BOLLINGER MOTORS NAMES NEXT TWO DEALERS IN SEVEN STATES AT 11 LOCATIONS

Rhea-AI Summary

Bollinger Motors, Inc. announces dealership groups for their commercial electric truck line, starting with the Bollinger B4 Chassis Cab in late 2024. The company aims to electrify fleets nationwide with strategic dealer partnerships and innovative design.

Insights

Market Research Analyst

The expansion of Bollinger Motors' dealership network is a strategic step in penetrating the commercial electric vehicle market. By partnering with Nacarato Truck Centers and Nuss Truck & Equipment, Bollinger is gaining access to key trucking hubs, which could significantly increase the B4 Chassis Cab's market penetration and brand visibility. The strategic placement of dealerships in seven states is likely to enhance customer service capabilities and provide a solid foundation for growth.

Furthermore, the company's alignment with federal incentives, such as the clean vehicle tax credits under the Inflation Reduction Act, positions Bollinger Motors favorably within the competitive landscape. The $40,000 per vehicle tax credit could serve as a strong selling point to fleet operators looking to reduce their carbon footprint while also managing costs. This financial incentive is likely to be a catalyst for sales, as it effectively lowers the total cost of ownership for commercial clients.

Financial Analyst

From a financial perspective, the initiation of the Bollinger B4 Chassis Cab's deliveries in the second half of 2024 could signal a significant revenue stream for Bollinger Motors. However, investors should monitor the company's capital expenditures and cash flow statements closely, as dealership expansions can be capital-intensive. The timeline for profitability will be crucial, given the high costs associated with manufacturing and distributing electric vehicles.

Investors should also consider the potential impact of strategic partnerships with Our Next Energy and Roush Industries on Bollinger's supply chain efficiency and production capabilities. These partnerships may provide Bollinger with a competitive edge in terms of battery technology and assembly operations, which are critical components in the EV manufacturing process.

Automotive Industry Expert

The Bollinger B4 Chassis Cab's design, with a focus on fleet and upfitter input, suggests a product that is tailored to meet the specific needs of commercial users. The protected 158 kWh battery pack is a notable feature, as it addresses range and safety concerns that are paramount for fleet operators. The industry-specific term 'upfitter' refers to companies that modify vehicles to suit particular professional applications, indicating that Bollinger is targeting a niche market that requires custom solutions.

It is also important to assess how Bollinger's unique chassis design and battery protection measures compare with industry norms. If significantly more advanced, this could offer Bollinger a competitive advantage in terms of product differentiation and could be a key selling point for safety-conscious fleet managers.

DETROIT, March 5, 2024 /PRNewswire/ -- Bollinger Motors, Inc., an electric commercial vehicle ("EV") manufacturer, has named the next two dealership groups spanning seven states and 11 locations, as they rollout their commercial electric truck line, beginning with the Bollinger B4 Chassis Cab in the second half of 2024.

The dealership groups are:

• Nacarato Truck Centers – 10 locations in Florida, Georgia, Kentucky, Maryland, Tennessee, and Virginia
• Nuss Truck & Equipment – one location in Minneapolis, Minn.

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 unparalleled capability and safety in the commercial market. The company anticipates deliveries of the Bollinger B4 to begin in the second half of 2024. 

"We are building our national dealer network very strategically to ensure that they share Bollinger's commitment to quality and customer service," said Robert Bollinger, founder and CEO of Bollinger Motors. "These two dealership groups represent some of the busiest trucking hubs in the country and we welcome these new locations to the Bollinger family as we work to electrify fleets across the country."

Today's announcement follows a series of Bollinger Motors announcements in recent months, including partnerships with Our Next Energy in Novi, Mich. to supply the company with batteries and related components and Roush Industries in Livonia, Mich. to manage vehicle assembly operations.  The company recently qualified for federal clean vehicle tax credits under the Inflation Reduction Act of $40,000 per vehicle for the B4 chassis cab. Earlier this month, Michigan's LaFontaine Automotive Group was named as the first commercial dealer.

ABOUT BOLLINGER MOTORS
Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Mich. 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 NACARATO TRUCK CENTERS
Nacarato Truck Centers is a group of authorized Volvo Truck, Tico Terminal Tractor, and used semi truck dealerships and Service Centers serving the Tennessee, Virginia, Southern Kentucky, Maryland, Illinois, Florida and Georgia areas with 47 years in the trucking industry. Starting from a single dealership in Nashville, we have expanded to a 13-dealership group with the same moral principles that the dealership was founded on.  Three generations of the Nacarato family have kept this dream alive and continue to steer this company to where we are today. For more information, visit www.nacaratotruckcenters.com.

ABOUT NUSS TRUCK & EQUIPMENT
With nine locations in Minnesota and western Wisconsin, Nuss Truck & Equipment is the region's largest dealer of new and used Mack and Volvo Trucks, and Volvo Construction Equipment. Established in 1959, Nuss has become a leading provider of service, parts, trailers, rentals and custom-engineered solutions for the trucking and construction industries. With headquarters in Rochester and Roseville, Minnesota, Nuss is proud of its commitment to safety and exceptional service. For more information and a list of locations, visit https://www.nussgrp.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' continued partnership with Nacarato Truck Centers and Nuss Truck and Equipment; (b) Bollinger Motors' ability to build a national network of commercial dealers in time for start of production and vehicle deliveries; (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' ability to begin manufacturing and deliver their initial vehicles in the time and manner they anticipate; and (f) 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

FAQ

Which dealership groups have been named for the Bollinger B4 Chassis Cab rollout?

Nacarato Truck Centers with 10 locations in seven states and Nuss Truck & Equipment with one location in Minneapolis, Minn.

What is the unique feature of the Bollinger B4 Chassis Cab design?

The all-electric class 4 commercial truck has a unique chassis design to protect the 158 kwh battery pack and components, offering exceptional capability and safety in the commercial market.

When are the deliveries of the Bollinger B4 expected to start?

Deliveries are anticipated to begin in the second half of 2024.

What federal clean vehicle tax credits has Bollinger Motors qualified for?

The company has qualified for $40,000 per vehicle under the Inflation Reduction Act for the B4 chassis cab.

Which companies have Bollinger Motors partnered with recently?

Partnerships include Our Next Energy for batteries and components supply and Roush Industries for vehicle assembly operations.