Bollinger’s common stock will be traded on the OTC Markets to align with Company’s operating strategy and to provide critical investor access and trading The move follows Bollinger’s withdrawal from the Nasdaq hearings process The Company will continue to trade under stock ticker symbol, BINI, on the OTC Markets The Company will continue to evaluate the various market tiers available within OTC Markets, as well as trading on an international exchange BREA, Calif., Oct. 09, 2025 (GLOBE NEWSWIRE) -- via ...

Core Insights - Bollinger Innovations, Inc. has announced the sale of 30 commercial electric vehicles (EVs) valued at $1,074,035 to various companies, including Ziegler Truck Group and DB Schenker [1][2] - The company has received full payment from DB Schenker and expects to receive full payment from Ziegler and Range Truck Groups by September 30, 2025 [2] - The sold vehicles include 20 Class 1 urban delivery EV cargo vans, six Class 3 urban utility EV trucks, and four Class 4 all-electric Bollinger B4 trucks [1] Company Performance - Bollinger Motors is increasing its vehicle delivery rate, with shipments ongoing through the quarter ending September 30, 2025 [3] - The demand for Bollinger's EV product lineup is reportedly growing as vehicles are delivered to customers [3] - The company's recent restructuring has led to a more efficient sales model, resulting in strong sales performance in a short period [3] Product Lineup - The commercial EV lineup includes the Class 1 urban delivery EV cargo van, Class 3 urban utility EV cab chassis truck, and the Class 4 Bollinger B4 chassis cab, designed for urban operations [3] - All vehicles are certified and available for sale across the United States [3] Company Background - Bollinger Innovations is based in Southern California and operates a vehicle manufacturing facility in Tunica, Mississippi [4] - The company has developed a dealer network of six dealers, providing sales and service coverage in key markets across the U.S. [4] - Bollinger Motors has achieved significant milestones, including the production launch of the B4 Class 4 electric truck on September 16, 2024, and establishing a dealer network with over 50 locations for sales and service support [5]

Core Viewpoint - Bollinger Innovations, Inc. is focused on reducing cash burn and streamlining operations by moving manufacturing to a company-owned facility, while also increasing shareholder equity significantly. Financial Results - For the nine months ending June 30, 2025, the net loss attributable to common shareholders was $291.8 million, compared to a loss of $289.9 million for the same period in 2024, reflecting a slight increase in losses [5] - The total cash spent on operating and investing activities decreased by 53.7% to $73.6 million from $159.2 million in the previous year [7] - The company had total cash of $0.9 million as of June 30, 2025, down from $10.7 million on September 30, 2024, with negative working capital of $144.1 million [6] Operational Highlights - The company initiated a strategic move to transfer Bollinger B4 manufacturing from Roush Industries in Michigan to its facility in Tunica, Mississippi, aiming to reduce costs and improve efficiency [2] - A pricing adjustment of $7,500 on Class 1 and Class 3 commercial EVs was announced, which can be combined with a federal tax credit for total savings of up to $15,000 per vehicle [4] - The company has begun accepting cryptocurrency for vehicle purchases, including Bitcoin and the $TRUMP meme coin [4] Equity and Financing - Following recent transactions, the estimated stockholders' equity of the company as of August 14, 2025, exceeds $3 million, significantly increasing from previous levels [12] - Net cash provided by financing activities was $63.7 million for the nine months ended June 30, 2025, compared to $7.5 million for the same period in 2024 [7] Sales and Deliveries - Recent sales include the delivery of a Bollinger B4 truck to The Lower East Side Ecology Center in New York City and an Urban Delivery Class 1 EV cargo van to Global Expert Shipping [4] - The company is actively participating in ride-and-drive events to increase awareness of its commercial fleet offerings [4] Manufacturing and Technology Partnerships - In April 2025, the company signed a partnership with Enpower Greentech Inc. to develop solid-state battery technology [9] - The company showcased two battery packs at the ACT show in May 2025, indicating ongoing advancements in battery technology [9]

