TinyGemsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Receives IRS Approval as ‘Qualified Manufacturer,’ Qualifies for Federal EV Tax Credit
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has received approval from the IRS for its “qualified manufacturer” designation. The designation means the company qualifies for commercial EV federal tax credits of up to $7,500 per qualified vehicle with gross vehicle weight ratings (“GVWRs”) of under 14,000 pounds. According to the announcement, both the Mullen ONE, a class 1 EV Cargo Van, and the Mullen THREE, a class 3 EV Cab Chassis Truck, meet the qualifications and are approved for the tax credits. The announcement also noted that, according to IRS regulation, vehicles with gross vehicle weight ratings of more…