Bollinger Innovations Inc. (NASDAQ: BINI) Drives Commercial EV Leadership with Bold Rebrand, Market Clarity

• Mullen Automotive recently brought all of its EV products and brands together under one strong and unified identity — Bollinger Innovations.
• The pivot to one commercial EV brand comes amid mounting demand for electrification in delivery, logistics and municipal vehicle fleets.
• The company’s new identity is also trading under new Nasdaq stock symbol NASDAQ: BINI.
• The company’s move under one brand clarifies market positioning, creating cohesion across product lines ready to service the commercial vehicle industry.

Bollinger Innovations (NASDAQ: BINI), formerly known as Mullen Automotive, has completed a major corporate transformation, officially rebranding and switching its NASDAQ ticker from MULN to BINI (https://ibn.fm/2bEWf). The updated identity aligns the company’s commercial electric vehicle (“EV”) offerings, including its Class 1 cargo van and Class 3 and 4 cab chassis trucks, under the unified Bollinger brand and emphasizes its commitment to serving the U.S. commercial mobility market with domestically manufactured EVs.

Bollinger Innovations is building the next-generation commercial EVs in Tunica, Mississippi, offering California Air Resources Board (“CARB”) and EPA certified models: the Urban Delivery ONE EV cargo van (Class 1), the Urban Utility THREE EV cab chassis truck (Class 3) and the Bollinger B4 all-electric cab chassis truck (Class 4). These commercial EVs are available for purchase throughout the United States.

“Our transition to Bollinger Innovation goes beyond a simple name change,” said CEO and chairman David Michery. “We are bringing our products and brands together under one strong and unified identity, ready to service the commercial vehicle industry.”

The pivot toward commercial EVs comes amid mounting demand for electrification in delivery, logistics and municipal vehicle fleets. While passenger EV sales rose sharply, with global electric car sales expected to exceed 20 million units in 2025 and more than 20% market share (https://ibn.fm/XqmoM), commercial EV adoption remains nascent, accounting for an estimated 2% of U.S. commercial vehicle sales as of 2023 (https://ibn.fm/MynoT). Industry sources estimate that commercial fleets contribute disproportionately to urban emissions, and electrification is seen as essential to meeting decarbonization targets.

U.S. automakers are accelerating domestic EV production: In Detroit, GM recently pledged $4 billion toward U.S. manufacturing expansion through 2027, including EV assembly at Factory ZERO and new battery facilities (https://ibn.fm/aKKeb). The United States remains a net importer of electric cars and trucks, highlighting both vulnerability and opportunity in domestic supply chain reshoring (https://ibn.fm/3tJe8). With this in mind, Bollinger Innovations’ control over its commercial EVs, certification and U.S.-based production positions it to compete directly in strategic fleet electrification initiatives.

The company’s new identity consolidates all commercial vehicle lines under one brand, clarifying market positioning and creating operational cohesion across product lines. Though stockholders were not required to take any action, the rebranding signals an important turning point, from a broader EV vision under Mullen to a focused execution on Class 1, 3 and 4 commercial platforms built in America. Bollinger’s models are positioned for use by last mile delivery firms, municipal fleets and specialist vocational upfitters, aligning with increasing standards for zero-emission vehicles in cities and states.

Commercial EV sales in the United States are forecast to scale rapidly, driven by policy mandates, corporate ESG targets and rising consumer expectation, which creates a significant addressable market for Bollinger. While commercial EVs remain just over 2% of the U.S. market currently, they are expected to grow sharply in coming years to reach parity with passenger EV expansion trends (Rabobank). For Bollinger, with vehicles already CARB and EPA certified and ready for deployment, the potential opportunity in fleet electrification is immediate and backed by American-made manufacturing that could qualify for incentives under IRA domestic content rules.

The rebrand also follows a complex corporate history. Mullen acquired controlling interest in Bollinger Motors in 2022, retaining and integrating Bollinger’s commercial platform and dealer network, which now comprises more than 50 dealer locations across the country and supports the company’s entry into commercial EV sales. This strategic continuity underscores the company’s long-term commitment to delivering commercial EVs at scale.

Bollinger Innovations enters the next phase with full U.S. assembly, certified products and a clear brand narrative grounded in commercial fleet electrification. With growing regulatory momentum behind domestic EV manufacturing and heavy-duty vehicle electrification, the company’s timing appears well-aligned with national infrastructure goals.

For more information, visit www.BollingerEV.com.

NOTE TO INVESTORS: The latest news and updates relating to BINI are available in the company’s newsroom at https://ibn.fm/BINI

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