BOLLINGER MOTORS ANNOUNCES PRICING FOR THE 2025 BOLLINGER B4 COMMERCIAL ELECTRIC TRUCK

Rhea-AI Summary

Bollinger Motors has announced the pricing for its 2025 Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, with an MSRP of $158,758. The company began production on September 16 and will start deliveries in October 2024. Notably, buyers can qualify for over $100,000 in state and federal incentives, including up to $40,000 in IRS tax credits and up to $60,000 from California's HVIP program.

The B4 features a 158-kWh battery pack and is designed with input from fleets and upfitters. It's now available for order through Bollinger's national dealer network. Recent developments include sales agreements, dealer partnerships, and collaborations with suppliers like Our Next Energy for battery packs and Amerit Fleet Solutions for mobile services.

Positive

• Production of the Bollinger B4 has commenced, with deliveries starting in October 2024
• Buyers can qualify for over $100,000 in combined state and federal incentives
• Bollinger received IRS approval as a qualified manufacturer for clean vehicle credits
• The company secured multiple sales agreements, including 145 vehicles to Momentum Group
• Partnerships established with several dealer and service centers across the country

Negative

• The base price of $158,758 for the B4 Chassis Cab may be considered high for some potential customers

Financial Analyst

The pricing announcement for Bollinger Motors' 2025 B4 electric truck at $158,758 MSRP is a strategic move in the commercial EV market. With potential incentives exceeding $100,000, the effective cost could drop below $60,000, making it highly competitive. This pricing strategy could accelerate EV adoption in the commercial sector, potentially driving significant sales volume.

Recent sales agreements totaling 265 vehicles indicate strong initial demand. The commencement of production and imminent deliveries suggest Bollinger is transitioning from development to revenue generation, a critical phase for EV startups. However, investors should monitor production ramp-up and delivery execution, as these are often challenging for new EV manufacturers.

Automotive Industry Expert

Bollinger's B4 enters the market at a crucial time for commercial fleet electrification. The Class 4 segment is underserved by major automakers, giving Bollinger a potential first-mover advantage. The 158 kWh battery pack suggests a competitive range, addressing a key concern for fleet operators.

The e-PTO option enhances versatility, potentially expanding the B4's market appeal. Partnerships with established dealers and service providers like Amerit Fleet Solutions address critical infrastructure and support needs, potentially alleviating buyer concerns about maintenance and reliability. These factors, combined with the attractive pricing after incentives, position the B4 well against both electric and traditional ICE competitors in the commercial truck market.

Environmental Policy Analyst

The substantial incentives available for the Bollinger B4, including up to $40,000 in federal tax credits and $60,000 from California's HVIP program, highlight the strong governmental push for commercial fleet electrification. This level of support significantly reduces the cost barrier for fleet operators, potentially accelerating EV adoption in the commercial sector.

Bollinger's CARB certification and IRS approval as a qualified manufacturer under the Inflation Reduction Act demonstrate compliance with stringent environmental standards. This positions the company favorably in states with aggressive emissions reduction targets. The B4's launch aligns with growing policy momentum towards sustainable transportation, potentially benefiting from future regulatory tailwinds.

The 2025 B4 buyers can qualify for more than $100,000 in state and federal incentives on all-new, all-electric Class 4 truck

OAK PARK, Mich., Sept. 18, 2024 /PRNewswire/ -- Bollinger Motors, Inc. ("Bollinger Motors"), a commercial electric vehicle ("EV") manufacturer, announced  today that the 2025 Bollinger B4 Chassis Cab will have a Manufacturers Suggested Retail Price (MSRP)  of $158,758.

The 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-kwh battery pack and components to offer impressive capability and safety in the commercial market. The company commenced serial production of the B4 the week of September 16, and will begin delivering vehicles to customers in October 2024. The all-electric Bollinger B4 Chassis Cab is now available for order, and is available via Bollinger's national dealer network.

The 2025 B4 will be eligible for combined federal and state incentives that could be in excess of $100,000. The base B4 can be enhanced with dealer accessories and several factory options, including an e-PTO unit (which will be available in January) to meet a fleet's specific needs.

"Our team has listened to our customers and created a world-class electric truck to fill an important segment of the Class 4 commercial fleet market," said Jim Connelly, chief revenue officer for Bollinger Motors. "We feel that we are bringing a versatile and valuable truck to market at a competitive price point. When combined with the variety of incentives available to potential customers, we believe the B4 makes the fleet transition to electric a no-brainer."

Earlier this year, Bollinger Motors received IRS approval as a qualified manufacturer for clean vehicle credits under the Inflation Reduction Act of 2022 ("IRA").  This designation enables the Bollinger B4 chassis cab to qualify for the IRA's new credit for qualified commercial clean vehicles, providing eligible purchasers a tax credit of up to $40,000 per vehicle. In addition, Bollinger Motors was recently CARB certified, providing the pathway to California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project  ("HVIP"). When combined with the B4's $40,000 IRS rebate, HVIP can offer a rebate of up to $60,000, adding up to $100,000 in combined total savings. Additional available state and local incentives could push the total above $100,000.

The MSRP announcement follows a series of recent news including the start of production of the B4; a 145-vehicle sale to Momentum Group, a 70-vehicle sale to Doering Fleet Management, a 50-vehicle sale to EnviroCharge; dealer and service center agreements from Affinity Truck Center, TEC Equipment, Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group; providing full warranty coverage of the B4 chassis cab; receiving the Certificate of Conformity from the Environmental Protection Agency; Our Next Energy in Novi, Mich. to supply battery packs; and Amerit Fleet Solutions as its mobile service provider.

ABOUT BOLLINGER MOTORS

Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is producing all-electric Class-4 commercial chassis cab trucks, with plans to expand into Class 5 in 2025. 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.  

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, EnviroCharge, and Momentum Groups and deliver purchased vehicles on schedule; (b) Bollinger Motors' continued partnership with Nacarato Truck Centers, Nuss Truck & Equipment, TEC Equipment, Affinity Truck Center, and LaFontaine Automotive Group as dealers and service centers; (c) Bollinger Motors' continued partnership with Our Next Energy as a battery supplier; (d) Bollinger Motors' continued relationship with Syncron as its warranty administration provider; (e) Bollinger Motors' continued relationship with Amerit Fleet Solutions as its mobile service provider; and (f) Bollinger Motors reserves the right to edit the MSRP of the B4 at any time, as necessary.

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.

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SOURCE Bollinger Motors

FAQ

What is the MSRP of the 2025 Bollinger B4 Chassis Cab?

The Manufacturers Suggested Retail Price (MSRP) for the 2025 Bollinger B4 Chassis Cab is $158,758.

When will Bollinger Motors start delivering the B4 trucks to customers?

Bollinger Motors will begin delivering the B4 trucks to customers in October 2024.

How much can buyers save in incentives on the Bollinger B4?

Buyers of the Bollinger B4 can qualify for more than $100,000 in combined state and federal incentives.

What is the battery capacity of the Bollinger B4 Chassis Cab?

The Bollinger B4 Chassis Cab features a 158-kWh battery pack.

Has Bollinger Motors received any significant vehicle orders for the B4?

Yes, Bollinger Motors has received several significant orders, including 145 vehicles from Momentum Group, 70 vehicles from Doering Fleet Management, and 50 vehicles from EnviroCharge.