Mullen Subsidiary, Bollinger Motors, Continues Westward Expansion, Adds Affinity Truck Center to Its Retail Network
Mullen Automotive's subsidiary, Bollinger Motors, has expanded its retail network by adding Affinity Truck Center as an official dealer. Affinity, a California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) certified dealership, operates in multiple California locations. The Bollinger B4, an all-electric Class 4 commercial truck, will begin serial production on September 16, 2024, with deliveries starting in October 2024.
This expansion follows recent milestones for Bollinger, including partnerships with other dealers, full warranty coverage for the B4 chassis cab, EPA certification, and significant vehicle sales to various companies. The move strengthens Bollinger's presence in California's Central Valley and supports the region's transition to electric vehicles.
La filiale di Mullen Automotive, Bollinger Motors, ha ampliato la sua rete di vendita aggiungendo Affinity Truck Center come concessionario ufficiale. Affinity, un concessionario certificato dal California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), opera in diverse località della California. Il Bollinger B4, un camion commerciale completamente elettrico di classe 4, inizierà la produzione in serie il 16 settembre 2024, con le consegne che inizieranno nell'ottobre 2024.
Questa espansione segue importanti traguardi per Bollinger, tra cui collaborazioni con altri concessionari, una copertura di garanzia completa per il telaio del B4, certificazione EPA e vendite significative di veicoli a diverse aziende. Questa mossa rafforza la presenza di Bollinger nella Central Valley della California e supporta la transizione della regione verso veicoli elettrici.
La subsidiaria de Mullen Automotive, Bollinger Motors, ha ampliado su red de venta al añadir Affinity Truck Center como concesionario oficial. Affinity, un concesionario certificado por el California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), opera en múltiples ubicaciones en California. El Bollinger B4, un camión comercial completamente eléctrico de clase 4, comenzará la producción en serie el 16 de septiembre de 2024, con entregas programadas para octubre de 2024.
Esta expansión sigue a hitos recientes para Bollinger, que incluyen asociaciones con otros concesionarios, cobertura completa de garantía para la cabina del chasis B4, certificación de la EPA y ventas significativas de vehículos a varias empresas. Este movimiento refuerza la presencia de Bollinger en el Valle Central de California y apoya la transición de la región hacia vehículos eléctricos.
Mullen Automotive의 자회사인 Bollinger Motors가 공식 대리점으로 Affinity Truck Center를 추가하여 소매 네트워크를 확장했습니다. Affinity는 캘리포니아 하이브리드 및 제로-배출 트럭 및 버스 바우처 인센티브 프로젝트(HVIP) 인증 대리점으로, 여러 캘리포니아 지역에서 운영됩니다. Bollinger B4는 전기 상업용 4등급 트럭으로, 2024년 9월 16일에 본격 생산을 시작하며, 2024년 10월부터 배송이 시작될 예정입니다.
이번 확장은 Bollinger의 다른 대리점과의 파트너십, B4 섀시 캡에 대한 전체 보증, EPA 인증, 여러 기업에 대한 중요한 차량 판매 등 최근의 이정표를 따릅니다. 이번 조치는 볼린저의 캘리포니아 센트럴 밸리에서의 입지를 강화하고 지역의 전기차 전환을 지원합니다.
La filiale de Mullen Automotive, Bollinger Motors, a élargi son réseau de vente en ajoutant Affinity Truck Center comme concessionnaire officiel. Affinity, un concessionnaire certifié par le California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), opère à plusieurs endroits en Californie. Le Bollinger B4, un camion commercial entièrement électrique de classe 4, commencera sa production en série le 16 septembre 2024, avec des livraisons prévues pour octobre 2024.
Cette expansion fait suite à des jalons récents pour Bollinger, notamment des partenariats avec d'autres concessionnaires, une couverture de garantie complète pour la cabine du châssis B4, une certification EPA, et des ventes significatives de véhicules à diverses entreprises. Cette démarche renforce la présence de Bollinger dans la Central Valley en Californie et soutient la transition de la région vers les véhicules électriques.
Die Tochtergesellschaft von Mullen Automotive, Bollinger Motors, hat ihr Einzelhandelsnetz erweitert, indem sie Affinity Truck Center als offiziellen Händler hinzugefügt hat. Affinity, ein nach dem California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) zertifizierter Händler, ist an mehreren Standorten in Kalifornien tätig. Der Bollinger B4, ein vollelektrischer Nutzfahrzeug der Klasse 4, wird am 16. September 2024 mit der Serienproduktion beginnen, die Auslieferungen starten im Oktober 2024.
