Net Element(MULN) Newsfilter·2024-12-18 14:20Financial Performance - The company has significantly reduced its monthly burn rate from 11 8M in September 2024 and further to 5 5 million in sales [1][2] Sales and Market Expansion - The company has sold a total of 100 all-electric vehicles including 57 Class 3 and 43 Class 1 EV cargo vans and trucks since September 30 2024 [1][2] - The company is actively engaging with government agencies universities and large fleets to expand the adoption of EV vehicles across America and internationally [1][2][3] - The company's commercial EV lineup includes the Mullen ONE Class 1 EV cargo van and the Mullen THREE Class 3 EV cab chassis truck both fully compliant with U S Federal Motor Vehicle Safety Standards EPA and CARB certifications [3] Incentives and Certifications - The Mullen THREE qualifies for a 45 000 cash rebate voucher through the California HVIP program [4] - The Mullen ONE is eligible for a 7 500 federal tax incentive [4] - The Mullen THREE has received HVIP approval from CARB providing up to $45 000 cash voucher at the time of purchase [5] Production and Infrastructure - The company operates two U S-based vehicle plants in Tunica Mississippi (120 000 square feet) and Mishawaka Indiana (650 000 square feet) [5] - Commercial vehicle production began in Tunica in August 2023 and the company received IRS approval for federal EV tax credits in September 2023 [5] - The company has expanded its commercial dealer network to seven dealers providing sales and service coverage in key markets across the U S [5] Strategic Focus - The company is focused on expanding its efforts both domestically and internationally while managing market conditions and product placement in various use case scenarios [3] - The company is building positive traction for both Mullen and Bollinger Motors with growing sales and continued discussions with key stakeholders [3]