Mullen Subsidiary, Bollinger Motors, Names Next 2 Dealers in 7 States and 11 Locations
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Insights
The strategic expansion of Bollinger Motors' dealership network, particularly across seven states with 11 new locations, is a significant move for Mullen Automotive in the electric vehicle (EV) commercial market. This expansion is indicative of the growing demand for EVs in the commercial sector and Bollinger's commitment to establishing a strong market presence. The focus on commercial electric trucks, such as the Bollinger B4 Chassis Cab, suggests a targeted approach to capture fleet operators looking to transition to electric vehicles, a market with considerable growth potential.
The partnerships with Nacarato Truck Centers and Nuss Truck and Equipment could enhance Bollinger's distribution capabilities and after-sales support, which are critical factors for fleet operators. The geographical coverage of the new dealership groups aligns with some of the busiest trucking hubs, which could lead to increased sales volume and market penetration. The anticipated deliveries set for the second half of 2024 will require close monitoring to assess the impact on Mullen Automotive's revenue and market share in the EV segment.
The qualification for federal clean vehicle tax credits under the Inflation Reduction Act, amounting to $40,000 per vehicle, represents a significant financial incentive for potential customers of the Bollinger B4 Chassis Cab. This could improve the total cost of ownership calculations for fleet operators, potentially accelerating adoption rates and increasing the attractiveness of Bollinger's offerings compared to competitors.
Investors should consider the capital expenditures associated with such an expansion and the company's ability to manage inventory and supply chain challenges that are common in the automotive industry. The long-term financial health of Mullen Automotive will be influenced by the successful execution of these dealership partnerships and the market's reception of the Bollinger B4 Chassis Cab.
The Bollinger B4 Chassis Cab's design, featuring a 158-kilowatt-hour battery pack and a unique chassis that prioritizes component protection, suggests a product engineered with durability and safety in mind. This could be a differentiating factor in the commercial EV market, where reliability and total cost of operation are paramount.
It is also notable that Bollinger Motors has engaged in partnerships for battery supply and vehicle assembly operations. These collaborations could be strategic moves to streamline production and ensure quality control, which are essential for establishing credibility in the commercial EV space. The impact of these partnerships on production efficiency and cost-effectiveness will be critical to Bollinger's success in the competitive EV industry.
Nacarato Truck Centers and Nuss Truck and Equipment named as next two dealership groups covering Florida, Georgia, Kentucky, Maryland and Minneapolis, Minnesota
BREA, Calif., March 05, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces its subsidiary, Bollinger Motors, has named the next two dealership groups, spanning seven states and 11 locations, as Bollinger rolls out its commercial electric truck line, beginning with the Bollinger B4 Chassis Cab in the second half of 2024.
The dealership groups are:
- Nacarato Truck Centers – 10 locations in Florida, Georgia, Kentucky, Maryland, Tennessee and Virginia.
- Nuss Truck and Equipment – one location in Minneapolis, Minnesota.
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 anticipates deliveries of the Bollinger B4 to begin in the second half of 2024.
“We are building our national dealer network very strategically to ensure that they share Bollinger’s commitment to quality and customer service,” said Robert Bollinger, founder and CEO of Bollinger Motors. “These two dealership groups represent some of the busiest trucking hubs in the country and we welcome these new locations to the Bollinger family as we work to electrify fleets across the country.”
Today’s announcement follows a series of Bollinger Motors announcements in recent months, including partnerships with Our Next Energy in Novi, Michigan, to supply the company with batteries and related components and Roush Industries in Livonia, Michigan, to manage vehicle assembly operations. The company recently qualified for federal clean vehicle tax credits under the Inflation Reduction Act of
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 Nacarato Truck Centers
Nacarato Truck Centers is a group of authorized Volvo Truck, Tico Terminal Tractor, and used semitruck dealerships and Service Centers serving the Tennessee, Virginia, Southern Kentucky, Maryland, Illinois, Florida and Georgia areas with 47 years in the trucking industry. Starting from a single dealership in Nashville, we have expanded to a 13-dealership group with the same moral principles that the dealership was founded on. Three generations of the Nacarato family have kept this dream alive and continue to steer this company to where we are today.
For more information, visit www.NacaratoTruckCenters.com.
About Nuss Truck & Equipment
With nine locations in Minnesota and western Wisconsin, Nuss Truck & Equipment is the region’s largest dealer of new and used Mack and Volvo Trucks, and Volvo Construction Equipment. Established in 1959, Nuss has become a leading provider of service, parts, trailers, rentals and custom-engineered solutions for the trucking and construction industries. With headquarters in Rochester and Roseville, Minnesota, Nuss is proud of its commitment to safety and exceptional service.
For more information and a list of locations, visit www.Nussgrp.com.
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana.
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 the expected features and performance standards of the Bollinger B4 Chassis Cab, whether the anticipated delivery dates will materialize and whether the two referenced dealership group relationships will prove successful. 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.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
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Los Angeles, California
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310.299.1717 Office
Editor@InvestorBrandNetwork.com
FAQ
Which dealership groups were named by Mullen Automotive Inc. for Bollinger Motors?
What states will be covered by the new dealership groups announced by Mullen Automotive Inc.?
What type of commercial electric truck line is Bollinger Motors rolling out?
When are the deliveries of the Bollinger B4 Chassis Cab expected to begin?
What partnerships has Bollinger Motors recently announced?
