Mullen Automotive has expanded its presence in the electric vehicle market on the West Coast through its subsidiary Bollinger Motors, which delivered three Bollinger B4 electric trucks to TEC Equipment locations across Washington and California. This strategic move strengthens Mullen's position in the commercial EV sector and represents a substantial revenue contribution to the company's fiscal quarter ending December 2024. The partnership with TEC Equipment as a new dealer further solidifies Mullen's distribution network and market reach in key commercial vehicle markets.
The 2025 Bollinger B4, an all-electric Class 4 chassis cab truck designed for commercial use, offers significant financial advantages through eligibility for up to $100,000 in federal and state tax incentives. This substantial financial benefit enhances the appeal of the B4 for potential commercial customers and could accelerate electric vehicle adoption in the commercial truck sector. The tax incentives, combined with the vehicle's performance and environmental benefits, position Bollinger Motors as a competitive player in the evolving EV commercial truck market.
This expansion builds upon recent production and regulatory milestones achieved by Mullen Automotive. The company operates two United States-based vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana, with the Tunica facility beginning commercial vehicle production in August 2023. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles, gaining a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. Both the Mullen ONE and Mullen THREE have received California Air Resource Board and EPA certification, making them available for sale in the United States.
The CARB-issued HVIP approval on the Mullen THREE provides an additional incentive of up to a $45,000 cash voucher at the time of vehicle purchase. These regulatory approvals and financial incentives significantly enhance the attractiveness of Mullen's EV offerings in the commercial sector. The company has been expanding its commercial dealer network, which now includes seven dealers with the recent addition of Papé Kenworth, providing comprehensive sales and service coverage across key regions including the Midwest, West Coast, Pacific Northwest, New England, and Mid-Atlantic.
Mullen's strategic initiatives extend beyond product development and distribution. The company recently announced Foreign Trade Zone status approval for its Tunica, Mississippi, commercial vehicle manufacturing center, which offers benefits including duty deferment and elimination of duties on exported vehicles. This development could improve the company's competitive position in international markets. As Mullen continues to advance in the EV commercial sector, the delivery of Bollinger B4 trucks to the West Coast represents an important step in the company's growth strategy, positioning it as a key player in the transition to electric commercial vehicles through innovation, regulatory compliance, and strategic partnerships.
