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MULLEN AUTOMOTIVE, INC.

(MULN)
Real-time Estimate Cboe BZX  -  04:31 2022-11-29 pm EST
0.2040 USD   +5.54%
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BOLLINGER MOTORS AND WABASH ANNOUNCE JOINT DEVELOPMENT TO PRODUCE LAST-MILE REFRIGERATED DELIVERY ELECTRIC TRUCK

09/21/2022 | 09:31am EST

DETROIT, Sept. 21, 2022 /PRNewswire/ -- Bollinger Motors, which recently became a majority owned company of Mullen Automotive, Inc. (NASDAQ: MULN), announces today it has teamed up with Wabash, a leading truck body and trailer manufacturer, to develop a stronger, lighter, refrigerated truck body on electric chassis.

Bollinger Motors and Wabash Announce Joint Development to Produce a Last-Mile Refrigerated Delivery Electric Truck

Wabash has developed a lightweight composite technology, EcoNex™ Technology, for use in truck bodies and trailers that will seamlessly integrate with Bollinger's Class 4 electric chassis cab. Wabash's EcoNex Technology is made from composite material that is more durable, lighter, and more thermally efficient than other commercial products.

The companies' unique offering includes:

  • Weight savings due to Wabash's lightweight EcoNex composite technology
  • Electrification of customer fleets utilizing Bollinger's all-electric chassis cab
  • Increased total payload capacity due to lower overall truck weight
  • Breakthrough improvement in thermal efficiency compared to conventional design
  • Overall cost savings due to weight savings and thermal efficiency

"Wabash's EcoNex composite technology reduces the amount of electricity needed to maintain cold temperatures," said Mark Ehrlich, VP new business development at Wabash. "The all-electric truck we're developing with Bollinger Motors will be highly efficient with more uptime and less charging compared to conventional construction."

"I'm excited to help 'green up' the journey from farm to table," said Robert Bollinger, Founder & CEO of Bollinger Motors, who was inspired to start the company while he owned a farm in upstate New York. "We're confident Wabash's expertise in commercial transportation, combined with Bollinger's leadership in Class 4 electrification, will deliver a superior product for customers looking to reduce their carbon footprints."

On Wednesday, September 7th, 2022, Bollinger Motors become a majority owned EV truck company of Mullen Automotive, Inc. (NASDAQ: MULN).  This is Mullen's first EV acquisition and propels the Company into the medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks. Learn more about the acquisition here. Bollinger Motors is led by founder and CEO, Robert Bollinger, out of its Oak Park, Michigan headquarters.

ABOUT BOLLINGER MOTORS

Founded in 2015 by Robert Bollinger, Bollinger Motors is a U.S.-based company, headquartered in Oak Park, Michigan. Bollinger Motors will manufacture all-electric platforms and chassis cabs for commercial vehicles in Classes 4-6. www.BollingerMotors.com.

ABOUT WABASH

Wabash is a world-class manufacturer of advanced engineered solutions and services for transportation, logistics and distribution industries, with capabilities recognized for innovation, reliability and industry expertise.

http://www.onewabash.com/

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include but are not limited to whether the all-electric truck being developed by Wabash for Bollinger Motors will be successful or achieve the  efficiencies and optimal charging contemplated. Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Motors' ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Motors' ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business;

(iii) Bollinger Motors' ability to successfully expand in existing markets and enter new markets; (iv) Bollinger Motors' ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Bollinger Motors' business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Motors' business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Motors' business; (x) Bollinger Motors' ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Mullen Automotive, Inc., of which Bollinger Motors is a partially-owned subsidiary, with the Securities and Exchange Commission. Bollinger Motors anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Bollinger Motors assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Bollinger Motors' plans and expectations as of any subsequent date.

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SOURCE BOLLINGER MOTORS


ę PRNewswire 2022
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