New York State to Offer New Commercial EV Incentives in August; Perfect Time to Buy the Bollinger B4 All-Electric Truck

Rhea-AI Summary

Mullen Automotive (NASDAQ: MULN) announces significant EV incentives available through its subsidiary Bollinger Motors for commercial electric vehicles in New York starting August 2025. The New York Truck Voucher Incentive Program (NYTVIP) will offer credits ranging from $85,000 to $144,000, which can be combined with federal tax credits of up to $40,000 for Class 4 vehicles.

The federal tax credit expires after September 30, 2025. Bollinger's B4 all-electric Class 4 commercial truck features a 158-kWh battery pack and patented Quad Bend frame construction, designed specifically for urban use cases with enhanced maneuverability and safety features.

Positive

• None.

Negative

• Federal tax credit expires after September 30, 2025
• Limited time window for incentives with high expected demand

Insights

Commercial Vehicle Industry Analyst

NY's $85K-$144K EV incentives plus federal credits could significantly boost Bollinger B4 sales before critical September deadline.

The announcement of New York's Truck Voucher Incentive Program (NYTVIP) replenishment in August creates a substantial but time-limited market opportunity for Mullen's subsidiary Bollinger Motors. These $85,000 to $144,000 incentives, combined with the federal $40,000 tax credit expiring after September 30, represent a dramatic reduction in acquisition costs for commercial fleet operators.

The timing creates a narrow 8-week window of maximum incentives that could accelerate purchase decisions. Jim Connelly's urging for companies to prepare purchase orders in July signals Bollinger's sales strategy to capitalize on this brief period of peak affordability. The warning that funds could be depleted "in a matter of weeks" creates urgency that may drive near-term sales.

For Bollinger's Class 4 B4 truck, these incentives could potentially cover 60-70% of the vehicle's cost, dramatically improving the total cost of ownership equation for fleet operators. The press release strategically emphasizes the B4's design features that make it well-suited for urban commercial applications – precisely the market segment these incentives target.

This incentive-driven sales opportunity comes at a critical time for Mullen Automotive, potentially providing much-needed revenue acceleration for the Bollinger Motors subsidiary as it establishes market position in the competitive commercial EV space.

Incentives ranging from $85,000 to $144,000 available to stimulate commercial electric vehicle market; Bollinger B4 all-electric truck primed to sell

BREA, Calif., July 15, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces its subsidiary, Bollinger Motors, reveals that August will be one of the best times to buy a commercial electric vehicle, as funding for state incentives in New York are set to be replenished, according to Bollinger Motors. The New York Truck Voucher Incentive Program (“NYTVIP”) is a state incentive aimed to accelerate commercialization by providing point-of-sale vouchers to make advanced vehicles more affordable.

The NYTVIP program can provide credits from $85,000 up to $144,000. Paired with the 45W federal tax credit — up to $40,000 for a Class 4 — and you’ve got unprecedented up-front affordability for commercial EVs. The federal tax credit will expire for any commercial electric vehicle delivered after September 30, 2025.

“The New York program is a model for how government incentives can stimulate the market for clean transportation,” said Jim Connelly, chief revenue officer for Bollinger Motors. “Any company with sustainable transportation goals that wants to take advantage of this access to important incentives should act quickly. We anticipate demand for program funds will be high and they could be gone again in a matter of weeks.”

Connelly urged companies to prepare purchase orders in July so they can be at the front of the line when the programs reopen in August.

Bollinger Motors’ commercial Class 4 all-electric truck, the Bollinger B4, is a prime example of a vehicle supported by programs such as HVIP and NYTVIP. 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 B4 also has been designed with exceptional driving characteristics. The company’s patented Quad Bend frame construction allowed for the battery pack to be housed inside the frame wells, while tapering toward the cab to allow tighter turning radius for the vehicle’s tires. The vehicle’s powerful pickup, combined with its tight turning radius, makes the B4 a versatile truck for multiple urban use cases.

About Bollinger Motors

Founded in 2015, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is producing and selling its all-electric commercial Class 4 chassis cab truck. In September of 2022, Bollinger Motors became a majority-owned company of Mullen Automotive, Inc. (NASDAQ: MULN).

Learn more at www.BollingerMotors.com. 

About Mullen

Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. 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. The Company’s commercial dealer network consists of seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.

In September 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. 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.MullenUSA.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 Mullen and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, how long the NYTVIP incentive and other government incentives will be available and the net pricing impact of these programs on Bollinger’s vehicles. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s 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 Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s 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 Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen 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 Mullen’s plans and expectations as of any subsequent date.

Mullen Automotive Contact:

Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

Bollinger Media Contact:

Mike DeVilling, (248) 875-4207, mdevilling@westshorepr.com

Corporate Communications

IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

FAQ

What are the EV incentives available for Mullen's Bollinger B4 truck in New York?

The New York Truck Voucher Incentive Program (NYTVIP) offers $85,000 to $144,000 in credits, plus up to $40,000 in federal tax credits for Class 4 vehicles.

When do the MULN Bollinger B4 federal tax credits expire?

The federal tax credits of up to $40,000 for commercial electric vehicles will expire after September 30, 2025.

What are the key features of Mullen's Bollinger B4 electric truck?

The B4 features a 158-kWh battery pack, patented Quad Bend frame construction, tight turning radius for urban use, and enhanced safety features with the battery pack housed inside frame wells.

How can businesses apply for the New York EV incentives for Bollinger B4?

Companies should prepare purchase orders in July 2025 to be first in line when the NYTVIP program reopens in August 2025.

What is the total potential savings on a Bollinger B4 commercial EV?

Businesses can save up to $184,000 through combined incentives: up to $144,000 from NYTVIP and up to $40,000 from federal tax credits.