Mullen Subsidiary, Bollinger Motors, Announces Warranty Coverage for B4 Chassis Cab EV Truck

Rhea-AI Summary

Mullen Automotive's subsidiary, Bollinger Motors, has announced comprehensive warranty coverage for its B4 Chassis Cab EV Truck. The EPA-certified B4 offers one of the strongest warranties in the commercial market, including:

• Bumper-to-bumper: 3-year/36,000-miles
• Powertrain: 5-year/50,000-miles
• High-voltage battery: 8-year/100,000-miles
• Frame rails and cross-members: 5-years/unlimited miles
• Corrosion (perforation only): 5-years/unlimited miles

Bollinger expects B4 deliveries to begin in the second half of 2024. The company has achieved several milestones, including EPA certification, multiple vehicle sales, and partnerships with key suppliers and service providers. Former GM executive James Taylor has been appointed as CEO, positioning Bollinger for continued success as it prepares for production.

Positive

• Comprehensive warranty coverage for B4 Chassis Cab EV Truck, enhancing product appeal
• EPA certification received for the B4 model
• Multiple vehicle sales secured with various fleet management companies
• Partnerships established with key suppliers and service providers
• Appointment of experienced former GM executive James Taylor as CEO

Negative

• Deliveries of B4 not expected until second half of 2024, potentially delaying revenue generation

Insights

Financial Analyst

The Bollinger B4 warranty announcement is a significant move for Mullen Automotive, demonstrating their commitment to product reliability and customer satisfaction. From a financial perspective, the comprehensive warranty coverage could have multiple implications:

• Customer Confidence: The extensive warranty is likely to bolster customer confidence, reducing perceived risk and potentially accelerating sales. This could lead to increased revenue streams in both the short and long term.
• Cost Implications: Offering such an extensive warranty means Mullen Automotive is confident in the product’s durability. However, there's an inherent financial risk in potential future warranty claims. The company must balance this with their financial reserves and ensure they have adequate provisions for any claims.
• Market Positioning: The warranty positions Bollinger B4 competitively within the commercial EV market, likely enhancing market share and brand reputation. It signals to investors a strategic move towards cementing their market presence and reliability.

Tech Expert

Technological Perspective: The Bollinger B4’s warranty specifics give insight into the technological confidence Mullen Automotive has in their product. For instance:

• High-Voltage Battery: An 8-year/100,000-mile warranty on the high-voltage battery is a strong indicator of the battery's expected longevity and reliability. This warranty period aligns with industry leaders and reassures customers about the EV’s long-term viability.
• Frame and Corrosion Protection: A 5-year unlimited miles warranty on frame rails and corrosion protection indicates high engineering standards. This suggests advanced materials and coatings are used, which can be a key selling point for fleet managers concerned with long-term vehicle integrity.

Overall, these warranties highlight Mullen's investment in robust and durable EV technology, offering confidence to both investors and potential customers about the vehicle’s quality and longevity.

Market Research Analyst

Market Impact: The Bollinger B4’s comprehensive warranty can significantly influence market dynamics. Here’s how:

• Competitive Edge: The warranty sets Bollinger B4 apart from competitors in the commercial EV market, which is important as fleets look for reliable and cost-effective solutions. It can attract new customers who prioritize long-term vehicle reliability.
• Partnerships and Sales: The mention of partnerships and sales to entities like Doering Fleet Management and Spencer Manufacturing underscores growing market traction. These partnerships can lead to more sales and enhanced market visibility.
• Future Growth: The strategic move to offer such warranties, coupled with key partnerships and sales milestones, indicates a robust go-to-market strategy. This is an encouraging sign for investors looking for long-term growth potential in the EV market.

In summary, the warranty announcement not only promises potential revenue growth but also solidifies Bollinger B4's position as a reliable player in the commercial EV market.

The EPA certified B4 provides one of the strongest warranties in the commercial market today

Warranty includes: Bumper-to-bumper, 3-year/36,000-miles; powertrain, 5-year/50,000-mile; high-voltage battery, 8-year/100,000-miles; frame rails and cross-members, 5-years/unlimited miles; corrosion (perforation only), 5-years/unlimited miles

BREA, Calif., July 23, 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”), releases its full warranty coverage on the Bollinger B4 Chassis Cab, the company’s all-new, all-electric Class 4 commercial truck.

Under the warranty, Bollinger will provide comprehensive, competitive coverage for:

• Bumper-to-bumper: 3-year/36,000-miles
• Powertrain: 5-year/50,000-miles
• High-voltage battery: 8-year/100,000-miles
• Air conditioning: 5-year/50,000-miles
• Frame rails and cross-members: 5-years/unlimited miles
• Corrosion (perforation only): 5-years/unlimited miles
• Tires: 4-years/unlimited miles

“We have designed and engineered the Bollinger B4 to have unmatched capability and durability, and we are proud to be offering warranty coverage to reflect that,” said Jim Connelly, chief revenue officer of Bollinger Motors. “Our warranty provides our customers the peace of mind they need in making their decision and demonstrates the confidence we have in the B4.”

The Bollinger B4 is designed from the ground up with extensive fleet and upfitter input. Bollinger’s unique chassis design protects the 158-kilowatt-hour, dual-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.

Warranty availability is another important next step in bringing the Bollinger B4 to market. The company has reached several milestones in recent months, including: receiving the Certificate of Conformity from the Environmental Protection Agency; a 70 vehicle sale to Doering Fleet Management; a five vehicle sale to Spencer Manufacturing, which will upfit the vehicles into emergency rescue trucks; an 80 vehicle sale to Momentum Group; a 50 vehicle sale to EnviroCharge; 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 to Bollinger Motors’ growth, it recently named former General Motors’ executive James Taylor as CEO. He takes over for company founder Robert Bollinger, who is a founding shareholder and will remain on the company’s Board of Directors. This leadership change positions Bollinger Motors for continued success as the company prepares for production.

To learn more about preordering the B4 Chassis Cab, 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 $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 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 are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, what if any impact the warranty will have on vehicle sales and the timing of completion and delivery of the Bollinger B4. 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

MEDIA CONTACTS:
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 warranty coverage does Bollinger Motors offer for the B4 Chassis Cab EV Truck?

Bollinger Motors offers comprehensive warranty coverage for the B4 Chassis Cab EV Truck, including 3-year/36,000-miles bumper-to-bumper, 5-year/50,000-mile powertrain, 8-year/100,000-miles high-voltage battery, and 5-years/unlimited miles for frame rails, cross-members, and corrosion perforation.

When are deliveries of the Bollinger B4 expected to begin?

Deliveries of the Bollinger B4 are anticipated to begin in the second half of 2024.

Who is the new CEO of Bollinger Motors?

James Taylor, a former General Motors executive, has been appointed as the new CEO of Bollinger Motors.

What recent milestones has Bollinger Motors achieved for the B4 Chassis Cab EV Truck?

Bollinger Motors has achieved several milestones for the B4, including EPA certification, multiple vehicle sales to fleet management companies, partnerships with suppliers and service providers, and the appointment of a new CEO.

What is the stock symbol for Mullen Automotive, Bollinger Motors' parent company?

The stock symbol for Mullen Automotive, Bollinger Motors' parent company, is MULN (NASDAQ: MULN).