Bollinger Innovations Announces Additional Cost Cutting Measures
Bollinger Innovations (NASDAQ: BINI) has announced significant cost-cutting measures as part of its ongoing operational consolidation. The company has implemented a 61% reduction in quarterly G&A and R&D expenses, dropping from $47.7M to $18.6M.
Key measures include additional staff reductions, closure of facilities in Irvine, Monrovia, and Mishawaka, elimination of third-party manufacturing with Roush Industries, and consolidation of B4 production to their Tunica plant. The company maintains its focus on commercial EV sales, offering Class 1 delivery vans, Class 3 utility trucks, and the B4 Chassis Cab, all compliant with federal safety and emissions standards.
Bollinger Innovations (NASDAQ: BINI) ha annunciato significative misure di contenimento dei costi nell'ambito della sua consolidamento operativo in corso. L'azienda ha attuato una riduzione del 61% delle spese trimestrali G&A e R&D, passando da $47,7M a $18,6M.
Le misure principali includono ulteriori riduzioni del personale, la chiusura degli stabilimenti di Irvine, Monrovia e Mishawaka, l'eliminazione della produzione da terzi con Roush Industries e la concentrazione della produzione del B4 nello stabilimento di Tunica. L'azienda mantiene il focus sulle vendite commerciali di veicoli elettrici, offrendo furgoni da consegna di Classe 1, camion per servizi di Classe 3 e il telaio-cabina B4, tutti conformi agli standard federali di sicurezza e emissioni.
Bollinger Innovations (NASDAQ: BINI) ha anunciado medidas significativas de reducción de costes como parte de su consolidación operativa en curso. La compañía ha implementado una reducción del 61% en los gastos trimestrales de G&A y I&D, pasando de $47,7M a $18,6M.
Las medidas clave incluyen recortes adicionales de personal, el cierre de instalaciones en Irvine, Monrovia y Mishawaka, la eliminación de la fabricación por terceros con Roush Industries y la concentración de la producción del B4 en su planta de Tunica. La empresa mantiene su enfoque en las ventas comerciales de vehículos eléctricos, ofreciendo furgonetas de reparto Clase 1, camiones utilitarios Clase 3 y el chasis-cabina B4, todos cumpliendo con los estándares federales de seguridad y emisiones.
Bollinger Innovations (NASDAQ: BINI)는 진행 중인 운영 통합의 일환으로 대대적인 비용 절감 조치를 발표했습니다. 회사는 분기별 총무·관리(G&A) 및 연구개발(R&D) 비용을 61% 감축하여 $47.7M에서 $18.6M로 줄였습니다.
주요 조치로는 추가 인력 감축, 어바인(Irvine), 몬로비아(Monrovia), 미쇼와카(Mishawaka) 시설 폐쇄, Roush Industries와의 외주 생산 중단 및 B4 생산을 튜니카(Tunica) 공장으로 통합하는 것이 포함됩니다. 회사는 상업용 전기차 판매에 계속 주력하며, 연방 안전·배출 기준을 준수하는 클래스 1 배송 밴, 클래스 3 유틸리티 트럭 및 B4 섀시 캡을 제공하고 있습니다.
Bollinger Innovations (NASDAQ: BINI) a annoncé d'importantes mesures de réduction des coûts dans le cadre de sa consolidation opérationnelle en cours. La société a mis en œuvre une réduction de 61 % des dépenses trimestrielles de G&A et R&D, passant de $47,7M à $18,6M.
Les mesures clés comprennent des réductions supplémentaires d'effectifs, la fermeture des sites d'Irvine, Monrovia et Mishawaka, la suppression de la fabrication par des tiers avec Roush Industries et la consolidation de la production du B4 dans leur usine de Tunica. La société maintient son attention sur les ventes de véhicules électriques commerciaux, proposant des fourgons de livraison de classe 1, des camions utilitaires de classe 3 et le châssis-cabine B4, tous conformes aux normes fédérales de sécurité et d'émissions.
Bollinger Innovations (NASDAQ: BINI) hat im Zuge seiner laufenden operativen Konsolidierung erhebliche Kostensenkungsmaßnahmen angekündigt. Das Unternehmen hat die vierteljährlichen G&A- und F&E-Ausgaben um 61% reduziert, von $47,7M auf $18,6M.
Zu den wichtigsten Maßnahmen gehören weitere Stellenstreichungen, die Schließung der Standorte in Irvine, Monrovia und Mishawaka, der Wegfall der Fremdproduktion mit Roush Industries und die Konsolidierung der B4-Produktion in das Werk in Tunica. Das Unternehmen bleibt auf den Verkauf kommerzieller Elektrofahrzeuge fokussiert und bietet Klasse-1-Zustellwagen, Klasse-3-Nutzfahrzeuge und das B4-Chassis-Cab an, die alle den bundesstaatlichen Sicherheits- und Emissionsvorschriften entsprechen.
- Significant 61% reduction in quarterly G&A and R&D expenses from $47.7M to $18.6M
- Operational consolidation and streamlining expected to improve efficiency
- Production consolidation to company-owned facility may reduce manufacturing costs
- Diverse commercial EV portfolio with full regulatory compliance
- Substantial workforce reductions indicating potential operational challenges
- Closure of multiple facilities suggesting significant scaling back of operations
- Elimination of third-party manufacturing partnership with Roush Industries
- High operating expense burn rate requiring aggressive cost-cutting measures
Insights
Bollinger's aggressive 61% cost reduction signals severe operational distress requiring radical restructuring to extend runway amid challenging EV market conditions.
