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Bollinger Innovations Takes Further Cost Cutting Actions Resulting in Reducing Its Quarterly Cash Burn from $21.2M to $8.9M; a 58% Quarterly Decrease
Globenewswire· 2025-09-15 12:45
Core Insights - Bollinger Innovations, Inc. has successfully reduced its quarterly cash burn from $21.2 million to $8.9 million, achieving a 58% decrease while maintaining its marketing, sales, and manufacturing capabilities [1][2] Financial Performance - The company has focused on cost-cutting measures that do not compromise its operational capabilities, resulting in significant savings [1][2] Product Line and Market Position - Bollinger Innovations offers a commercial EV lineup that includes the Class 1 urban delivery EV cargo van and the Class 3 urban utility EV cab chassis truck, designed for urban last-mile delivery [3] - The Bollinger B4 Chassis Cab is an all-electric Class 4 commercial truck developed with input from fleet operators and upfitters [3] Compliance and Certifications - All vehicles produced by Bollinger Innovations comply with U.S. Federal Motor Vehicle Safety Standards, EPA regulations, and CARB certifications, ensuring adherence to clean air emissions standards [4] Company Overview - Bollinger Innovations is based in Southern California and operates a manufacturing facility in Tunica, Mississippi, focusing on the next generation of commercial electric vehicles [5] - The company has established a commercial dealer network with six dealers across key markets in the U.S. [5] - Bollinger Motors, a subsidiary of Bollinger Innovations, has launched the production of its Class 4 electric truck and developed a dealer network with over 50 locations for sales and service support [5]
Bollinger Motors Announces 30 Unit Vehicle Sale to Ziegler and Range Truck Groups, DB Schenker and Larsen Enterprises
Globenewswire· 2025-09-04 13:10
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]