California Issues HVIP Approval, Granting Bollinger Motors, Class 4 EV Truck a $60,000 Cash Voucher Per Vehicle Sold

Bollinger Motors and HVIP Incentives - The Bollinger B4 electric truck, with a suggested MSRP of $158,758, now qualifies for a rebate of up to$60,000 under the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) [1] - Combined with the $40,000 federal tax credit, the net effective cost of the Bollinger B4 would be less than$60,000 [1] - California-based customers can qualify for incentives up to $100,000 per vehicle when combining HVIP and Inflation Reduction Act incentives [1] Market and Strategic Milestones - HVIP certification is a significant milestone for Bollinger Motors in growing its commercial electric vehicle market share, particularly in California [2] - California is a critical market for the Bollinger B4, as the state has taken a leadership role in creating a market for commercial electric vehicles [2] - The HVIP program has funded more than 12,000 clean vehicle purchases to date [2] Bollinger B4 Specifications and Features - The Bollinger B4 Chassis Cab is an all-electric Class 4 commercial truck with a range of 185 miles and a payload of 7,394 lbs [3] - The vehicle features a unique Quad-Bend chassis design that protects the 158-kwh battery pack and components, offering unparalleled capability and safety [3] - The Bollinger B4 is designed for commercial fleets seeking a world-class truck capable of performing various job functions [3] Recent Achievements and Partnerships - Bollinger Motors launched production on September 16 and achieved regulatory milestones, including FMVSS compliance, EPA certification, and CARB certification [4] - The company secured agreements for 145 vehicles with Momentum Group, 70 vehicles with Doering Fleet Management, and 50 vehicles with EnviroCharge [4] - Bollinger Motors expanded its dealer and service network, adding Anderson Motors, TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group [4] - The company partnered with Our Next Energy for battery supply, Syncron for warranty administration, and Amerit Fleet Solutions for mobile service [4] Company Background - Bollinger Motors, founded in 2015, is a U S-based company headquartered in Oak Park, Michigan, specializing in all-electric commercial chassis cab trucks for Classes 4-6 [5] - In September 2022, Bollinger Motors became a majority-owned subsidiary of Mullen Automotive, Inc (NASDAQ: MULN) [5]