BOLLINGER MOTORS DELIVERS FIRST FIVE CUSTOMER-READY ALL-ELECTRIC TRUCKS TO NACARATO TRUCK CENTERS

First Bollinger B4 delivery includes nearly $800,000 in sales value

Revenue from these vehicles to be recognized in current quarter financials

LAVERGNE, Tenn., Oct. 3, 2024 /PRNewswire/ -- Bollinger Motors, Inc. ("Bollinger Motors"), a commercial electric vehicle ("EV") manufacturer, announced today the first customer delivery of its 2025 Bollinger B4 Chassis Cab. Bollinger Motors delivered five Bollinger B4s to Nacarato Truck Centers LaVergne, Tennessee facility – generating revenue for the OEM based off a sales value of nearly $800,000.

Nacarato Truck Centers will sell four vehicles to commercial fleet customers and will use one vehicle for its own internal parts deliveries between its 13 locations throughout the East, Southeast and Midwest.

"This is another special day for Bollinger Motors as we continue our journey to become an electrification leader in the commercial fleet market," said Jim Connelly, chief revenue officer for Bollinger Motors. "Our nationwide dealership network is one of our core strengths and with partners like Nacarato Truck Centers, our customers' sales and service needs are in good hands. We are excited to see the B4 going to work on the streets of the Nashville area, and across the country."

The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. Bollinger's unique chassis design protects the 158-kwh battery pack and components to offer unparalleled capability and safety in the commercial market.

"Nacarato Truck Centers is thrilled to be the first dealership in the nation to receive Bollinger B4 all-electric trucks," said Sawyer Sparks, Bollinger Sales and Brand Manager for Nacarato Trucks. "This is a monumental moment not just for our company, but for the advancement of Tennessee clean fuels, as well."

The 2025 Bollinger B4 Chassis Cab will have a Manufacturers Suggested Retail Price (MSRP) of $158,758. In addition, Bollinger Motors qualified for federal clean vehicle tax credits under the Inflation Reduction Act of $40,000 per vehicle for the B4 chassis cab.

Bollinger Motors has passed numerous milestones in the past several months including its production launch on Sept. 16, CARB certification, FMVSS compliance, receiving the Certificate of Conformity from the Environmental Protection Agency: 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; Our Next Energy in Novi, Mich. to supply battery packs; providing a full warranty coverage of the B4 chassis cab; Syncron as its warranty administration partner; and Amerit Fleet Solutions as its mobile service provider.

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.  

About Nacarato Truck Centers:

 Nacarato Truck Centers is a group of authorized Volvo Truck, TICO Terminal Tractor, Autocar, Dorsey, Strick, and used semi-truck dealerships and Service Centers serving the Tennessee, Virginia, Southern Kentucky, Maryland, Illinois, Florida and Georgia areas with 48 years in the trucking industry. Starting from a single dealership in Nashville, we have expanded to 13 rooftops with the same moral principles that the dealership was founded on.  In January 2024, Nacarato was acquired by Vanguard Truck Centers, who is based in Atlanta, GA.  With the combination of Vanguard's 29 rooftops and Nacarato's 13 rooftops, we are poised to service all of our customers across multiple markets throughout the Southwest, South, Southeast and Mid-Atlantic territories is the U.S.  For more information, visit www.nacaratotruckcenters.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 Affinity Truck Center, Nacarato Truck Centers, TEC Equipment, 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; (g) Nacarato Truck Centers' usage of Bolinger Motors B4s for sale or internal parts deliveries; and (h) Bollinger Motors reserves the right to edit the MSRP of the B4 at any time, as necessary.

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.

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