Mullen's Subsidiary Bollinger Motors Expands Dealer Network with TEC Equipment Partnership

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (EV) manufacturer, has announced a significant expansion of its commercial EV dealer network through its subsidiary, Bollinger Motors. The company has partnered with TEC Equipment, Inc., adding 20 select sales and service locations across key markets in the Western United States.

This strategic move broadens Bollinger Motors' reach into several important markets, including major cities in Arizona, California, Iowa, Nebraska, Nevada, Oregon, South Dakota, and Washington. TEC Equipment, a family-owned, full-service truck and trailer dealership established in 1976, brings decades of industry experience to the partnership.

Jim Connelly, chief revenue officer for Bollinger Motors, emphasized the importance of this expansion, stating, "The addition of TEC Equipment expands Bollinger Motors' national dealer network westward and gives us a solid foundation in several important markets." He further highlighted TEC's reputation as an industry leader in sales and service, noting that the partnership "provides a critical link to our commitment to electrification and customer support."

This expansion comes at a crucial time for Mullen Automotive, which has recently made significant strides in the EV market. In August 2023, the company began commercial vehicle production at its Tunica, Mississippi plant. Following this, in September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles, securing a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle.

As of January 2024, two of Mullen's commercial EV models - the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck - have received both California Air Resource Board (CARB) and EPA certification, making them available for sale in the United States. These developments, coupled with the expansion of the dealer network, position Mullen Automotive to capitalize on the growing demand for commercial EVs.

The partnership with TEC Equipment is particularly significant given the current push for electrification in the commercial vehicle sector. As businesses and governments increasingly focus on reducing carbon emissions, the availability of a robust sales and service network for commercial EVs becomes crucial. This expansion enhances Bollinger Motors' ability to meet this demand and provide comprehensive support to customers across a wider geographical area.

For potential customers and investors, this expansion signals Mullen's commitment to growth and its ability to establish a strong presence in the commercial EV market. The addition of TEC Equipment's experienced network to Bollinger Motors' existing infrastructure could potentially accelerate the adoption of Mullen's electric commercial vehicles in key Western markets.

As the EV industry continues to evolve, partnerships like this one between Bollinger Motors and TEC Equipment may play a crucial role in shaping the future of commercial transportation. By expanding its dealer network, Mullen Automotive is not only increasing its market reach but also contributing to the broader transition towards sustainable transportation solutions in the commercial sector.

For more information about Mullen Automotive and its commercial EV offerings, interested parties can visit www.MullenUSA.com.