Bollinger Motors Agrees to 70-Vehicle Sale with Doering Fleet Management
Bollinger Motors, an electric commercial vehicle manufacturer, has agreed to sell 70 all-electric Class 4 Bollinger B4 commercial trucks to Doering Fleet Management. This marks the first medium duty electric truck offered by Doering, a leading fleet management company. The Bollinger B4 Chassis Cab is an 800V battery-powered Class 4 truck designed with fleet and upfitter input.
Bollinger Motors has recently achieved several milestones, including EPA certification, sales agreements with other companies, and partnerships for battery supply, assembly, warranty administration, and mobile services. The B4 qualifies for a $40,000 tax credit under the Inflation Reduction Act. This agreement represents a significant step for Bollinger Motors in expanding its presence in the commercial EV market.
- Secured sale of 70 all-electric Class 4 Bollinger B4 trucks to Doering Fleet Management
- Qualified for $40,000 federal tax credit per truck under the Inflation Reduction Act
- Received EPA Certificate of Conformity
- Established partnerships for battery supply, assembly, warranty administration, and mobile services
- None.
Insights
Bollinger Motors' agreement with Doering Fleet Management for the sale of 70 Bollinger B4 electric trucks signifies a significant commercial milestone. Such deals are pivotal in the EV market, where fleet sales can substantially drive revenue and market penetration. Investors should take note of the
However, the overall financial health and sustainability of Bollinger Motors and its majority owner, Mullen Automotive (NASDAQ: MULN), should be monitored closely. While the sale is promising, it must be seen in the context of broader market performance and financial footing. Investors should also consider Bollinger’s ongoing milestones and partnerships (e.g., with Our Next Energy) as indicators of their operational expansion and strategic direction.
The adoption of the Bollinger B4 by Doering Fleet Management highlights a growing trend of fleet electrification, particularly in the medium-duty segment. This represents a shift as companies seek environmentally friendly solutions, aligning with stringent emissions regulations and sustainability goals. The collaboration with Doering, a well-respected player in fleet management, reinforces Bollinger’s position in the commercial EV market.
For investors, this agreement suggests that there is a robust demand for electric medium-duty trucks, which is a somewhat less saturated market compared to light-duty EVs. The recent sales milestones, including agreements with other fleet companies like Momentum Groups and EnviroCharge, indicate a solid market acceptance. Long-term, Bollinger’s ability to secure such partnerships will be important for sustaining growth and achieving economies of scale in production.
The Bollinger B4’s unique 800V battery architecture is a standout feature, offering superior performance and serviceability. This high-voltage system allows for faster charging and better efficiency, important for commercial fleets that demand minimal downtime. The strategic partnerships with suppliers like Our Next Energy for battery packs and Roush Industries for assembly bolster Bollinger’s technological credibility and operational capacity.
Retail investors should recognize the importance of these technical attributes and partnerships. In the highly competitive EV market, having advanced, reliable technology and strong supply chain partnerships can be significant differentiators. The technological edge of Bollinger B4 could potentially translate into higher adoption rates among fleet operators seeking efficient and reliable electric trucks.
"Our agreement with Doering Fleet Management is another important step forward for Bollinger Motors," said Jim Connelly, chief revenue officer of Bollinger Motors. "Doering is one of the top names in the fleet management world and we are honored to have the
Doering has built its reputation over three decades through outstanding customer service and by matching their customers with the right vehicles for their unique business needs. The
"The
The
Bollinger Motors has reached several milestones in recent months, including: receiving the Certificate of Conformity from the Environmental Protection Agency; an 80-vehicle sale to Momentum Groups; a 50-vehicle sale to EnviroCharge; a five-vehicle sale with Spencer Manufacturing; the addition of Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Auto Group as dealers and service centers; Our Next Energy in Novi, Mich. to supply battery packs; Roush Industries in Livonia, Mich. to manage vehicle assembly operations; Syncron as its warranty administration partner; and Amerit Fleet Solutions as its mobile service provider.
ABOUT
Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a
ABOUT DOERING FLEET MANAGEMENT
Doering Fleet Management is a national fleet management provider serving clients across the
Doering operates TESlease (Transportation, Electric, Sustainable) an EV fleet leasing business since 2015 and DreamLease, an exotic vehicle leasing division. Doering also has a robust government and municipal fleet management group based in
More information is available at: https://www.doeringfleetmanagement.com.
FORWARD-LOOKING STATEMENT
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 Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include: (a) Bollinger Motors' ability to finalize a sales agreement with Doering Fleet Management, Spencer Manufacturing, Momentum Group, and EnviroCharge and deliver purchased vehicles on schedule; (b) the continued availability and support for federal commercial vehicle purchasing incentives under the Inflation Reduction Act of 2022; (c) Bollinger Motors' continued partnership with Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group; (d) Bollinger Motors' continued partnership with Our Next Energy as a battery supplier; (e) Bollinger Motors' continued partnership with Roush Industries as a contract manufacturer; (f) Bollinger Motors' continued relationship with Syncron as its warranty administration provider; and (g) Bollinger Motors' continued relationship with Amerit Fleet Solutions as its mobile service provider.
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/bollinger-motors-agrees-to-70-vehicle-sale-with-doering-fleet-management-302195263.html
SOURCE Bollinger Motors
FAQ
How many Bollinger B4 trucks did Doering Fleet Management agree to purchase?
What tax incentive does the Bollinger B4 qualify for under the Inflation Reduction Act?
What recent certification did Bollinger Motors receive for the B4 truck?
Who will supply battery packs for Bollinger Motors' electric trucks?
