Mullen Automotive (NASDAQ: MULN), an emerging manufacturer in the electric vehicle (EV) sector, has announced a significant expansion of its subsidiary Bollinger Motors' commercial EV dealer network. The expansion involves the addition of TEC Equipment, Inc., a family-owned, full-service truck and trailer dealership. This partnership introduces 20 new sales and service locations across key markets in the Western United States.
The new locations span several states, including Arizona (Phoenix), California (Dixon, Fontana, La Mirada, Lathrop, Oakland, San Diego, and San Francisco), Iowa (Sioux City), Nebraska (Omaha), Nevada (Las Vegas and Reno), Oregon (Eugene, Medford, Portland, Redmond, and Wilsonville), South Dakota (Sioux Falls), and Washington (Lacey and Seattle).
Jim Connelly, Chief Revenue Officer for Bollinger Motors, emphasized the strategic 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. TEC is an industry leader in sales and service and provides a critical link to our commitment to electrification and customer support."
This development is crucial for several reasons. Firstly, it strengthens Bollinger Motors' presence in the Western United States, a region that is pivotal for the adoption of commercial electric vehicles. Secondly, TEC Equipment's established reputation and extensive service capabilities offer Bollinger Motors a robust platform to enhance customer support and satisfaction. This move aligns with Mullen Automotive's broader strategy to accelerate the transition to electric vehicles and underscores its commitment to sustainability.
Mullen Automotive, based in Southern California, is actively building the next generation of commercial EVs. The company operates two U.S.-based vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana. In August 2023, Mullen began commercial vehicle production in Tunica. Additionally, in September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles, offering eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (CARB) and EPA certified and available for sale in the U.S.
This expansion of the dealer network is anticipated to bolster the commercial EV market by making it easier for businesses to access and maintain electric vehicles. It also represents a step forward in reducing carbon footprints and promoting sustainable transportation solutions across various industries.