Diese Expansion folgt auf kürzliche Meilensteine für Bollinger, darunter Partnerschaften mit anderen Händlern, eine vollständige Garantieabdeckung für das B4-Chassis und bedeutende Fahrzeugverkäufe an verschiedene Unternehmen. Dieser Schritt stärkt Bollingers Präsenz im kalifornischen Central Valley und unterstützt den Übergang der Region zu elektrischen Fahrzeugen.
- Expansion of Bollinger Motors' retail network with the addition of Affinity Truck Center
- Bollinger B4 production set to begin on September 16, 2024, with deliveries in October 2024
- Recent sales of 145 vehicles to Momentum Group, 70 to Doering Fleet Management, and 50 to EnviroCharge
- Partnerships with multiple dealers and service centers across different regions
- EPA Certificate of Conformity received for the B4 chassis cab
- None.
Insights
Mullen Automotive's expansion of its Bollinger Motors subsidiary's retail network is a strategic move to strengthen its presence in the electric commercial vehicle market. The addition of Affinity Truck Center, an HVIP-certified dealership, could potentially boost sales in California's Central Valley. However, the impact on Mullen's stock might be in the short term.
While the expansion is positive, investors should note that production of the B4 chassis cab is set to begin on
Mullen's expansion strategy through Bollinger Motors shows promise, but investors should exercise caution. The company is still in its early stages, with production of the B4 chassis cab yet to commence. While the addition of Affinity Truck Center to the retail network is positive, it's important to monitor actual sales figures and revenue generation once production begins.
The recent sales agreements (145 vehicles to Momentum Group, 70 to Doering Fleet Management, 50 to EnviroCharge) provide some revenue visibility. However, without concrete financial data, it's challenging to assess the profitability and cash flow implications. Investors should keep an eye on Mullen's cash burn rate and its ability to fund operations until significant revenues materialize.
The Bollinger B4's unique chassis design, which protects the 158-kWh battery pack, could be a significant differentiator in the commercial EV market. The focus on safety and capability aligns well with fleet requirements. The partnership with Our Next Energy for battery supply is also noteworthy, potentially ensuring a stable supply chain.
However, the competitive landscape in the commercial EV sector is intensifying. Established players and startups are rapidly entering this space. Mullen and Bollinger will need to demonstrate superior performance, reliability and total cost of ownership to gain significant market share. The success of the B4 will largely depend on its real-world performance and the company's ability to scale production efficiently.
Affinity has served California’s transportation needs since 1980 and has built longstanding relationships with local businesses and continues to provide California’s Central Valley with superior equipment and services
Affinity Truck Center is a California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”) certified dealership
BREA, Calif., Sept. 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 Affinity Truck Center (“Affinity”) as an official Bollinger Motors dealer. Affinity operates sales locations in Bakersfield and Fresno, California, and service locations in Paso Robles and Salinas, California. Affinity Truck Center is a California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”) certified dealership.
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 begins serial production of the B4 on Sept. 16, 2024, and will begin delivering vehicles to customers in October 2024.
“The addition of Affinity Truck Center gives Bollinger Motors a strong foothold in California’s Central Valley,” said Jim Connelly, chief revenue officer for Bollinger Motors. “Affinity has a rich history providing a variety of transportation options and is well positioned to help our team bring electrification and customer support to this critical market.”
Affinity is a family-owned business founded in 1980, with headquarters in the heart of California’s Central Valley. The company sells and supports a variety of top trucking brands and provides industry leading support for sales, service and financing.
“We look forward to bringing the Bollinger B4 to our customers from our Bakersfield and Fresno locations,” said Kim Mesfin, Affinity president. “We share Bollinger Motors’ bold vision for creating electric vehicle options in the fleet space and are excited to help improve the valley’s air quality with these electric trucks.”
The addition of Affinity Truck Center follows a series of Bollinger Motors’ milestones in recent months including the addition of TEC Equipment to Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group as dealers and service centers; providing full warranty coverage of the B4 chassis cab; receiving the Certificate of Conformity from the Environmental Protection Agency; a 145-vehicle sale to Momentum Group, a 70-vehicle sale to Doering Fleet Management, a 50-vehicle sale to EnviroCharge; Our Next Energy in Novi, Michigan, to supply battery packs; and Amerit Fleet Solutions as its mobile service provider.
About Affinity Truck Center
Located in the heart of California’s Central Valley, Affinity carries a wide variety of trucks to handle an array of medium and heavy-duty trucking needs. The company has served California’s transportation needs since 1980 and has built longstanding relationships with local businesses and continues to serve California’s Central Valley with superior equipment and services. The company’s full-service dealership is backed with the promise to help businesses succeed, whether they are expanding a fleet or just getting started.
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 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
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