Bollinger Innovations' announcement represents a dramatic cost-cutting initiative that slashes quarterly G&A and R&D expenses from
The comprehensive nature of these cuts is particularly telling. The company is simultaneously reducing headcount, closing facilities across three states (Irvine, CA; Monrovia, CA; and Mishawaka, IN), eliminating third-party manufacturing relationships with Roush Industries, and consolidating production to their Tunica, MS plant. This suggests a desperate attempt to extend runway rather than strategic repositioning.
What's notably absent from this announcement is any mention of current revenue, production volumes, or sales targets. The statement that the company's "continued focus is on selling commercial vehicles" without specific figures suggests minimal current commercial traction. The emphasis on "near term commercial revenue generation" indicates a critical need to demonstrate viable market demand.
This restructuring follows a recent merger and rebranding, which typically creates integration challenges and organizational disruption. The consolidated approach may create efficiencies but also risks losing specialized expertise and manufacturing quality as third-party relationships are eliminated.
This level of cost-cutting will inevitably impact operational capabilities, particularly in R&D, suggesting a significant narrowing of strategic options and likely extension of development timelines for future products. The EV commercial vehicle market remains challenging, with established competitors gaining ground while Bollinger appears to be in retrenchment mode.
Company cost cutting initiatives include additional staff cuts and closing of facilities to further reduce overall operating expenses
For the quarter ending June 30, 2025, G&A and R&D expenses totaled
Post recent consolidation of Company operations, additional reductions include:
- Additional reduction in staff
- Further elimination of facilities and personnel in Irvine, CA, Monrovia, CA, Mishawaka, IN
- Elimination of third-party manufacturing, specifically Roush Industries
- Consolidation of B4 production line from Roush Industries to Company-owned plant in Tunica, MS
- Additional reduction of operating expense burn rate
BREA, Calif., Sept. 02, 2025 (GLOBE NEWSWIRE) -- via IBN – Bollinger Innovations, Inc. (NASDAQ: BINI) (“Bollinger Innovations” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today the Company has initiated additional staff reductions and further elimination of facilities as the Company continues to consolidate business operations since its recent merger under the Bollinger Innovations brand. The Company continues focus on reduction of current burn rate while increasing near term commercial revenue generation.
For the quarter ending June 30, 2025, G&A and R&D expenses totaled
Post recent consolidation of Company operations under Bollinger Innovations, additional reductions include the following:
- Additional reduction in staff, post recent consolidation of Company operations
- Further elimination of facilities and personnel in Irvine, CA, Monrovia, CA, Mishawaka, IN
- Elimination of third-party manufacturing, specifically Roush Industries
- Consolidation of B4 production line from Roush Industries to Company-owned plant in Tunica, MS
- Additional reduction of operating expense burn rate
“We recently completed our rebranding under Bollinger Innovations and have identified additional efficiencies under our new streamlined Company operations,” said David Michery, CEO and chairman of Bollinger Innovations and Bollinger Motors. “Our continued focus is on selling commercial vehicles and advancing our Company forward in 2025 and beyond.”
The Company’s commercial EV lineup includes the Class 1 urban delivery EV cargo van, and the Class 3 urban utility EV cab chassis truck, purpose-built to meet the demands of urban last-mile delivery and service. The Bollinger B4 Chassis Cab is an all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input.
All vehicles are available for sale in the U.S. and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency, and the California Air Resources Board (“CARB”) certifications denoting strict adherence to clean air emissions standards.
About Bollinger Innovations, Inc.
Bollinger Innovations (NASDAQ: BINI) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with a U.S. based vehicle manufacturing facility located in Tunica, Mississippi. Both the ONE, a Class 1 EV cargo van, and THREE, a Class 3 EV cab chassis truck, are available for sale in the U.S. The Company’s commercial dealer network consists of six dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.
Bollinger Motors, of Oak Park, Michigan, is an established EV truck company of Bollinger Innovations. Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer network with over 50 locations across the United States for sales and service support.
To learn more about the Company, visit www.BollingerEV.com.
Forward-Looking Statements
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 Innovations and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether timeframes for implementation of anticipated cost-cutting and expense reduction initiatives and the resultant impact to the Company, if any, of these measures are met. Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Innovations’ ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Innovations’ ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Bollinger Innovations’ ability to successfully expand in existing markets and enter new markets; (iv) Bollinger Innovations’ 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 Innovations’ business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Innovations’ business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Innovations’ business; (x) Bollinger Innovations’ ability to protect its intellectual property; and (xi) 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 Bollinger Innovations with the Securities and Exchange Commission. Bollinger Innovations anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Bollinger Innovations assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result 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 Innovations’ plans and expectations as of any subsequent date.
Contact:
Bollinger Innovations, Inc.
+1 (714) 613-1900
www.BollingerEV.com
Corporate Communications:
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512-354-7000 Office
Editor@InvestorBrandNetwork.com
FAQ
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