Press Release Summary
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Bollinger Motors Partners with Broadway Ford Truck Center
LOS ANGELES – (NewMediaWire) – December 11, 2024 – Mullen Automotive (NASDAQ: MULN) has declared that its subsidiary, Bollinger Motors, has forged a partnership with Broadway Ford Truck Center, located in St. Louis, making them an official dealer and strengthening Bollinger’s presence in the Midwest. The all-electric Class 4 B4 Chassis Cab truck by Bollinger, which boasts a 158-kilowatt-hour battery and is designed for fleet operations, commenced deliveries in October. Dennis Phillips, President of Broadway Ford Truck Center, underscored the shared dedication of both companies to sustainable practices and innovation in commercial vehicles.
Recent Achievements of Bollinger Motors
Bollinger Motors has recently reached several significant milestones, including compliance with regulations, securing essential vehicle contracts, and establishing collaborations with various dealers and service organizations.
About Mullen Automotive Inc.
Mullen Automotive is based in Southern California and is focused on manufacturing the next generation of commercial electric vehicles (EVs). The company operates two manufacturing facilities in the U.S.: a 120,000 square-foot plant in Tunica, Mississippi, and a 650,000 square-foot facility in Mishawaka, Indiana. Mullen initiated production of commercial vehicles in Tunica in August 2023 and received IRS approval for federal EV tax credits in September 2023, which can provide eligible customers with up to $7,500 per vehicle. Starting January 2024, they will offer the California Air Resource Board (CARB) and EPA certified Mullen ONE Class 1 cargo van and Mullen THREE Class 3 cab chassis truck in the U.S. market.
Expanded Dealer Network
The Mullen THREE Class 3 EV truck has also received CARB’s HVIP approval, providing buyers with a cash voucher of up to $45,000 at the time of purchase. Mullen has recently broadened its commercial dealer network to seven, including Pap Kenworth, alongside other dealers such as Pritchard EV and National Auto Fleet Group, ensuring sales and service coverage in key regions across the Midwest, West Coast, Pacific Northwest, New England, and Mid-Atlantic. Additionally, the company secured Foreign Trade Zone (FTZ) status for its Mississippi manufacturing site, offering benefits like duty deferment and elimination on exported vehicles.
Forward-Looking Statements
This article contains forward-looking statements as outlined in the Private Securities Litigation Reform Act of 1995. These statements entail risks, uncertainties, and factors that could lead to actual outcomes diverging from the predictions made here, and they should not be solely relied upon for investment decisions. Various elements beyond management control may affect these statements, as elaborated in the company’s Annual Report on Form 10-K and other SEC filings.
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