Mullen Automotive Inc. Expands Payment Options to Include Cryptocurrency for EV Purchases

Mullen Automotive Inc. (NASDAQ: MULN) has announced it will now accept cryptocurrencies, including Bitcoin and the $TRUMP meme coin, for purchases of its commercial electric vehicles (EVs). This initiative positions Mullen as one of the few automakers to embrace cryptocurrency payments, with plans to potentially include other meme and stablecoins in the future. The move is designed to widen access to Mullen's lineup of U.S. safety- and emissions-certified EVs, such as the Mullen ONE van, Mullen THREE truck, and Bollinger B4 chassis cab, known for its 185-mile range and 7,325-pound payload capacity.

The adoption of cryptocurrency payments reflects Mullen's commitment to innovation and customer convenience in the rapidly evolving EV market. With commercial vehicle production already underway in Tunica, Mississippi, and a recent IRS approval for federal EV tax credits, Mullen is strengthening its position in the competitive EV sector. The company's vehicles, including the Mullen ONE and Mullen THREE, have received certifications from the California Air Resource Board (CARB) and the EPA, making them available for sale across the U.S. Additionally, the CARB-issued HVIP approval for the Mullen THREE offers up to a $45,000 cash voucher at the time of purchase, further incentivizing the shift towards electric commercial vehicles.

Mullen's expansion of its commercial dealer network to seven dealers, including recent addition Papé Kenworth, ensures comprehensive sales and service coverage in key markets. The company's Foreign Trade Zone (FTZ) status for its Tunica manufacturing center also provides significant benefits, such as duty deferment and elimination on exported vehicles, enhancing Mullen's operational efficiency and cost-effectiveness.

This strategic move to accept cryptocurrency payments not only caters to a growing segment of tech-savvy consumers but also aligns with broader trends towards digital currency adoption in the automotive industry. By embracing this payment method, Mullen Automotive Inc. is setting a precedent for future transactions in the EV market, potentially influencing other manufacturers to follow suit.