Mullen Subsidiary, Bollinger Motors, Announces Pricing for the 2025 B4 Commercial Electric Truck

Rhea-AI Summary

Mullen Automotive subsidiary Bollinger Motors has announced pricing for its 2025 Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, with an MSRP of $158,758. The B4 features a 158-kwh battery pack and began serial production on September 16, 2024, with deliveries starting in October 2024.

Buyers can qualify for over $100,000 in state and federal incentives, including up to $40,000 from the IRS clean vehicle credit and up to $60,000 from California's HVIP program. The B4 is available through Bollinger's national dealer network and can be customized with dealer accessories and factory options, including an e-PTO unit available in January.

Recent developments include vehicle sales to Momentum Group, Doering Fleet Management, and EnviroCharge, as well as dealer and service agreements with several automotive groups.

Positive

• Bollinger B4 Chassis Cab production started on September 16, 2024, with deliveries beginning in October 2024
• Buyers can qualify for over $100,000 in combined state and federal incentives
• IRS approval as a qualified manufacturer for clean vehicle credits, offering up to $40,000 tax credit per vehicle
• CARB certification, enabling eligibility for California's HVIP program with up to $60,000 rebate
• Recent sales of 145 vehicles to Momentum Group, 70 to Doering Fleet Management, and 50 to EnviroCharge
• Expansion of dealer and service center network with multiple automotive groups

Negative

• High initial MSRP of $158,758 for the 2025 Bollinger B4 Chassis Cab
• E-PTO unit option not available until January, potentially limiting immediate functionality for some customers

Insights

Financial Analyst

The pricing announcement for Bollinger Motors' 2025 B4 electric truck is a significant development for Mullen Automotive. With an MSRP of $158,758, the B4 enters a competitive market segment. The potential for over $100,000 in incentives could make this vehicle highly attractive to fleet operators, potentially driving strong demand. This could translate into substantial revenue for Mullen, given the recent sales agreements totaling 265 vehicles. However, investors should note that production has just begun and the company's ability to meet demand and maintain profitability remains to be seen. The e-PTO option slated for January could further enhance the B4's appeal, potentially opening up additional market segments.

Automotive Industry Expert

Bollinger's B4 truck represents a strategic move into the commercial EV sector. The 158-kWh battery pack and unique chassis design address key concerns of fleet operators: range and durability. The commencement of serial production and imminent customer deliveries indicate that Bollinger has overcome initial production hurdles. The establishment of a national dealer network and service agreements with reputable partners like Amerit Fleet Solutions demonstrates a well-thought-out distribution and support strategy. However, the EV commercial truck market is becoming increasingly competitive, with established players also entering the space. Bollinger's success will depend on its ability to differentiate its product and scale production efficiently to meet potential high demand stimulated by the substantial incentives available.

Environmental Policy Analyst

The B4's eligibility for significant incentives under the Inflation Reduction Act and California's HVIP program highlights the strong governmental support for commercial EV adoption. The potential for over $100,000 in combined incentives effectively reduces the vehicle's cost by more than 63%, making the transition to electric fleets economically compelling. This aligns with broader policy goals to reduce commercial transport emissions. The recent CARB certification further enhances the B4's market potential in environmentally progressive states. However, the sustainability of such high incentives long-term is uncertain and Bollinger/Mullen should prepare for a future where these incentives may be reduced. The success of vehicles like the B4 could accelerate the phaseout of incentives as EV adoption increases, potentially impacting future sales growth.

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

BREA, Calif., Sept. 18, 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 released pricing for the 2025 Bollinger B4 Chassis Cab with 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 this week (Sept. 16, 2024) and will begin delivering vehicles to customers in October 2024. The all-electric Bollinger B4 Chassis Cab is now available for order. The Bollinger B4 will be 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 serial 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, Michigan, 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 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 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. The CARB-issued HVIP approval on the Mullen THREE, Class 3 EV truck, provides up to a $45,000 cash voucher at time of vehicle purchase. The Company has also recently expanded its commercial dealer network with the addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group and Eco Auto, providing sales and service coverage in key Midwest, West Coast and Pacific Northwest and New England markets. The Company also recently 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.

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: 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; the impact of incentive programs on the resultant price of the Bollinger B4 Class trucks; and whether the anticipated start of production and vehicle delivery dates will be realized.

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 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

FAQ

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

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

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

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

How much can buyers save in incentives when purchasing a Bollinger B4 electric truck?

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 Mullen Automotive (MULN) received any significant orders for the Bollinger B4 electric truck?

Yes, Mullen has received orders for 145 vehicles from Momentum Group, 70 from Doering Fleet Management, and 50 from EnviroCharge for the Bollinger B4 electric truck.