Mullen Subsidiary, Bollinger Motors, Announces Adding Bergey’s Truck Centers to Its Sales and Service Network

Rhea-AI Summary

Mullen Automotive's subsidiary, Bollinger Motors, has expanded its dealer network by adding Bergey's Truck Centers, covering Delaware, Maryland, New Jersey, and Pennsylvania. This addition grows Bollinger's national network to over 50 locations. The company has delivered and received payment for Bergey's initial order of all-electric B4 Trucks.

The Bollinger B4 Chassis Cab is an all-electric Class 4 commercial truck featuring a 158-kilowatt-hour battery pack. Bollinger began customer deliveries in October and has achieved several milestones, including FMVSS compliance, EPA certification, and CARB certification. The company has secured multiple vehicle agreements: 145 with Momentum Group, 70 with Doering Fleet Management, and 50 with EnviroCharge.

Positive

• Expansion of dealer network to over 50 locations across multiple states
• Successful delivery and payment received for initial B4 Truck order
• Secured multiple large vehicle agreements totaling 265 vehicles
• Achieved key regulatory certifications (FMVSS, EPA, CARB)
• Established partnerships for warranty administration and mobile service

Negative

• None.

Insights

Financial Analyst

The addition of Bergey's Truck Centers to Bollinger Motors' dealer network marks a significant expansion into the mid-Atlantic region, growing their network to over 50 locations. More importantly, this announcement includes confirmation of delivered and paid B4 Truck orders, demonstrating real revenue generation. The expansion follows several substantial vehicle agreements totaling 265 vehicles (145 with Momentum Group, 70 with Doering Fleet Management and 50 with EnviroCharge). This dealer network growth and order fulfillment shows Bollinger's ability to execute on its commercial strategy, though MULN's micro-cap status and financial challenges remain concerns for investors.

Market Research Analyst

Bollinger's strategic expansion in the commercial EV space through Bergey's, a well-established dealer with 26 locations across four states, strengthens their market presence in the important mid-Atlantic region. The successful delivery and payment of initial B4 Trucks validates their business model and production capabilities. The comprehensive warranty coverage, partnership with Syncron for warranty administration and Amerit Fleet Solutions for mobile service demonstrates a well-thought-out after-sales strategy. These developments, combined with recent regulatory achievements and supply chain partnerships, position Bollinger competitively in the commercial EV sector.

Bollinger has delivered and received payment on initial order of B4 Trucks

Addition of respected commercial group, with dealerships in Delaware, Maryland, New Jersey and Pennsylvania, increases Bollinger Motors’ national dealer network to over 50 locations

BREA, Calif., Dec. 11, 2024 (GLOBE NEWSWIRE) -- via IBN – Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today that its subsidiary, Bollinger Motors (“Bollinger”), has named Bergey’s Truck Centers (“Bergey’s”) as an official Bollinger Motors’ dealer. Bergey’s Truck Centers expands Bollinger Motors’ commercial sales and service network into Delaware, Maryland, New Jersey and Pennsylvania, and grows Bollinger’s national dealer network to over 50 locations. Bollinger has also delivered and received payment on Bergey’s initial order of all-electric B4 Trucks. 

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-kilowatt-hour battery pack and components to offer unparalleled capability and safety in the commercial market. The company began delivering Bollinger B4 vehicles to customers in October.  

“We’re thrilled to partner with Bergey’s Truck Centers as we expand into the mid-Atlantic region—an important milestone in Bollinger Motors’ strategic growth plan,” said Jim Connelly, chief revenue officer for Bollinger Motors. “Bergey’s is a leader in the East Coast market and shares Bollinger Motors’ vision for a sustainable, electrified future.”

Bergey’s Truck Centers is a family-owned, commercial truck dealership and service center with 26 locations throughout the mid-Atlantic. 

“We are proud to partner with Bollinger Motors as they bring their groundbreaking electric trucks to the mid-Atlantic region,” said Stephen Rybacki, vice president of Medium Duty Truck Sales for Bergey’s Truck Centers. “At Bergey’s Truck Centers, we are committed to supporting innovative solutions that advance the commercial vehicle industry while meeting the evolving needs of our customers. The Bollinger B4 is an exciting new product that fills an important need for many of our customers. We’re excited to play a role in their growth and look forward to contributing to a more sustainable future together.”