Core Insights - Bollinger Innovations, Inc. is offering additional price adjustments of $7,500 on existing inventory of the Mullen ONE and Mullen THREE electric vehicles, leading to a total savings of $15,000 when combined with federal tax credits [1][2][4] Group 1: Product Pricing and Incentives - The Mullen ONE, a Class 1 EV cargo van, has an MSRP of $27,000, while the Mullen THREE, a Class 3 EV cab chassis truck, is priced at $61,000 [2] - Customers can benefit from an additional $7,500 incentive through the Inflation Reduction Act if they receive delivery before the September 30 deadline [2][4] Group 2: Company Rebranding and Strategy - Bollinger Innovations, previously known as Mullen Automotive, changed its name and Nasdaq ticker symbol (Nasdaq: BINI) on July 28 to streamline operations [3] - The Mullen ONE and Mullen THREE will be rebranded as Bollinger Motors vehicles in the 2026 model year [3] Group 3: Product Line and Future Plans - The product lineup includes the Bollinger B4 Class 4 commercial electric truck, with plans to introduce a Class 5 truck in the 2027 model year [4][5] - The company aims to provide a range of affordable commercial EV options to fleet customers, enhancing sustainability in vehicle fleets [5] Group 4: Manufacturing and Dealer Network - Bollinger Innovations operates a U.S.-based manufacturing facility in Tunica, Mississippi, and has a commercial dealer network of seven dealers across key markets [5] - Bollinger Motors, a subsidiary, has established a dealer network with over 50 locations in the U.S. for sales and service support [6]

Core Insights - Mullen Automotive's subsidiary, Bollinger Motors, highlights that August will be an optimal time to purchase commercial electric vehicles due to the replenishment of state incentives in New York [1][3] - The New York Truck Voucher Incentive Program (NYTVIP) offers credits ranging from $85,000 to $144,000, significantly enhancing the affordability of commercial EVs when combined with federal tax credits [2][3] - The Bollinger B4, an all-electric Class 4 truck, is designed to meet the needs of commercial fleets and is supported by various incentive programs [4][5] Company Overview - Bollinger Motors, founded in 2015 and headquartered in Oak Park, Michigan, is a majority-owned subsidiary of Mullen Automotive since September 2022 [6][8] - Mullen Automotive operates two vehicle plants in the U.S. and began commercial vehicle production in August 2023, with its EVs certified for sale in the U.S. [7] - The company has established a dealer network of seven dealers across key U.S. markets to support sales and service [7] Product Details - The Bollinger B4 features a unique chassis design that protects its 158-kWh battery pack, providing enhanced capability and safety for commercial applications [4] - The vehicle's patented Quad Bend frame construction allows for a tighter turning radius, making it suitable for urban environments [5]

Core Viewpoint - Mullen Automotive has finalized a settlement with GEM Yield Bahamas Limited and GEM Global Yield LLC, resolving all outstanding legal disputes and allowing the company to focus on its operational priorities moving forward [1][2][3] Company Overview - Mullen Automotive is an electric vehicle manufacturer based in Southern California, with two vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana [4] - The Mishawaka facility spans approximately 780,000 square feet on nearly 58 acres, originally constructed for Hummer H2 production by General Motors [4] Recent Developments - Mullen began commercial vehicle production in Tunica in August 2023, with the Mullen ONE and Mullen THREE receiving CARB and EPA certification as of January 2024 [5] - The company has established a commercial dealer network across key U.S. markets, including the West Coast, Midwest, and New England [5] - Bollinger Motors, a majority-owned subsidiary of Mullen, launched production of its Class 4 electric truck, the B4, on September 16, 2024, and has developed a dealer network with over 50 locations [6]

Core Viewpoint - Mullen Automotive has reached a settlement agreement with GEM Yield Bahamas Limited and GEM Global Yield LLC, marking a significant step towards resolving ongoing litigation and allowing the company to focus on future growth [1][2][5]. Company Overview - Mullen Automotive is an electric vehicle manufacturer based in Southern California, operating two vehicle plants in the U.S. located in Tunica, Mississippi (120,000 square feet) and Mishawaka, Indiana (650,000 square feet) [2]. - The company began commercial vehicle production in Tunica in August 2023, with its Mullen ONE and Mullen THREE models certified by the California Air Resource Board and EPA as of January 2024 [2]. - Mullen's commercial dealer network includes seven dealers, providing sales and service coverage across key markets in the U.S. [2]. Recent Developments - The settlement agreement with GEM includes a 55-day due diligence period for GEM to evaluate the transfer of Mishawaka assets, during which all collection activities have been suspended [5]. - Mullen continues to expand its manufacturing capabilities in Tunica to meet both near and long-term demands for its product lines [5]. Strategic Acquisitions - In September 2022, Mullen acquired a majority stake in Bollinger Motors, which has achieved significant milestones, including the launch of its B4 Class 4 electric truck production on September 16, 2024, and the establishment of a dealer and service network with over 50 locations across the U.S. [3].

