NYTVIP, other Northeast state incentives can
provide up to an additional $100,000
credit to Bollinger Motors customers
OAK
PARK, Mich., Nov. 7, 2024
/PRNewswire/ -- Bollinger Motors today announced it is now
eligible for New York state's New
York Truck Voucher Incentive Program (NYTVIP), an incentive for
commercial electric vehicles from the New
York State Energy and Research Development Authority
(NYSERDA).
New York is the fourth state
incentive in the Northeast which Bollinger Motors has qualified
for, including:
- Massachusetts: voucher up to a
$30,000 from Massachusetts Offers
Rebates for Electric Vehicles (MOR-EV)
- New Jersey: voucher up to
$90,000 from New Jersey Zero Emission
Incentive Program (NJ ZIP) through the New Jersey Education
Development Authority (NJEDA)
- New York: up to $100,000 from NYTVIP through NYSERDA; and
- Pennsylvania: up to a
$20,000 grant from Alternative Fuels
Incentive Grant Program (AFIG) the Pennsylvania Department of
Environmental Protection.
The 2025 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.
"We applaud the states in the Northeast who are working hard to
create more sustainable transportation options," said Jim Connelly, chief revenue officer for
Bollinger Motors. "The commercial fleet market is primed for
electrification, and the incentives available in the Northeast will
accelerate the adoption of this important technology."
In addition to state incentives, the Bollinger B4 Chassis Cab
has qualified for federal clean vehicle tax credits under the
Inflation Reduction Act ("IRA") of $40,000 per vehicle. The state incentives coupled
with the IRA can offer Bollinger Motors Northeast customers between
$70,000 and $140,000 in incentives.
"The financial incentives combined with the versatility of the
class-4 B4 to perform a variety of duty cycles creates incredible
value for our customers," Connelly said. "The B4 is a world-class,
highly engineered vehicle that is capable and durable. It is well
suited for urban driving. It will be an important part of many
commercial fleets moving forward."
Bollinger Motors has passed numerous milestones in the past
several months, including:
- Its production launch on Sept.
16;
- Regulatory achievements including FMVSS compliance,
receiving the Certificate of Conformity from the Environmental
Protection Agency, and CARB certification;
- A 145-vehicle sale to Momentum Group;
- A 70-vehicle sale to Doering Fleet Management;
- A 50-vehicle sale to EnviroCharge;
- The addition of Anderson Motors, TEC Equipment, Affinity
Truck Center, Nacarato Truck Centers, Nuss
Truck & Equipment, and LaFontaine Automotive Group as
dealers and service centers;
- Working with Our Next Energy in Novi, Michigan, to supply battery packs;
- Providing a full warranty coverage of the B4 chassis cab;
and,
- Announcing Syncron as its warranty administration partner
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
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.
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 Anderson Motors, Affinity Truck Center, Nacarato Truck
Centers, TEC Equipment, Nuss Truck & Equipment, 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; (f) the ability of Bollinger Motors and its
dealer partners to sell the Bollinger B4 to customers at suggested
retail value; and (g) the actual incentive values Bollinger Motors'
customers can successfully qualify for and earn.
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.
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SOURCE Bollinger Motors