BOLLINGER MOTORS ANNOUNCES PRICING FOR THE 2025 BOLLINGER B4 COMMERCIAL ELECTRIC TRUCK

PR Newswire

OAK PARK, Mich., Sept. 18, 2024

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

OAK PARK, Mich., Sept. 18, 2024 /PRNewswire/ -- Bollinger Motors, Inc. ("Bollinger Motors"), a commercial electric vehicle ("EV") manufacturer, announced today that the 2025 Bollinger B4 Chassis Cab will have 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 the week of September 16, and will begin delivering vehicles to customers in October 2024. The all-electric Bollinger B4 Chassis Cab is now available for order, and is 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 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, Mich. 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 producing all-electric Class-4 commercial chassis cab trucks, with plans to expand into Class 5 in 2025. 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.

FORWARD-LOOKING STATEMENT

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 Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include: (a) Bollinger Motors' ability to finalize a sales agreement with Doering Fleet Management, EnviroCharge, and Momentum Groups and deliver purchased vehicles on schedule; (b) Bollinger Motors' continued partnership with Nacarato Truck Centers, Nuss Truck & Equipment, TEC Equipment, Affinity Truck Center, and LaFontaine Automotive Group as dealers and service centers; (c) Bollinger Motors' continued partnership with Our Next Energy as a battery supplier; (d) Bollinger Motors' continued relationship with Syncron as its warranty administration provider; (e) Bollinger Motors' continued relationship with Amerit Fleet Solutions as its mobile service provider; and (f) Bollinger Motors reserves the right to edit the MSRP of the B4 at any time, as necessary.

Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Motors' ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Motors' ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Bollinger Motors' ability to successfully expand in existing markets and enter new markets; (iv) 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 Bollinger Motors' business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Motors' business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Motors' business; (x) 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. Bollinger Motors anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Bollinger Motors assumes no obligation, and it specifically disclaims 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 Bollinger Motors' plans and expectations as of any subsequent date.