Bollinger Motors has passed numerous milestones in the past several months, including:

• Its production launch on September 16.
• Regulatory achievements including FMVSS compliance, receiving the Certificate of Conformity from the Environmental Protection Agency, and CARB certification.
• A 145 vehicle agreement with Momentum Group.
• A 70 vehicle agreement with Doering Fleet Management.
• A 50 vehicle agreement with EnviroCharge.
• The addition of Broadway Ford Truck Centers, Anderson Motors, TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, and Nuss Truck & Equipment as dealers and service centers.
• Working with Our Next Energy in Novi, Michigan, to supply battery packs.
• Providing a full warranty coverage of the B4 chassis cab.
• Announcing Syncron as its warranty administration partner 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 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 Bergey’s Truck Centers

Bergey’s Truck Centers is family owned and operated out of its headquarters in Souderton, Pennsylvania, and has been in business since 1924. Bergey’s Truck Center’s has a commercial truck footprint with 26 locations, including 16 truck centers, eight truck parts locations, and a parts warehouse. It is a certified dealership for Mack, Volvo, Hino, Isuzu, and Autocar commercial trucks as well as Wabash and Strick trailers. Bergey’s also operates six commercial tire centers and 10 automotive dealership locations, extending their commercial offerings to include automotive and light duty pick-up trucks and vans.

Learn more at www.BergeysTruckCenters.com.  

About Mullen

Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. Recently, CARB issued HVIP approval on the Mullen THREE, Class 3 EV truck, providing up to $45,000 cash voucher at time of vehicle purchase. The Company has also recently expanded its commercial dealer network to seven dealers with the addition of Papé Kenworth. Other previously announced dealers include Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key Midwest, West Coast, Pacific Northwest, New England and mid-Atlantic markets. The Company has also announced Foreign Trade Zone (“FTZ”) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. FTZ approval provides a number of benefits, including deferment of duties owed and elimination of duties on exported vehicles.

To learn more about the Company, visit www.MullenUSA.com.

Mullen 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 Mullen and Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include whether Bergey’s will be successful in selling any Bollinger vehicles; whether the Bollinger B4 will prove successful; how long state and federal electric vehicle incentive programs will continue to apply; the ability of Bollinger Motors’ B4 Class trucks to qualify for such incentive programs; and the impact of incentive programs on the resultant price of the Bollinger B4 Class trucks.

Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen and Bollinger Motors' ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen and Bollinger Motors' ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen and Bollinger Motors' ability to successfully expand in existing markets and enter new markets; (iv) Mullen and 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 Mullen and Bollinger Motors' business; (viii) changes in government licensing and regulation that may adversely affect Mullen and Bollinger Motors' business; (ix) the risk that changes in consumer behavior could adversely affect Mullen and Bollinger Motors' business; (x) Mullen and 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. Mullen and Bollinger Motors anticipate that subsequent events and developments may cause the Company’s plans, intentions and expectations to change. Mullen and Bollinger Motors assume no obligation, and specifically disclaim 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 Mullen and Bollinger Motors' plans and expectations as of any subsequent date.

Bollinger Motors Media Contact:
Mike DeVilling
(248) 875-4207,
mdevilling@westshorepr.com

Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

Attachment

• Bergey’s Truck Centers, Started in 1924, has a Commercial Truck Footprint with 26 Locations

FAQ

How many locations does Bollinger Motors' dealer network now cover with the addition of Bergey's Truck Centers?

With the addition of Bergey's Truck Centers, Bollinger Motors' national dealer network has expanded to over 50 locations.

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

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

How many vehicle orders has Bollinger Motors secured through its recent agreements?

Bollinger Motors has secured agreements for 265 vehicles total: 145 with Momentum Group, 70 with Doering Fleet Management, and 50 with EnviroCharge.

When did Bollinger Motors begin delivering its B4 vehicles to customers?

Bollinger Motors began delivering B4 vehicles to customers in October.

Which states are covered by the new Bergey's Truck Centers partnership for MULN's Bollinger subsidiary?

The Bergey's Truck Centers partnership covers Delaware, Maryland, New Jersey, and Pennsylvania.