Mullen's FIVE and Bollinger B4 models no longer for sale - Cost reductions announced
Mullen Automotive, an electric vehicle manufacturer, and Bollinger Motors, an innovative electric truck company, are making significant strides in the commercial vehicle sector.
Mullen Automotive's Financial Performance
Mullen Automotive has reported impressive revenue growth, with a substantial increase from $65,235 in Q2 2024 to approximately $4.5 million in Q3 2024, representing a staggering 6791% growth [1]. However, the company has faced ongoing challenges, with significant net losses and cash utilization [2][5]. Mullen Automotive is making efforts to improve its financial situation by reducing costs and improving cash flow, aiming to achieve breakeven on a cash basis by the end of 2025 [1].
Bollinger Motors' Innovative Electric Truck
Bollinger Motors has introduced the Bollinger B4 Chassis Cab, an all-new, all-electric Class 4 commercial truck. This vehicle has been designed with extensive fleet and upfitter input, offering unparalleled capability and safety in the commercial market [6]. Bollinger's unique chassis design protects the 158-kwh battery pack and components, ensuring durability and safety [7].
The B4 Chassis Cab qualifies for federal clean vehicle tax credits of $40,000 per vehicle under the Inflation Reduction Act [8]. Nacarato Truck Centers has become the first dealership in the nation to receive Bollinger B4 all-electric trucks, with plans to sell four to commercial fleet customers and use one for internal deliveries [9].
Collaborations and Partnerships
Mullen Automotive has conducted over 80 vehicle demos or pilots across various industries in the U.S., resulting in significant progress and new sales opportunities [10]. Bollinger Motors has completed all necessary engineering and testing to pass compliance regulations, including EPA and CARB approvals, and obtained sales approval in all U.S. states [11].
Bollinger Motors is partnering with Roush Industries for the production of the B4 electric truck in Michigan [12]. Volt Mobility has placed an order for $210M with Mullen, with plans to deliver 300 vehicles this calendar year and 3,000 in 2025 [13]. Mullen Automotive is also expanding its international reach, with established retailers and orders in Eastern Europe and the Middle East [14].
Universities such as Princeton University, University of Virginia (UVA), and University of California, Los Angeles (UCLA) have shown interest in Mullen Automotive's vehicles [15]. The Manufacturers Suggested Retail Price (MSRP) for the 2025 Bollinger B4 Chassis Cab is $158,758 [16].
Production of the first customer-ready Bollinger B4 electric trucks began on September 20, 2024 [17]. Sawyer Sparks, Bollinger Sales and Brand Manager for Nacarato Trucks, stated that this is a monumental moment not just for their company, but for the advancement of Tennessee clean fuels [9].
Over the next six months, Mullen Automotive expects to generate an average of $12.5 million per month in revenue [18]. On September 20, 2024, Bollinger Motors delivered five Bollinger B4s to Nacarato Truck Centers, generating revenue of nearly $800,000 [19].
[1] - Mullen Automotive Q3 2024 Earnings Report [2] - Mullen Automotive Q1 2025 Earnings Report [3] - Mullen Automotive Q2 2025 Earnings Report [4] - Mullen Automotive Press Release, FTZ Application [5] - Mullen Automotive Q3 2025 Earnings Report [6] - Bollinger Motors Press Release, B4 Chassis Cab [7] - Bollinger Motors Press Release, B4 Chassis Cab Design [8] - Bollinger Motors Press Release, Federal Tax Credit Qualification [9] - Bollinger Motors Press Release, Nacarato Truck Centers Partnership [10] - Mullen Automotive Press Release, Vehicle Demos and Pilots [11] - Bollinger Motors Press Release, Compliance Regulation Approval [12] - Bollinger Motors Press Release, Roush Industries Partnership [13] - Mullen Automotive Press Release, Volt Mobility Order [14] - Mullen Automotive Press Release, International Expansion [15] - Mullen Automotive Press Release, University Interest [16] - Bollinger Motors Press Release, 2025 B4 Chassis Cab MSRP [17] - Bollinger Motors Press Release, First Customer-Ready Trucks Produced [18] - Mullen Automotive Press Release, Revenue Expectations [19] - Bollinger Motors Press Release, B4 Delivery to Nacarato Truck Centers
Mullen Automotive, despite its financial challenges, is exploring opportunities in the sports industry, aiming to introduce electric vehicles for university transportation, as Princeton University, University of Virginia, and University of California, Los Angeles have shown interest in their vehicles.
Bollinger Motors' innovative electric truck, the B4 Chassis Cab, designed with fleet management input, has qualified for federal clean vehicle tax credits of $40,000 per vehicle, making it an attractive option for commercial fleets.
