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BOLLINGER MOTORS CONTINUES WESTWARD EXPANSION, ADDS AFFINITY TRUCK CENTER TO ITS RETAIL NETWORK

MULN | September 11, 2024

Storied Dealership Group Brings the All-Electric Bollinger B4 to Four Sales and Service Locations in the Central Valley of California

OAK PARK, Mich., Sept. 11, 2024 /PRNewswire/ -- Bollinger Motors, Inc. ("Bollinger Motors"), a commercial electric vehicle ("EV") manufacturer, has named Affinity Truck Center as an official Bollinger Motors dealer, with sales locations in Bakersfield, and Fresno, California, and service locations in Paso Robles, and Salinas, California. Affinity Truck Center is a California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) certified dealership.

The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. Bollinger's unique chassis design protects the 158-kwh battery pack and components to offer unparalleled capability and safety in the commercial market. The company begins serial production of the B4 on September 16, and will begin delivering vehicles to customers in October 2024.

"The addition of Affinity Truck Center gives Bollinger Motors a strong foothold in California's Central Valley," said Jim Connelly, chief revenue officer for Bollinger Motors. "Affinity has a rich history providing a variety of transportation options and is well positioned to help our team bring electrification and customer support to this critical market."

Affinity is a family-owned business founded in 1980, with headquarters in the heart of California's Central Valley. The company sells and supports a variety of leading trucking brands and provides industry leading support for sales, service and financing.

"We look forward to bringing the Bollinger B4 to our customers from our Bakersfield and Fresno locations," said Kim Mesfin, Affinity president. "We share Bollinger Motors' bold vision for creating electric vehicle options in the fleet space and are excited to help improve the valley's air quality with these electric trucks."

The addition of Affinity Truck Center follows a series of Bollinger Motors' milestones in recent months including the addition of TEC Equipment to Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group as dealers and service centers; providing full warranty coverage of the B4 chassis cab; receiving the Certificate of Conformity from the Environmental Protection Agency; a 145-vehicle sale to Momentum Group, a 70-vehicle sale to Doering Fleet Management, a 50-vehicle sale to EnviroCharge; Our Next Energy in Novi, Mich. to supply battery packs; and Amerit Fleet Solutions as its mobile service provider.

ABOUT AFFINITY TRUCK CENTER

Located in the heart of California's Central Valley, Affinity carries a wide variety of trucks to handle an array of medium and heavy-duty trucking needs. The company has served California's transportation needs since 1980 and has built longstanding relationships with local businesses and continues to serve California's Central Valley with superior equipment and services. The company's full-service dealership is backed with the promise to help businesses succeed, whether they are expanding a fleet, or just getting started.

ABOUT BOLLINGER MOTORS

Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is developing all-electric commercial chassis cab trucks, Classes 4-6. In September of 2022, Bollinger Motors became a majority-owned company of Mullen Automotive, Inc. (NASDAQ: MULN). Learn more at www.BollingerMotors.com and www.MullenUSA.com.

FORWARD-LOOKING STATEMENT

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 Motors and are difficult to predict. Examples of such risks and uncertainties include: (a) Bollinger Motors' ability to finalize a sales agreement with Doering Fleet Management, EnviroCharge, and Momentum Groups and deliver purchased vehicles on schedule; (b) Bollinger Motors' continued partnership with Nacarato Truck Centers, Nuss Truck & Equipment, Affinity Truck Center, and LaFontaine Automotive Group as dealers and service centers; (c) Bollinger Motors' continued partnership with Our Next Energy as a battery supplier; (d) Bollinger Motors' continued relationship with Syncron as its warranty administration provider; and (e) Bollinger Motors' continued relationship with Amerit Fleet Solutions as its mobile service provider.

Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Motors' ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Motors' ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Bollinger Motors' ability to successfully expand in existing markets and enter new markets; (iv) Bollinger Motors' 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 Motors' business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Motors' business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Motors' business; (x) Bollinger Motors' ability to protect its intellectual property; (xi) the vehicles developed will perform as expected and (xii) 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 Mullen Automotive, Inc., of which Bollinger Motors is a partially owned subsidiary, with the Securities and Exchange Commission. Bollinger Motors anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Bollinger Motors assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether because 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 Motors' plans and expectations as of any subsequent date.