Mullen Subsidiary Bollinger Motors Announces Start of Production Commencing Sept. 16, 2024, on Class 4 EV Trucks
Mullen Automotive's subsidiary, Bollinger Motors, announces the start of production for its B4 Chassis Cab on Sept. 16, 2024, with deliveries and revenue recognition beginning in October 2024. The Class 4 EV truck features a unique chassis design that protects its 158-kwh battery pack, offering enhanced safety compared to competitors. Bollinger is partnering with Roush Industries for production in Livonia, Michigan.
Recent milestones include EPA certification, sales agreements totaling 205 vehicles, and qualification for $40,000 federal tax credits per vehicle under the Inflation Reduction Act. Bollinger has also secured partnerships for battery supply, warranty administration, and mobile service.
La sussidiaria di Mullen Automotive, Bollinger Motors, annuncia l'inizio della produzione del suo B4 Chassis Cab il 16 settembre 2024, con le consegne e il riconoscimento delle entrate che inizieranno nell'ottobre 2024. Il camion elettrico di Classe 4 presenta un design unico del telaio che protegge il suo pacco batteria da 158 kWh, offrendo una maggiore sicurezza rispetto ai concorrenti. Bollinger sta collaborando con Roush Industries per la produzione a Livonia, nel Michigan.
Tra i recenti traguardi ci sono la certificazione EPA, contratti di vendita per un totale di 205 veicoli e la qualificazione per crediti d'imposta federali di $40.000 per veicolo ai sensi dell'Inflation Reduction Act. Bollinger ha anche ottenuto partnership per la fornitura di batterie, l'amministrazione delle garanzie e i servizi mobili.
La subsidiaria de Mullen Automotive, Bollinger Motors, anuncia el inicio de la producción de su B4 Chassis Cab el 16 de septiembre de 2024, con las entregas y el reconocimiento de ingresos que comenzarán en octubre de 2024. El camión eléctrico de Clase 4 presenta un diseño de chasis único que protege su paquete de baterías de 158 kWh, ofreciendo una mayor seguridad en comparación con la competencia. Bollinger se está asociando con Roush Industries para la producción en Livonia, Michigan.
Los hitos recientes incluyen la certificación de la EPA, contratos de venta que totalizan 205 vehículos y la calificación para créditos fiscales federales de $40,000 por vehículo bajo la Ley de Reducción de Inflación. Bollinger también ha asegurado asociaciones para el suministro de baterías, la administración de garantías y el servicio móvil.
멀렌 오토모티브의 자회사인 볼린저 모터스는 2024년 9월 16일부터 B4 섀시 캡의 생산을 시작한다고 발표했으며, 배송 및 수익 인식은 2024년 10월에 시작됩니다. 이 4급 전기 트럭은 158kWh 배터리 팩을 보호하는 독특한 섀시 디자인을 특징으로 하여 경쟁사에 비해 향상된 안전성을 제공합니다. 볼린저는 미시간주 리보니아에서 생산을 위해 라우시 인더스트리와 협력하고 있습니다.
최근의 이정표로는 EPA 인증, 총 205대의 차량에 대한 판매 계약 및 인플레이션 감축법에 따른 차량당 $40,000의 연방 세금 공제를 받을 수 있는 자격이 포함됩니다. 볼린저는 또한 배터리 공급, 보증 관리 및 모바일 서비스에 대한 파트너십을 확보했습니다.
La filiale de Mullen Automotive, Bollinger Motors, annonce le début de la production de son B4 Chassis Cab le 16 septembre 2024, avec des livraisons et une reconnaissance des revenus commencant en octobre 2024. Le camion électrique de classe 4 présente un design de châssis unique qui protège son pack de batteries de 158 kWh, offrant une sécurité accrue par rapport à ses concurrents. Bollinger s'associe avec Roush Industries pour la production à Livonia, dans le Michigan.
Parmi les récents jalons, on trouve la certification EPA, des contrats de vente totalisant 205 véhicules, et la qualification pour des crédits d'impôt fédéraux de 40 000 $ par véhicule dans le cadre de la loi sur la réduction de l'inflation. Bollinger a également sécurisé des partenariats pour l'approvisionnement en batteries, l'administration des garanties et les services mobiles.
Die Tochtergesellschaft von Mullen Automotive, Bollinger Motors, gibt den Produktionsstart ihres B4 Chassis Cab am 16. September 2024 bekannt, wobei die Auslieferungen und die Umsatzrealisierung im Oktober 2024 beginnen. Der Klasse 4 Elektro-Lkw verfügt über ein einzigartiges Fahrgestelldesign, das seine 158-kWh-Batteriepackung schützt und im Vergleich zu Wettbewerbern erhöhte Sicherheit bietet. Bollinger arbeitet mit Roush Industries zusammen, um in Livonia, Michigan, zu produzieren.
Zu den jüngsten Meilensteinen gehören die EPA-Zertifizierung, Verkaufsvereinbarungen für insgesamt 205 Fahrzeuge und die Qualifikation für federal tax credits in Höhe von $40.000 pro Fahrzeug im Rahmen des Inflation Reduction Act. Bollinger hat außerdem Partnerschaften für die Batterieversorgung, die Garantieverwaltung und den mobilen Service gesichert.
