BOLLINGER MOTORS ANNOUNCES OUR NEXT ENERGY AS BATTERY SUPPLIER FOR ELECTRIC COMMERCIAL TRUCKS
Bollinger Motors, majority-owned by Mullen Automotive (NASDAQ: MULN), announced a partnership with Our Next Energy (ONE) to produce Aries battery packs in Van Buren Twp., Michigan. These modular battery packs aim to provide enhanced range and durability for Bollinger's all-electric Class 4 to Class 6 commercial trucks. The production is set to coincide with the anticipated start of vehicle production in late 2023. This collaboration focuses on using nickel and cobalt-free battery technology, promoting a more sustainable solution for electric vehicles.
- Partnership with Our Next Energy enhances product range and capability.
- Aries battery packs will be locally produced in Michigan, supporting US manufacturing.
- Use of nickel and cobalt-free battery technology improves sustainability and reduces costs.
- Bollinger Motors anticipates a closer fleet delivery timeline with improved battery technology.
- Dependence on ONE for battery production raises risks if production targets are not met.
- Potential delays in initial orders could impact Bollinger's market entry and revenue.
Our Next Energy (ONE) will build battery packs for Bollinger locally in Van Buren Twp., Michigan
DETROIT, Nov. 10, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Bollinger Motors, which recently became a majority owned company of Mullen Automotive, Inc. (NASDAQ: MULN), has announced Our Next Energy will be supplying modular, linkable Aries battery packs to power its all-electric commercial platforms and chassis cabs.
“ONE battery packs are ideal for our commercial trucks, giving our customers the range they need,” said Robert Bollinger, founder and CEO of Bollinger Motors. “The fact they’ll be built in the US and in Michigan is a huge advantage for us going forward.”
Bollinger's all-electric Class 4 through Class 6 chassis cabs are designed to meet commercial customers’ needs in a segment that often requires large payloads, sufficient range, durability, and longevity.
“We are pleased to provide Bollinger commercial vehicles with industry-leading range, using our Aries LFP battery platform,” said Mujeeb Ijaz, founder and CEO of ONE. “The Aries LFP chemistry contains no nickel and cobalt, offering superior durability and daily charging up to
"Halting development of our batteries in-house and teaming up with O.N.E. is a win-win in both technological advancement and production logistics," says Bryan Chambers, COO of Bollinger Motors. "We've not only advanced the quality of our product, but moved our fleet delivery dates closer."
Bollinger Motors will first launch their Class 4 Chassis Cab which is designed to hold 1 or 2 battery packs, depending on the customer’s desired range needs. Class 5 Platforms for walk-in van upfits will follow. The packs are expected to be available for Bollinger’s anticipated start of production in late 2023.
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ABOUT BOLLINGER MOTORS
Founded in 2015 by Robert Bollinger, Bollinger Motors is a U.S.-based company, headquartered in Oak Park, Michigan. Bollinger Motors will manufacture all-electric platforms and chassis cabs for commercial vehicles in Classes 4-6. www.BollingerMotors.com
PRESS CONTACT
BOLLINGER MOTORS
Valentine Oldham
Principal, Valentine PR
valentine@valentinepr.com
617 721 5392
ABOUT OUR NEXT ENERGY
Our Next Energy, Inc. (ONE) is a Michigan-based energy storage company focused on battery technologies that will radically accelerate the adoption of electric vehicles and expand the possibilities of next-level storage solutions. Our vision is simple: Double the range of electric vehicles; use safer, more sustainable raw materials; and establish a localized supply chain. This strategy will result in a reliable, cost-effective, and conflict-free supply chain.
PRESS CONTACT
OUR NEXT ENERGY
Sydni Williams
Communications Manager
swilliams@one.ai
734 272 2910
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 Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include: (a) Bollinger Motors’ receipt of initial orders for the product by the anticipated availability date; (b) ONE’s ability to produce and deliver the product at anticipated production volume demands; (c) ONE’s ability to deliver a battery product with the expected range; (d) ONE’s ability to deliver the product at the anticipated cost; or (d) Bollinger Motors’ future business decisions related to in-house battery development. 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.
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