via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today Bollinger Motors (“Bollinger”) has reached an agreement to
sell 50 vehicles to EnviroCharge, a provider of convenient and
flexible charging solutions for an estimated deal value of
$8,250,000 for electric vehicle owners.
EnviroCharge will install its mobile clean-propane-powered
charging system on the Bollinger B4 chassis cab, an all-new,
all-electric Class 4 commercial truck. By combining the charging
unit with the Bollinger B4, EnviroCharge will provide a convenient
mobile unit allowing electric vehicle owners to quickly and easily
charge EVs anytime, anywhere.
EnviroCharge will take possession of the vehicles after
Bollinger Motors launches production in the second half of
2024.
“EnviroCharge shares our commitment and vision to transform the
transportation industry,” said Robert Bollinger, founder and CEO of
Bollinger Motors. “Innovative electric trucks and charging
solutions mean fleets can switch today to save money, reduce
emissions and get the job done.”
EnviroCharge will re-sell the newly upfitted vehicles to fleet
owners in states with voucher incentive programs. In addition, the
vehicles will be eligible for the $40,000 Inflation Reduction Act
federal tax credit.
“This is a big step forward for EnviroCharge customers, as it
provides a clean-fuel EV charging solution on a zero-emission
vehicle,” said Charlie Stockton, CEO of EnviroCharge. “This will
create a convenient charging solution providing fleet owners with
invaluable peace of mind.”
Today's announcement follows a series of Bollinger Motors
announcements in recent months, including: the addition of Nacarato
Truck Centers, Nuss Truck & Equipment and LaFontaine Auto Group
as dealers and service centers; Our Next Energy in Novi,
Michigan, to supply battery packs; Roush Industries
in Livonia, Michigan, to manage vehicle assembly operations;
Syncron as its warranty administration partner; and Amerit Fleet
Solutions as its mobile service provider.
Also, Bollinger Motors recently qualified for federal
clean-vehicle purchasing incentives under the Inflation Reduction
Act, which provides $40,000 in refundable tax credits per
truck.
About EnviroChargeEnviroCharge, a
Service-Disabled Veteran-Owned Charge Point Operating Company
(“CPO”), believes that the future of clean transportation begins
with a passionate team with the vision to drive transformative
technologies using renewable fuels such as hydrogen, renewable
propane + DME, renewable natural gas, biodiesel, and renewable
diesel. The company offers cost-effective power generation and EV
charging solutions that enhance energy resilience while ensuring
energy equity.
About Bollinger MotorsFounded in 2015 by Robert
Bollinger, Bollinger Motors, Inc. is a U.S.-based company
headquartered in Oak Park, Michigan. Bollinger Motors is developing
all-electric commercial chassis cab trucks, Classes 4-6. In
September of 2022, Bollinger Motors became a majority owned company
of Mullen Automotive, Inc. (NASDAQ: MULN).
Learn more
at www.BollingerMotors.com and www.MullenUSA.com.
About MullenMullen 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.
To learn more about the Company, visit www.MullenUSA.com.
Forward-Looking StatementsCertain 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 or Bollinger Motors and are
difficult to predict. Examples of such risks and uncertainties
include: (a) Bollinger Motors’ ability to finalize its sales
agreement with EnviroCharge and deliver purchased vehicles on
schedule; (b) the total realized value to the company from the
purchase order; (c) whether Bollinger Motors will meet its
anticipated production launch timelines; (d) Bollinger Motors'
continued partnership with Nacarato Truck Centers, Nuss Truck &
Equipment and LaFontaine Automotive Group; (e) Bollinger Motors'
continued partnership with Our Next Energy as a battery supplier;
(f) Bollinger Motors' continued partnership with Roush Industries
as a contract manufacturer; (g) Bollinger Motors' continued
relationship with Syncron as its warranty administration provider;
(h) Bollinger Motors’ continued relationship with Amerit Fleet
Solutions as its mobile service provider and (i) the continued
availability and support for federal commercial vehicle purchasing
incentives under the Inflation Reduction Act of 2022. Additional
examples of such risks and uncertainties include but are not
limited to: (i) Bollinger Motors' ability (or inability) to obtain
additional financing in sufficient amounts or on acceptable terms
when needed; (ii) Bollinger Motors' ability to maintain existing,
and secure additional, contracts with manufacturers, parts and
other service providers relating to its business; (iii) Bollinger
Motors' ability to successfully expand in existing markets and
enter new markets; (iv) 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 Bollinger Motors' business;
(viii) changes in government licensing and regulation that may
adversely affect Bollinger Motors' business; (ix) the risk that
changes in consumer behavior could adversely affect Bollinger
Motors' business; (x) 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. Bollinger Motors anticipates
that subsequent events and developments may cause its plans,
intentions and expectations to change. Bollinger Motors assumes no
obligation, and it specifically disclaims any intention or
obligation, to update any forward-looking statements, whether as a
result 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 Bollinger Motors' plans and expectations as of any
subsequent date.
Source: Bollinger Motors
Contact:Mullen Automotive, Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
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