BOLLINGER INNOVATIONS OFFERS $7,500 PRICE ADJUSTMENT ON MULLEN BRANDED CLASS 1, CLASS 3 COMMERCIAL EVs; MATCHES FEDERAL INCENTIVE

BREA, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- via IBN -- Bollinger Innovations, Inc. (NASDAQ: BINI) ("Bollinger Innovations" or the "Company"), an electric vehicle ("EV") manufacturer, today announces it is offering commercial customers additional price adjustments of $7,500 on existing inventory of the Mullen ONE and Mullen THREE electric vehicles.

The Mullen ONE, a Class 1 EV cargo van, now features an MSRP of $27,000, while the Mullen THREE, a Class 3 EV cab chassis truck, has an MSRP of $61,000. Customers can take advantage of an additional $7,500 incentive through the Inflation Reduction Act when receiving delivery prior to the program's Sept. 30 deadline, making the Mullen ONE and Mullen THREE high-value, affordable commercial EV options.

Bollinger Innovations, previously known as Mullen Automotive, changed its name and Nasdaq stock ticker symbol (NASDAQ:BINI) on July 28 as part of a company-wide consolidation to eliminate redundancy and streamline operations. The Mullen ONE and the Mullen THREE will be rebranded as Bollinger Motors vehicles in the 2026 model year.

"The combined Mullen Automotive and Bollinger Motors product line provides fleet customers with a range of affordable world-class commercial EV options," said Jim Connelly, chief revenue officer for Bollinger Innovations and Bollinger Motors. "The current price adjustment and the federal incentive make the existing Mullen ONE and Mullen THREE electric vehicles among the best values on the market today. The federal incentive will expire on Sept. 30, so customers need to act quickly as current demand is growing."

In addition to the Class 1 EV cargo van and the Class 3 EV cab chassis truck, the Bollinger Innovations product lineup includes the Bollinger B4 Class 4 commercial electric truck. The company also plans to introduce a Class 5 truck in the 2027 model year.

"The Bollinger Innovations product line includes multiple options for any organization looking to improve the sustainability of their vehicle fleets," Connelly said. "Our existing models, combined with the upcoming Bollinger B5, will help our customers meet and exceed their fleet electrification goals."

About Bollinger Innovations, Inc.

Bollinger Innovations (NASDAQ: BINI) is a Southern California-based automotive company building the next generation of commercial electric vehicles ("EVs") with a U.S. based vehicle manufacturing facility located in Tunica, Mississippi. Both the ONE, a Class 1 EV cargo van, and THREE, a Class 3 EV cab chassis truck, are available for sale in the U.S. The Company's commercial dealer network consists of seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.

Bollinger Motors, of Oak Park, Michigan, is an established EV truck company of Bollinger Innovations. Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer network with over 50 locations across the United States for sales and service support.

To learn more about the Company, visit www.BollingerEV.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 Innovations and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, how long the price adjustment will remain in effect, how long federal and state incentives will apply, and whether the reduced price or governmental incentives will result in sales. Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Innovations' ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Innovations' ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Bollinger Innovations' ability to successfully expand in existing markets and enter new markets; (iv) Bollinger Innovations' 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 Innovations' business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Innovations' business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Innovations' business; (x) Bollinger Innovations' 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 Bollinger Innovations with the Securities and Exchange Commission. Bollinger Innovations anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Bollinger Innovations 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 Innovations' plans and expectations as of any subsequent date.

Contact:

Bollinger Innovations, Inc.

+1 (714) 613-1900

www.BollingerEV.com

Corporate Communications:

IBN

Austin, Texas

www.InvestorBrandNetwork.com

512-354-7000 Office

[email protected]