Volt Mobility Buys 3K Mullen Vans & Trucks – Assembled in MS
Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announced today that Volt Mobility (“Volt”), based in the United Arab Emirates (“UAE”), has entered into a purchase agreement for approximately $210 million to acquire 3,000 Class 1 and Class 3 EV cargo vans and trucks over a 16-month period. Mullen will receive an initial $3 million deposit within 60 days and additional payments as the vehicles are delivered. The Company will begin shipping the first vehicles immediately.
Mullen expects to recognize approximately $210 million in revenue over the next 16 months of the agreement. Volt intends to lease these vehicles to its corporate customers based in the Middle East and Gulf States. Current Volt clients include UPS, DHL and FedEx throughout the Gulf Cooperation Council (“GCC”) region, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).
Volt’s vehicle order will be assembled at Mullen’s Tunica, Mississippi-based Commercial Vehicle Facility, which is capable of producing 20,000 Class 1 and 6,000 Class 3 vehicles annually with two production shifts.
Founded in 2020, Volt quickly established itself as one of the largest and most influential commercial EV leasing companies in the region. Volt’s vehicle portfolio includes 17 models with focus on light, medium and heavy-duty electric vehicles. Volt leases vehicles to corporate customers providing first to last-mile delivery for fast moving goods and provides heavy duty trucks for shuttling service across the region, serving clients including large transport businesses under a long-term secured leasing model
The UAE has identified e-mobility as a priority policy area and is now seven years into an ambitious plan to decarbonize its infrastructure and energy production. The Emirate’s Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100% power from clean energy sources by 2050. Furthermore, Dubai’s Roads and Transport Authority (“RTA”) has rolled out a long-term strategy to migrate towards net-zero emission public transport by 2050.
“At Volt, we don’t just follow trends; we set them. Our mission is clear: lead the transformation to sustainable, efficient and cutting-edge transportation,” said Sophia Nau, managing director and CFO for Volt Mobility.
“Volt is reshaping the way people and businesses move across the UAE and GCC,” said David Michery, CEO and chairman of Mullen Automotive. “This landmark agreement provides Mullen with exposure to leading global transportation companies and the opportunity for utilizing Mullen EVs across the UAE and other areas of the Middle East.”
Additional details, including the related agreement, can be found in the Company’s Form 8-K to be filed with the SEC.
Mullen’s commercial EV lineup includes the Mullen ONE Class 1 EV cargo van, the Mullen THREE Class 3 EV cab chassis truck, and the Bollinger B4 Class 4 and Bollinger B5 Class 5 EV cab chassis trucks from its subsidiary, Bollinger Motors. Mullen’s full lineup of commercial EVs is purpose-built to meet the demands of urban last-mile delivery; available for sale and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency and the California Air Resources Board (“CARB”) certifications, denoting strict adherence to clean air emissions standards. The Bollinger B4 begins Start of Production (“SOP”) on Sept. 16, 2024, with deliveries beginning in October 2024.
Bollinger Motors Starts Production of B4 Chassis Cabs
Bollinger Motors, Inc., an electric commercial vehicle (“EV”) manufacturer, announced it will begin production of saleable units of the Bollinger B4 Chassis Cab on Sept. 16, 2024. The announcement was made by company President and Chief Operating Officer Bryan Chambers and Chief Revenue Officer Jim Connelly.
The Bollinger B4 Chassis Cab, an all-new Class 4 commercial truck, was designed from the ground up with extensive fleet and upfitter input. Bollinger Motors’ unique, purpose-built EV chassis design encloses and protects the 158-kwh battery pack and components to offer unparalleled capability and safety in the commercial market.
Bollinger Motors is partnering on production with Roush Industries, which provides contract manufacturing services from its facility in Livonia, Mich. The partnership leverages Roush’s deep production and e-mobility expertise, honed over 50 years of innovative engineering, testing, prototyping, and manufacturing services – as well as its work in producing the Bollinger B4 development validation vehicles in 2023.
“This is an exciting time in Bollinger Motors’ history, as it takes a monumental team effort to go from true start-up to production in the timeframe we have achieved,” Chambers said. “The Bollinger Motors team, Roush Industries and our entire supply chain network has worked tirelessly to make the B4 a reality and I am very proud of everyone’s effort.”
“We are experiencing strong momentum in the market, having secured multiple sales orders from important customers throughout the country,” Connelly said. “We are extremely confident that we are bringing them a truck that will reward their trust and help transform their business. We cannot wait to get the B4 on the road, electrifying America’s fleets.”
The production date announcement comes on the heels of several other important Bollinger Motors milestones including providing a full warranty coverage of the B4 Chassis Cab; receiving the Certificate of Conformity from the Environmental Protection Agency; a 70-vehicle sale to Doering Fleet Management, an 80-vehicle sale to Momentum Group; a 50-vehicle sale to EnviroCharge; the addition of 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; Syncron as its warranty administration partner; and Amerit Fleet Solutions as its mobile service provider.
In addition, Bollinger Motors recently qualified for federal clean vehicle tax credits under the Inflation Reduction Act of $40,000 per vehicle for the B4 chassis cab.
TEC Equipment Official Bollinger Dealer
– Bollinger Motors, Inc., an electric commercial vehicle (“EV”) manufacturer, has named TEC Equipment, Inc. as an official Bollinger Motors dealer. The addition of sales and service provided by select TEC Equipment locations expands Bollinger Motors commercial sales and service network westward, with the following participating TEC Equipment locations:
Sales & service Locations:
Bollinger B4 Chassis Cab
- California: San Diego, Fontana, Oakland
- Oregon: Portland
- Washington: Seattle
Additional service locations:
- Arizona: Phoenix
- California: La Mirada, Dixon, Lathrop, San Francisco
- Iowa: Sioux City
- Nebraska: Omaha
- Nevada: Las Vegas, Reno
- Oregon: Medford, Eugene, Redmond, Wilsonville
- South Dakota: Sioux Falls
- Washington: Lacey
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. The company anticipates deliveries of the Bollinger B4 to begin in October 2024.
“The addition of TEC Equipment expands Bollinger Motors national dealer network westward and gives us a solid foundation in several important markets,” said Jim Connelly, Chief Revenue Officer for Bollinger Motors. “TEC is an industry leader in sales and service and provides a critical link to our commitment to electrification and customer support.”
TEC Equipment is a family-owned, full-service truck and trailer dealership founded in 1976. The company is headquartered in Portland, Ore., and has more than 30 locations across eight states. As a full-service dealership, TEC offers truck and trailer sales, parts, service, leasing, rental, insurance, financing, towing and recovery equipment, auto transportation equipment and services, and ZEV consulting.
“We are proud to join the Bollinger Motors network and bring this game-changing electric truck to our customers across the West Coast,” said Chris Thompson, TEC Equipment’s Vice President of Truck Sales. “We have always prided ourselves in innovation and Bollinger Motors has developed a world-class truck.”
Bollinger Motors has reached several milestones in recent months, including: announcing production of the Bollinger B4 Chassis Cab; receiving the Certificate of Conformity from the Environmental Protection Agency; an 145-vehicle sale to Momentum Groups; a 50-vehicle sale to EnviroCharge; a five-vehicle sale to Spencer Manufacturing; the addition of Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Auto Group as dealers and service centers; Our Next Energy in Novi, Mich. to supply battery packs; Roush Industries in Livonia, Mich. to manage vehicle assembly operations; 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.