Mullen Automotive Transitions to Bollinger Innovations with NASDAQ Approval, Focusing on Commercial EV Expansion

Mullen Automotive Inc. has announced its transition to Bollinger Innovations, Inc., with the NASDAQ stock exchange approving the new ticker symbol BINI. This rebranding reflects the company's strategic focus on its commercial electric vehicle lineup, including the Mullen ONE, Mullen THREE, and the newly designed Bollinger B4, a Class 4 electric truck with a 185-mile range and 7,325-pound payload capacity. The effective date for the name and symbol change is yet to be announced. The company's Oceanside, California, Commercial Vehicle Center will now operate under the Bollinger Innovations name, underscoring its commitment to advancing commercial EV technology. All vehicles in Mullen's lineup are federally certified and compliant with the California Air Resource Board standards, ensuring they meet stringent environmental and safety regulations.

Mullen Automotive has made significant strides in the EV sector, including the commencement of commercial vehicle production in Tunica, Mississippi, and receiving IRS approval for federal EV tax credits. The CARB-issued HVIP approval for the Mullen THREE, Class 3 EV truck, offers eligible customers up to a $45,000 cash voucher at the time of purchase, enhancing the vehicle's affordability and appeal. The expansion of Mullen's commercial dealer network to seven dealers, including Papé Kenworth, and the Foreign Trade Zone status approval for its Tunica manufacturing center, further solidify the company's position in the commercial EV market. These developments highlight Mullen Automotive's, soon to be Bollinger Innovations, dedication to innovation and sustainability in the automotive industry.

The transition to Bollinger Innovations represents a pivotal moment for the company as it aligns its brand identity with its core commercial EV products. The Bollinger B4, with its substantial payload capacity and range, targets the growing demand for efficient commercial transportation solutions. Federal certifications and compliance with CARB standards not only validate the vehicles' performance but also open access to incentives and markets, particularly in environmentally conscious regions like California. The IRS approval for tax credits and CARB's HVIP vouchers directly reduce ownership costs, making these EVs more competitive against traditional fuel-powered trucks.

Operational advancements, such as the FTZ status for the Tunica center, streamline manufacturing and logistics, potentially lowering costs and improving supply chain efficiency. The expanded dealer network, including partnerships with established names like Papé Kenworth, enhances market reach and customer support, crucial for scaling commercial sales. This rebranding and strategic focus matter because they position the company to capitalize on the accelerating shift toward electric commercial fleets, driven by regulatory pressures and economic incentives. The implications include increased market visibility, potential growth in commercial EV adoption, and strengthened competitiveness in a sector where innovation and sustainability are increasingly prioritized by businesses and policymakers alike.