BOLLINGER MOTORS ACHIEVES CARB CERTIFICATION, A CRITICAL STEP IN BECOMING SALES-READY

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Sep 09, 2024, 09:30 ET

Certification opens the Bollinger B4 EV truck to federal and state incentive programs totaling $100,000 in potential savings

OAK PARK, Mich., Sept. 9, 2024 /PRNewswire/ -- Bollinger Motors, Inc. ("Bollinger Motors"), a commercial electric vehicle ("EV") manufacturer, today announced it achieved certification from the California Air Resources Board ("CARB") for the company's all-electric Bollinger B4 Class 4 trucks.

The CARB certification is a requirement to sell vehicles in the CARB-compliant states of California, Colorado, Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Vermont and the District of Columbia. All CARB states and locations have adopted vehicle standards under Section 177  of the Clean Air Act (42 U.S.C. §7507), which requires additional approvals beyond Environmental Protection Agency regulations.

CARB certification provides a path for Bollinger Motors' customers to qualify for additional state incentives, such as California's HVIP project ("HVIP"). When combined with the B4's $40,000 IRS rebate, HVIP can offer a rebate of up to $60,000, adding up to $100,000 in combined total savings.

Bollinger Motors will begin production of the B4 on September 16, 2024, with customer deliveries to begin in October.

"The CARB certification represents an important milestone in our mission to bring a world-class electric vehicle to market," said Bollinger Motors President and Chief Operating Officer Bryan Chambers. "Environmental requirements are critical to meeting customer expectations and providing sale-ready vehicles. With this important accomplishment, the B4 is one step closer to electrifying vehicle fleets from coast-to-coast."

The CARB certification is among a long list of Bollinger Motors' milestones in recent months including: receiving the Certificate of Conformity from the Environmental Protection Agency; providing full warranty coverage of the B4 chassis cab; a 145-vehicle sale to Momentum Group; a 70-vehicle sale to Doering Fleet Management; a 50-vehicle sale to EnviroCharge; the addition of TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group as dealers and service centers; adding Our Next Energy in Novi, Mich. to supply battery packs; teaming up with Syncron as its warranty administration partner; and adding Amerit Fleet Solutions as its mobile service provider.

To learn more about Bollinger Motors, visit www.BollingerMotors.com.

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 TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, 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 partnership with Roush Industries as a contract manufacturer; (e) Bollinger Motors' continued relationship with Syncron as its warranty administration provider; (f) Bollinger Motors' continued relationship with Amerit Fleet Solutions as its mobile service provider; and (g) Bollinger Motors' B4 Class trucks' ability to qualify for current or future state and federal incentive programs.

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.

SOURCE Bollinger Motors