Bollinger Motors Announces Sale of 50 Bollinger B4 Chassis Cabs to EnviroCharge
Bollinger Motors has announced the sale of 50 Bollinger B4 Chassis Cabs to EnviroCharge, a company offering mobile charging solutions for EV owners. EnviroCharge will outfit these all-electric, Class 4 trucks with their mobile clean-propane-powered charging systems. The combined units will offer convenient, mobile EV charging. The vehicles are set for delivery in the second half of 2024 and will be eligible for a $40,000 federal tax credit under the Inflation Reduction Act.
This partnership aligns with Bollinger's recent expansions, including new dealer and service center additions and collaborations with battery and assembly partners. EnviroCharge plans to resell the vehicles to fleet owners, targeting states with voucher incentive programs. The collaboration aims to promote cleaner transportation and operational efficiency for fleet owners.
- Sale of 50 Bollinger B4 Chassis Cabs to EnviroCharge.
- Vehicles eligible for a $40,000 federal tax credit under the Inflation Reduction Act.
- Partnership with EnviroCharge aligns with Bollinger's vision for cleaner transportation.
- Recent expansions include new dealers and service centers.
- Collaborations with battery supplier (Our Next Energy) and assembly manager (Roush Industries).
- EnviroCharge’s mobile charging units enhance convenience for EV owners.
- No immediate impact on Bollinger's financials as vehicle delivery is set for the second half of 2024.
- Sales depend on the successful launch of production and assembly operations.
- Potential risks if the production schedule is delayed or supply chain issues arise.
Insights
The sale of 50 Bollinger B4 chassis cabs to EnviroCharge indicates a positive move for Bollinger Motors as it showcases their capability to secure significant contracts even before launching full-scale production. This deal could help bolster investor confidence, especially considering the competitive and capital-intensive nature of the EV market.
From a financial perspective, the potential eligibility for the $40,000 federal tax credit per vehicle under the Inflation Reduction Act is substantial. This would not only incentivize buyers but also enhance the financial attractiveness of Bollinger’s vehicles, potentially driving future sales and improving margins. The involvement of states with voucher incentive programs further strengthens the financial viability of the deal.
However, the actual impact on Bollinger’s financials remains to be seen, as it hinges on successful production and delivery timelines. Investors should also consider the broader market dynamics and the competitive landscape in the EV sector.
Overall, this deal appears to be a positive indicator of Bollinger Motors' market positioning and potential future revenue growth.
Strategically, this deal aligns well with current trends towards sustainable and flexible EV charging solutions. The partnership with EnviroCharge not only diversifies Bollinger’s market presence but also taps into a niche that addresses a critical pain point for EV fleet operators: convenient and rapid charging solutions.
The proposition of a mobile charging unit powered by clean propane is innovative and could serve as a differentiator in the market. This could attract environmentally conscious fleet operators looking to reduce emissions and operational downtime.
Moreover, the collaboration with various industry players for batteries, assembly and service centers indicates a robust supply chain strategy, which is essential for scaling operations efficiently. The acknowledgment of partnerships with reputable entities like Nacarato Truck Centers, Our Next Energy and Roush Industries enhances Bollinger's credibility and operational readiness.
However, the market entry timing, competitive responses and ability to scale production without quality compromises will be important factors to watch.
In summary, this deal leverages strong market trends and partnerships to position Bollinger Motors favorably in the EV sector.
The technical innovation of integrating a mobile clean-propane-powered charging system onto an all-electric chassis like the Bollinger B4 is noteworthy. This solution addresses a critical gap in the EV ecosystem—providing flexible and accessible charging options, which could be particularly beneficial for fleet operators managing diverse and dispersed operations.
The use of clean-propane is also significant as it underscores a commitment to sustainable energy sources. This aligns with broader industry trends focused on reducing carbon footprints and enhancing energy efficiency.
Moreover, the vehicle's eligibility for federal tax credits under the Inflation Reduction Act adds a layer of technological and financial appeal, making the B4 chassis an attractive investment for fleet owners looking to modernize their fleets while benefiting from substantial cost savings.
Nonetheless, the real-world performance, reliability of the integrated charging system and the ability to maintain quality at scale are aspects that will need close monitoring.
Overall, this initiative highlights Bollinger Motors' innovative approach and potential to disrupt conventional EV charging solutions.
Deal Creates Innovative Mobile Charging Solution for Electric Vehicle Fleet 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 charging 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
"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, 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.
Also, Bollinger Motors recently qualified for federal clean-vehicle purchasing incentives under the Inflation Reduction Act, which provides
ABOUT ENVIROCHARGE
EnviroCharge, 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 MOTORS
Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a
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 EnviroCharge and deliver purchased vehicles on schedule; (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 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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SOURCE Bollinger Motors
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