Core Insights - Mullen Automotive's subsidiary, Bollinger Motors, has delivered the Bollinger B4 Class 4 electric vehicle to the Lower East Side Ecology Center, which will be utilized for work and delivery purposes, supporting environmental initiatives including New York City's longest-running compost program [1][2] Company Overview - Mullen Automotive, based in Southern California, is focused on building the next generation of commercial electric vehicles with two manufacturing plants located in Tunica, Mississippi, and Mishawaka, Indiana [6] - Bollinger Motors, founded in 2015 and headquartered in Oak Park, Michigan, specializes in producing all-electric commercial Class 4 chassis cab trucks and became a majority-owned subsidiary of Mullen Automotive in September 2022 [5][7] Vehicle Specifications - The Bollinger B4 features a unique Quad-Bend chassis design, a 158-kWh battery pack, a range of 185 miles, a 46-foot turning radius, and a payload capacity of 7,325 pounds, making it suitable for urban operations [3][9] - The specific vehicle delivered to the LES Ecology Center is equipped with a 16-foot Morgan Dry Box and a 2,200-pound power lift gate [3] Partnership and Sustainability - The partnership between Bollinger Motors and the Lower East Side Ecology Center emphasizes a shared commitment to sustainability, with the B4 expected to enhance the center's operational efficiency and environmental goals [2][4]

Core Insights - Mullen Automotive Inc. has signed a Partnership and Supply Agreement with Enpower Greentech Inc. to manufacture and deliver SWIFT series semi solid-state batteries (SSB) for various industrial applications [1][2][4] - The partnership aims to enhance domestic battery production, reduce supply chain vulnerabilities, and address increased costs due to tariffs [3][4] - Mullen's Fullerton Battery Center will manufacture the SWIFT SSB modules and battery packs, with production expected to ramp up in early 2026 [2][5] Company Overview - Mullen Automotive is focused on building the next generation of commercial electric vehicles (EVs) and has two manufacturing plants located in Tunica, Mississippi, and Mishawaka, Indiana [8] - The company began commercial vehicle production in August 2023, with its Mullen ONE and Mullen THREE models certified for sale in the U.S. as of January 2024 [8] - Mullen has been collaborating with EGI for the past 18 months to advance semi-solid-state battery technology [5] Technology and Production - EGI's SWIFT Series SSB Cells utilize advanced silicon-anode-based technology, offering twice the energy density and ultra-fast charging capabilities [4][7] - EGI plans to start domestic manufacturing of these batteries in late Q3 2025 at its facility in Ann Arbor, Michigan, with expansion throughout 2026 [4][5] - Mullen's Fullerton facility is equipped with three battery production lines, including those for lithium-iron-phosphate (LFP) battery modules [2][6]

Core Insights - Mullen Automotive and Bollinger source a significant portion of their vehicle components from U.S. suppliers, with 67% and 71% respectively, and their commercial vehicle inventory is 100% assembled in the USA, exempt from recent tariffs [1][2] Group 1: Company Overview - Mullen Automotive is focused on U.S.-sourced components for its commercial vehicles to ensure stable pricing and cost-effective solutions for businesses electrifying their fleets [2] - The company has two vehicle plants located in Tunica, Mississippi (120,000 square feet) and Mishawaka, Indiana (650,000 square feet) [5] - Mullen's commercial EV lineup includes the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck, both compliant with U.S. safety and environmental standards [3][5] Group 2: Bollinger Overview - Bollinger Motors, a majority-owned subsidiary of Mullen, offers the B4 chassis cab, an all-electric Class 4 commercial truck designed with fleet input, and began deliveries in October 2024 [4][6] - Bollinger has established a dealer and service network with over 50 locations across the U.S. [6]