via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today its subsidiary, Bollinger Motors, has reached an agreement to
sell 70 all-electric Class 4 Bollinger B4 commercial trucks to
Doering Fleet Management (“Doering”), one of the nation’s premier
fleet management companies. The vehicle order is valued at
approximately $11.5 million with first vehicle deliveries in late
2024. The Bollinger B4 will be the first Class 4 medium duty,
all-electric truck offered by Doering.
“Our agreement with Doering Fleet Management is another
important step forward for Bollinger Motors,” said Jim Connelly,
chief revenue officer of Bollinger Motors. “Doering is one of the
top names in the fleet management world and we are honored to have
the Bollinger B4 become an environmentally friendly fleet option
for their customers across the country.”
Doering has built its reputation over three decades through
outstanding customer service and by matching their customers with
the right vehicles for their unique business needs. The Bollinger
B4 will be the first medium duty, all-electric truck offered by
Doering.
“The Bollinger B4 is an innovative, world-class electric truck
with outstanding performance and capability, and Bollinger Motors
shares our commitment to outstanding customer service,” said Adam
Berger, president of Doering Fleet Management. “For our customers
seeking a medium duty electric truck, the Bollinger B4 will be a
great option to meet their needs. We look forward to bringing the
B4 into our suite of offerings.”
The Bollinger B4 Chassis Cab is an all-new, battery electric
Class 4 commercial truck designed from the ground up with extensive
fleet and upfitter input. Bollinger's unique chassis design
protects the 800-volt battery and components to offer unparalleled
capability, flexibility, performance and serviceability in the
commercial market. Bollinger Motors recently qualified for federal
clean vehicle purchasing incentives under the Inflation Reduction
Act, which provides $40,000 in refundable tax credits per
truck.
Bollinger Motors has reached several milestones in recent
months, including: receiving the Certificate of Conformity from the
Environmental Protection Agency; an 80 vehicle sale to Momentum
Groups; a 50 vehicle sale to EnviroCharge; a five vehicle sale with
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.
About Doering Fleet Management Doering Fleet
Management is a national fleet management provider serving clients
across the USA through offices nationwide. Doering has a unique
value proposition focused on career professionals driving long-term
relationships with clients. Doering does not seek to be the
largest, but rather focuses on being the best fleet management
provider clients choose. Doering operates TESlease®
(Transportation, Electric, Sustainable), an EV fleet leasing
business since 2015, and DreamLease, an exotic vehicle leasing
division. Doering also has a robust government and municipal fleet
management group based in Orlando, Florida.
To learn more about the company, visit
www.DoeringFleetManagement.com
About Bollinger MotorsFounded 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 MullenMullen 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, the timing of completion and delivery of vehicles
contemplated by the Doering Fleet Management order, the final
purchase value of the order and the continued availability of
governmental incentives for electric vehicle purchases.
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)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
Mullen Automotive (NASDAQ:MULN)
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