- Production of B4 Chassis Cab to begin on Sept. 16, 2024, with deliveries and revenue recognition starting October 2024
- Secured sales agreements for 205 vehicles with various fleet management companies
- Qualified for $40,000 federal tax credits per vehicle under the Inflation Reduction Act
- Established partnerships for production, battery supply, warranty administration, and mobile service
- Received EPA Certificate of Conformity for the B4 Chassis Cab
- None.
Insights
The announcement of Bollinger Motors' production start for their B4 EV truck marks a significant milestone in the commercial EV sector. The October 2024 delivery timeline positions Bollinger as a serious contender in the rapidly evolving electric commercial vehicle market.
The B4's unique chassis design, which encloses the battery pack, addresses a critical safety concern in the industry. This innovation could be a key differentiator for fleet managers prioritizing long-term reliability and safety.
With several pre-orders already secured and a dealer network in place, Bollinger seems poised for a strong market entry. The
Bollinger's production commencement signals a pivotal moment for parent company Mullen Automotive. The October 2024 revenue recognition timeline provides a clear horizon for investors to assess Mullen's financial outlook.
Pre-existing orders from companies like Doering Fleet Management and Momentum Group indicate early market traction. However, investors should closely monitor production scalability and cost management as Bollinger transitions from development to full-scale manufacturing.
The
Bollinger's partnership with Roush Industries for production is a strategic move. Leveraging Roush's 50 years of experience in engineering and manufacturing could significantly reduce production risks and accelerate time-to-market.
The collaboration with Our Next Energy for battery supply and Amerit Fleet Solutions for mobile services demonstrates a well-thought-out supply chain strategy. This approach could provide Bollinger with the flexibility and reliability needed in the competitive EV market.
However, as with any new vehicle production, potential supply chain disruptions and component shortages remain risks. Bollinger's ability to navigate these challenges will be important for meeting their ambitious production and delivery timelines.
Deliveries and revenue recognition of the B4 EV truck begins October 2024
BREA, Calif., Aug. 21, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today its subsidiary, Bollinger Motors (“Bollinger”), is planning to begin production of saleable units of the Bollinger B4 Chassis Cab on Sept. 16, 2024. Deliveries and revenue recognition of the B4 EV truck is expected to begin in October 2024. A video, highlighting Bollinger’s start of production, can be found here.
The Bollinger B4 Chassis Cab, an all-new Class 4 commercial truck, was designed from the ground up with extensive fleet and upfitter input. Bollinger Motors’ unique, purpose-built EV chassis design encloses and protects the 158-kwh battery pack and components to offer unparalleled capability and safety in the commercial market. The Bollinger B4 clearly differentiates itself from other electric entries which utilize outboard-mounted batteries on repurposed ICE chassis that expose the batteries to potential risk.
Bollinger Motors is partnering on production with Roush Industries, which provides contract manufacturing services from its facility in Livonia, Michigan. The partnership leverages Roush’s deep production and e-mobility expertise, honed over 50 years of innovative engineering, testing, prototyping and manufacturing services – as well as its work in producing the Bollinger B4 Development Vehicles in 2023.
“This is an exciting time in Bollinger Motors’ history, as it takes a monumental team effort to go from start-up to production in the timeframe we have achieved,” said Bryan Chambers, president of Bollinger Motors. “The Bollinger Motors team, Roush Industries and our entire supply chain network has worked tirelessly to make the B4 a reality and I am very proud of everyone’s effort.”
“We are already experiencing strong momentum in the market from important customers throughout the country,” said Jim Connelly, chief revenue officer of Bollinger Motors. “We are confident that we are bringing them a truck that will reward their trust and help transform their business. We cannot wait to get the B4 on the road, electrifying America’s fleets.”
The production date announcement comes on the heels of several other important Bollinger Motors milestones including providing a full warranty coverage of the B4 Chassis Cab, receiving the Certificate of Conformity from the Environmental Protection Agency; a 70 vehicle sale to Doering Fleet Management, an 80 vehicle sale to Momentum Group; a 50 vehicle sale to EnviroCharge; a five vehicle sale to Spencer Manufacturing; the addition of Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Auto Group as dealers and service centers; Our Next Energy in Novi, Michigan, to supply battery packs; Roush Industries in Livonia, Michigan, to manage vehicle assembly operations; Syncron as its warranty administration partner; and Amerit Fleet Solutions as its mobile service provider.
In addition, Bollinger Motors recently qualified for federal clean vehicle tax credits under the Inflation Reduction Act of
To learn more about Bollinger Motors, visit www.BollingerMotors.com.
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
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 are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether the referenced anticipated start of production, delivery and revenue recognition dates will be met, how long federal and other governmental agency rebates and incentives will apply to electric vehicles, and whether the Bollinger B4 will achieve anticipated market success. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s 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’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) 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 with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen 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 Mullen’s plans and expectations as of any subsequent date.
SOURCE Bollinger Motors
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
Corporate Communications:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
Attachment
FAQ
When will Bollinger Motors start production of the B4 Chassis Cab for MULN?
What is the battery capacity of the Bollinger B4 Chassis Cab EV truck?
How much federal tax credit is available for the Bollinger B4 under the Inflation Reduction Act?
Who is Bollinger Motors partnering with for the production of the B4 Chassis Cab?
