Shares of Mullen Automotive (MULN) are on the rise today, propelled by the exciting news of Bollinger Motors’ first West Coast customer deliveries. This marks a significant milestone for the company, showcasing its commitment to expanding its reach and catering to the growing demand for electric commercial vehicles in a key region of the United States.
Bollinger Motors, a subsidiary of Mullen Automotive, delivered three 2025 Bollinger B4 Chassis Cabs to TEC Equipment dealerships in Lacey, Washington; Fontana, California; and Oakland, California. The Bollinger B4 Chassis Cab is a fully electric, Class 4 commercial truck, designed with input from fleet operators and upfitters, ensuring it meets the specific needs of various industries.
The revenue generated from these vehicle deliveries will be reflected in Mullen’s fiscal quarter ending December 2024, potentially boosting the company’s financial performance. Furthermore, the 2025 Bollinger B4 chassis cab is eligible for federal clean vehicle tax credits of $40,000 per vehicle under the Inflation Reduction Act, further incentivizing its adoption. With additional state incentives, potential savings for buyers could exceed $100,000.
Jim Connelly, chief revenue officer for Bollinger Motors, emphasized the importance of the West Coast market for the success of electric vehicles. He stated, “The West Coast represents a critical region of the country for electric vehicle success, and today’s deliveries to TEC Equipment are significant steps forward for Bollinger Motors.”
This news comes on the heels of a $10 million debt financing provided by Bollinger Motors founder Robert Bollinger to support production and sales of the B4 electric truck. Earlier this month, the company announced its ambitious goal of reaching $75 million in GAAP revenue through commercial and Bollinger Motors sales, aiming for a $12.5 million monthly average.
This positive momentum in Bollinger Motors’ expansion and Mullen’s strategic focus on commercial vehicle sales are fueling investor optimism, resulting in a 3.96% increase in MULN shares to $2.402 at the last check Wednesday. The company’s commitment to innovation and its focus on addressing the growing demand for sustainable transportation solutions appear to be driving its success and attracting investors.
