via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or
the “Company”), an electric vehicle (“EV”) manufacturer, announces
today that its subsidiary, Bollinger Motors (“Bollinger”), is
now eligible for New York State’s New York Truck Voucher Incentive
Program (“NYTVIP”), an incentive for commercial electric vehicles
from the New York State Energy and Research Development Authority
(“NYSERDA”) providing up to a $100,000 cash voucher incentive on
the all-electric B4 Truck.
New York is the fourth state incentive in the Northeast which
Bollinger Motors has qualified for, including:
- Massachusetts: Voucher up to $30,000 from Massachusetts Offers
Rebates for Electric Vehicles (MOR-EV)
- New Jersey: Voucher up to $90,000 from New Jersey Zero Emission
Incentive Program (NJ ZIP) through the New Jersey Education
Development Authority (NJEDA)
- New York: Up to $100,000 from NYTVIP through NYSERDA; and,
- Pennsylvania: Up to a $20,000 grant from Alternative Fuels
Incentive Grant Program (AFIG) through the Pennsylvania Department
of Environmental Protection
The 2025 Bollinger B4 Chassis Cab is an all-new, all-electric
Class 4 commercial truck designed from the ground up with extensive
fleet and upfitter input. Bollinger’s unique chassis design
protects the 158-kilowatt-hour battery pack and components to offer
unparalleled capability and safety in the commercial market.
“We applaud the states in the Northeast who are working hard to
create more sustainable transportation options,” said Jim Connelly,
chief revenue officer for Bollinger Motors. “The commercial fleet
market is primed for electrification, and the incentives available
in the Northeast will accelerate the adoption of this important
technology.”
In addition to state incentives, the Bollinger B4 Chassis Cab
has qualified for federal clean vehicle tax credits under the
Inflation Reduction Act (“IRA”) of $40,000 per vehicle. The state
incentives coupled with the IRA can offer Bollinger Motors
Northeast customers between $70,000 and $140,000 in incentives.
“The financial incentives combined with the versatility of the
Class 4 B4 to perform a variety of duty cycles creates incredible
value for our customers,” Connelly said. “The B4 is a world-class,
highly engineered vehicle that is capable and durable. It is well
suited for urban driving. It will be an important part of many
commercial fleets moving forward.”
Bollinger Motors has passed numerous milestones in the past
several months, including:• Its production launch on Septembe
- Regulatory achievements including FMVSS compliance, receiving
the Certificate of Conformity from the Environmental Protection
Agency, and CARB certification
- A 145 vehicle sale to Momentum Group
- A 70 vehicle sale to Doering Fleet Management
- A 50 vehicle sale to EnviroCharge
- The addition of Anderson Motors, TEC Equipment, Affinity Truck
Center, Nacarato Truck Centers, Nuss Truck & Equipment, and
LaFontaine Automotive Group as dealers and service centers
- Working with Our Next Energy in Novi, Michigan, to supply
battery packs
- Providing a full warranty coverage of the B4 chassis cab;
and,
- Announcing Syncron as its warranty administration partner and
Amerit Fleet Solutions as its mobile service provider
About Bollinger MotorsFounded in 2015 by Robert
Bollinger, Bollinger Motors, Inc. is a U.S.-based company
headquartered in Oak Park, Michigan. Bollinger Motors produces
Class 4 all-electric commercial chassis cab trucks. In September of
2022, Bollinger Motors became a majority-owned company of Mullen
Automotive, Inc. (NASDAQ: MULN).
Learn more at www.BollingerMotors.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. In September 2023,
Mullen received IRS approval for federal EV tax credits on its
commercial vehicles with a Qualified Manufacturer designation that
offers eligible customers up to $7,500 per vehicle. 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.
Recently, CARB issued HVIP approval on the Mullen THREE, Class 3 EV
truck, providing up to $45,000 cash voucher at time of vehicle
purchase. The Company has also recently expanded its commercial
dealer network to seven dealers with the addition of Papé Kenworth.
Other previously announced dealers include 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 Midwest, West Coast, Pacific Northwest, New England and
Mid-Atlantic markets. The Company has also announced Foreign Trade
Zone (“FTZ”) status approval for its Tunica, Mississippi,
commercial vehicle manufacturing center. FTZ approval provides a
number of benefits, including deferment of duties owed and
elimination of duties on exported vehicles.
To learn more about the Company, visit www.MullenUSA.com.
Mullen 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 Bollinger Motors and
are difficult to predict. Examples of such risks and uncertainties
include whether the Bollinger B4 will prove successful; how long
state and federal electric vehicle incentive programs will continue
to apply; the ability of Bollinger Motors’ B4 Class trucks to
qualify for such incentive programs; and the impact of incentive
programs on the resultant price of the Bollinger B4 Class
trucks.
Additional examples of such risks and uncertainties include but
are not limited to: (i) Mullen and Bollinger Motors' ability (or
inability) to obtain additional financing in sufficient amounts or
on acceptable terms when needed; (ii) Mullen and Bollinger Motors'
ability to maintain existing, and secure additional, contracts with
manufacturers, parts and other service providers relating to its
business; (iii) Mullen and Bollinger Motors' ability to
successfully expand in existing markets and enter new markets; (iv)
Mullen and Bollinger Motors' 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 and Bollinger Motors'
business; (viii) changes in government licensing and regulation
that may adversely affect Mullen and Bollinger Motors' business;
(ix) the risk that changes in consumer behavior could adversely
affect Mullen and Bollinger Motors' business; (x) Mullen and
Bollinger Motors' ability to protect its intellectual property;
(xi) the vehicles developed will perform as expected and (xii)
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 Automotive, Inc., of which Bollinger Motors is
a partially owned subsidiary, with the Securities and Exchange
Commission. Mullen and Bollinger Motors anticipate that subsequent
events and developments may cause the Company’s plans, intentions
and expectations to change. Mullen and Bollinger Motors assume no
obligation, and specifically disclaim any intention or obligation,
to update any forward-looking statements, whether because 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 and Bollinger Motors' plans and expectations as of any
subsequent date.
Bollinger Media Contact: Mike
DeVilling(248) 875-4207, mdevilling@westshorepr.com
Contact:Mullen Automotive, Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:IBNLos Angeles,
Californiawww.InvestorBrandNetwork.com310.299.1717
OfficeEditor@InvestorBrandNetwork.com
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