Bollinger Motors Secures Major Sale of Electric Vehicles
Sales invoiced at $1,074,035; Company in receipt of full payment from DB Schenker and expects to receive full payment from Ziegler and Range on or before designated date
Vehicles include 20 Class 1 urban delivery EV cargo vans, six Class 3 urban utility EV trucks, and four Class 4 all-electric Bollinger B4 trucks
Bollinger Innovations, Inc. (NASDAQ: BINI) has announced an exciting development as its subsidiary, Bollinger Motors, concludes a sale of 30 commercial electric vehicles (EVs) valued at $1,074,035. The buyers include the Ziegler Truck Group, Range Truck Group, DB Schenker, and Larsen Enterprises, marking a significant milestone for the company.
This fleet consists of a diverse array of vehicles, notably featuring 20 Class 1 urban delivery EV cargo vans, six Class 3 urban utility EV trucks, and four Class 4 all-electric Bollinger B4 trucks, all designed to meet the growing demand for efficient and sustainable transportation in urban settings.
Swift Transaction and Future Expectations
The Company has successfully received full payment from DB Schenker and anticipates receiving the remaining payments from its partners, Ziegler and Range Truck Groups. These funds are expected to arrive on or before the designated date, further contributing to the company’s financial stability and operational growth.
"Bollinger Motors continues to deliver vehicles at an increased rate, with shipments occurring now through the upcoming quarter. The demand for our EV product lineup keeps rising as more customers experience our vehicles on the road,” shares Jim Connelly, Chief Revenue Officer of Bollinger Innovations.
Restructuring Efforts Yield Positive Results
Enhancements within the Company's sales department have demonstrated remarkable results in a brief timeframe. David Michery, CEO and chairman of Bollinger Innovations, highlights the efficiency and cost-effectiveness achieved by the revamped sales team. "I am pleased with the direction and performance of the new team," he states proudly.
Overview of Bollinger's Electric Vehicle Lineup
Bollinger Innovations prides itself on its innovative lineup, which includes not only the Class 1 urban delivery EV cargo van but also the Class 3 urban utility EV chassis and the Bollinger B4 chassis cab. This all-electric Class 4 commercial truck is engineered for versatility, ideal for various urban operations, and is designed with significant input from fleet and upfitter stakeholders.
The vehicles are certified and available for sale across the United States, reinforcing Bollinger’s commitment to providing sustainable solutions for commercial transportation needs.
About Bollinger Innovations, Inc.
Bollinger Innovations, based in Southern California, is committed to manufacturing the next generation of commercial electric vehicles. Its facilities, located in Tunica, Mississippi, exemplify the Company’s dedication to U.S.-based manufacturing. Currently, both the Class 1 EV cargo van and Class 3 EV cab chassis truck are actively available for sale.
The company supports its commercial dealer network of six dealers, which includes key players such as Ziegler Truck Group and Range Truck Group. This network ensures sales and service coverage across critical markets including the West Coast, Midwest, and Mid-Atlantic regions.
Growth and Future Plans
Bollinger Motors, renowned for its innovative electric trucks, has made impressive strides including the production launch of its B4 Class 4 electric truck. The company operates over 50 established dealer locations across the United States for enhancing sales and service support.
As electric vehicle demand continues to escalate, Bollinger is poised to play a significant role in shaping the EV landscape, providing businesses with cutting-edge solutions tailored for modern urban environments.
Frequently Asked Questions
1. What types of vehicles are included in the 30 unit sale?
The sale includes 20 Class 1 urban delivery EV cargo vans, six Class 3 urban utility EV trucks, and four Class 4 all-electric Bollinger B4 trucks.
2. What financial value is associated with the sale?
The total invoiced amount for the sale is $1,074,035.
3. Who are the buyers involved in this transaction?
The buyers are Ziegler Truck Group, Range Truck Group, DB Schenker, and Larsen Enterprises.
4. When is the expected payment from Ziegler and Range due?
The Company expects to receive the full payment from Ziegler and Range Truck Groups on or before a designated date.
5. What is the significance of this sale for Bollinger Innovations?
This sale represents a key achievement for Bollinger Innovations, further establishing its presence in the electric vehicle market and showcasing its commitment to sustainable transportation solutions.
