ComEd business and public sector customers seeking to transition to electric commercial vehicles. The program offers significant cost savings for businesses and public sector organizations looking to electrify their fleets.

"We are thrilled that Mullen Commercial EVs are now eligible in Illinois for the ComEd Business & Public Sector EV Rebate Program," said David Michery, CEO and chairman of Mullen Automotive. "By leveraging these incentives, organizations can significantly reduce their upfront costs in electrifying their fleets."

Mullen's authorized dealers, Pritchard EV and Range Truck Group are offering the ComEd rebates in Illinois and are fully equipped to assist customers in navigating the incentive process and can process the ComEd rebate directly at the point of sale.

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, the Environmental Protection Agency, and the California Air Resources Board ("CARB") certifications denoting strict adherence to clean air emissions standards.

Illinois businesses and public sector organizations interested in learning more about Mullen Commercial EVs and the ComEd Business & Public Sector EV Rebate Program are encouraged to contact Pritchard EV or Range Truck Group.

About ComEd Business & Public Sector EV Rebate Program

ComEd's Business & Public Sector EV Program provides commercial customers with a simple and cost-effective path to fleet electrification. No matter where you are on your fleet electrification journey, our experts can help you reach your goals. The ComEd Business & Public Sector EV Rebate Program will run through 2025 with the goal of distributing more than $70 million in rebates for light-, medium- and heavy-duty electric cars, trucks and buses.

To learn more, visit www.comed.com

About Mullen

Mullen Automotive (NASDAQ:MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ("EVs") with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ("CARB") and EPA certified and available for sale in the U.S. The Company's commercial dealer network consists of seven dealers, which includes 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 coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.

In September 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer network with over 50 locations across the United States for sales and service support.

To learn more about the Company, visit www.MullenUSA.com.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, how long the ComEd and other government incentives will be available; the net pricing impact of these programs on the Mullen ONE EV cargo van and the estimated mileage range of the Mullen ONE. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen's plans and expectations as of any subsequent date.

Contact:

Mullen Automotive, Inc.

+1 (714) 613-1900

www.MullenUSA.com

Corporate Communications

IBN

Austin, Texas

www.InvestorBrandNetwork.com

512.354.7000 Office

Editor@InvestorBrandNetwork.com

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Mullen Class 1 EV Cargo Van Now Available for ComEd EV Incentive.