Mullen Automotive Rebrands to Bollinger Innovations, Signaling Strategic Shift to Commercial EVs

Mullen Automotive Inc. (NASDAQ: MULN) has announced a significant rebranding to Bollinger Innovations, Inc., with the NASDAQ stock exchange approving the new ticker symbol BINI. This change underscores the company's strategic shift towards its commercial electric vehicle (EV) lineup, including the Mullen ONE, Mullen THREE, and the newly introduced Bollinger B4, a Class 4 electric truck boasting a 185-mile range and a 7,325-pound payload capacity. The exact date for the name and symbol transition remains to be disclosed.

The rebranding extends to the company's Oceanside, California, Commercial Vehicle Center, which will now operate under the Bollinger Innovations name. This move reflects the company's intensified focus on advancing commercial EV technology. All vehicles in the lineup have achieved federal certification and comply with the California Air Resource Board (CARB) standards, meeting rigorous environmental and safety requirements.

Mullen Automotive has achieved notable milestones in the EV industry, including the start of commercial vehicle production in Tunica, Mississippi, and securing IRS approval for federal EV tax credits. The CARB-issued HVIP approval for the Mullen THREE, a Class 3 EV truck, provides eligible buyers with up to a $45,000 cash voucher at purchase, making the vehicle more accessible and attractive.

The company's expansion of its commercial dealer network to seven dealers, including Papé Kenworth, and the Foreign Trade Zone (FTZ) status approval for its Tunica manufacturing center, further cement its standing in the commercial EV market. These advancements demonstrate Mullen Automotive's, soon to be Bollinger Innovations, commitment to driving innovation and promoting sustainability within the automotive sector.