On the U.S. stock charts, Mullen Automotive, Inc. (NASDAQ: MULN) shares are seeing a notable increase today. Following an incredible 74.27% spike the day before, when it ended at $2.98, MULN stock was up 11.74% as of the most recent pre-market session, trading at $3.33. A recent strategic move in the electric vehicle (EV) market is responsible for this spike.
Mullen ONE Available for Rental on Turo
In a significant development, Mullen (MULN) announced that its Class 1 EV cargo van, the Mullen ONE, is now available for vehicle rental on Turo, the world’s largest vehicle-sharing marketplace. Parasol Strategic Solutions, a prominent Turo host based in Florida, identified a growing need for a compact, versatile cargo van within their market.
Their vast knowledge of logistics and vehicle sharing has shown that there is a growing need for compact, effective cargo vans that can move across cities with ease and support environmentally friendly transportation options.
An Eco-Friendly and Effective Business Solution
Businesses looking for on-demand, affordable transportation choices might find what they need with the Mullen ONE, an environmentally responsible and useful solution. Parasol will launch the Mullen ONE in Jacksonville, Florida, as part of an initial pilot program for its expanding electric vehicle rental platform.
A second pilot for the Mullen ONE is slated to begin in Baltimore, Maryland. These pilots provide businesses with the opportunity to experience the performance and benefits of Mullen’s Class 1 EV cargo van firsthand.
Lineup and Incentives for Commercial EVs
The Class 1 Mullen ONE cargo van and the Class 3 Mullen THREE cab chassis truck are two of Mullen’s commercial EV models that are intended for last-mile deliveries in cities. Both cars have complete EPA and CARB certifications and satisfy U.S. Federal Motor Vehicle Safety Standards.
The Mullen THREE is eligible for significant incentives, such as a $45,000 cash refund through California’s HVIP and a $15,000 rebate through the Massachusetts MOR-EV program. Similarly, the Mullen ONE is eligible for a $3,500 rebate in Massachusetts, making both vehicles a compelling option for commercial fleet customers, particularly with the added benefit of the $7,500 Federal Tax Incentive.
