via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today that its subsidiary, Bollinger Motors, has reached an
agreement to sell 80 all-electric Class 4 commercial trucks for a
sales order of $13.2 million to Momentum Groups (“Momentum”), a
leader in fleet management and EV charging solutions.
Momentum Groups can upfit the Bollinger B4 Chassis Cab with
mobile EV chargers, a box truck, flatbed, service body or stake
truck. Momentum Groups’ strength is in its full-service
national fleet program and mobile or permanent charging
infrastructure for electric vehicles (EVs).
Momentum will take possession of the vehicles after Bollinger
Motors launches production in the second half of 2024.
“Momentum is a leader and innovator in mobile charging solutions
and has a shared commitment to using electric vehicles as part of a
fleet management solution to help companies reduce emissions and
save money,” said Robert Bollinger, founder and CEO of Bollinger
Motors. “We are excited that the Bollinger B4 will be the Class 4
platform that helps Momentum deliver a mobile-charging
solution.”
“We are delighted to work with Bollinger Motors and its
innovative B4 Chassis Cab, as the company shares our commitment to
reducing greenhouse emissions and improving the world around us,”
said Jack Pyros, president of Momentum. “We look forward to
introducing the Bollinger B4 mobile charging vehicles to our fleet
customers, ultimately helping them create operational efficiency in
an environmentally friendly way.”
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.
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 MomentumThe Momentum family of companies,
founded over 20 years ago, is backed by industry-leading expertise.
The company services client needs from vehicle ordering to
financing options for purchase, lease or rent. Its comprehensive
services include maintenance management, fuel and cutting-edge EV
charging solutions, alongside mobile EV charging and fleet vehicle
remarketing.
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. 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 with the
addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck
Group, Range Truck Group and Eco Auto, providing sales and service
coverage in key Midwest, West Coast and Pacific Northwest and New
England markets. The Company also recently 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.
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 Bollinger Motors and are difficult
to predict. Examples of such risks and uncertainties include: (a)
The anticipated launch of production date, Bollinger Motors’
ability to finalize a sales agreement with Momentum Groups and
deliver purchased vehicles on schedule and whether any further
sales orders will materialize; (b) Bollinger Motors' continued
partnership with Nacarato Truck Centers, Nuss Truck &
Equipment, and LaFontaine Automotive Group; (c) Bollinger Motors'
continued partnership with Our Next Energy as a battery supplier;
(d) Bollinger Motors' continued partnership with Roush Industries
as a contract manufacturer; (e) Bollinger Motors' continued
relationship with Syncron as its warranty administration provider;
(f) Bollinger Motors’ continued relationship with Amerit Fleet
Solutions as its mobile service provider and (g) 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 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 Bollinger Motors' plans and expectations as of
any subsequent date.
SOURCE Bollinger Motors
Contact:Mike DeVilling, WestShore Public
Relations248-875-4207mdevilling@westshorepr.com
Contact:Mullen Automotive, Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 OfficeEditor@InvestorBrandNetwork.com
- Bollinger B4 all-electric Class 4 cab chassis truck
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