Potential Discounts on Mullen/Bollinger products (BINI) worth $15,000 - Could it be a Clearing Sale?

Potential Discounts on Mullen/Bollinger products (BINI) worth $15,000 - Could it be a Clearing Sale?

In a move aimed at making electric vehicles (EVs) more accessible, Bollinger Innovations (BINI) has announced that their Mullen ONE and Mullen THREE models are eligible for the commercial EV incentive under the Inflation Reduction Act. This incentive, which expires on September 30, 2023, could result in significant savings for potential buyers.

The Mullen ONE, a Class 1 electric cargo van, now starts at an MSRP of $27,000. After the federal incentive of $7,500, the effective price drops to a competitive $19,500. Similarly, the Mullen THREE, a Class 3 EV cab chassis truck, starts at $61,000, with the federal incentive reducing the price to $53,500. This totals a combined savings of $15,000 on each vehicle if delivery occurs before the federal incentive expires.

Jim Connelly, chief revenue officer for BINI and Bollinger Motors, has stated that these price adjustments and federal incentives make the existing Mullen ONE and Mullen THREE among the best values on the market today.

However, BINI is currently facing legal pressure from several vendors who have filed lawsuits alleging non-payment for goods and services. Notable among these are Tool House Inc. and Wurth Electronics. Despite this, CEO David Michery remains optimistic about the company's future, assuring that they are actively working to settle debts and maintain good relationships with key partners like contract manufacturer Roush Enterprises.

BINI has taken steps to streamline operations and rebrand its commercial vehicles under the Bollinger name. In late July, the company changed its name and Nasdaq ticker symbol to BINI as part of this strategy. This rebranding will take effect starting in the 2026 model year.

In addition to the Mullen ONE and Mullen THREE, BINI's commercial EV portfolio includes the Bollinger B4, a Class 4 electric truck, and a larger B5 Class 5 model slated for 2027. The company recently completed a 1-for-250 reverse stock split to raise its share price above Nasdaq's $1 minimum requirement.

Despite the challenges, BINI remains committed to offering affordable zero-emission options in their segments. With the Inflation Reduction Act incentive, these vehicles are now more attractive than ever to potential buyers.

The rebranding of BINI's commercial vehicles under the Bollinger name signals a shift towards a more streamlined approach, aligning with the company's commitment to offering affordable zero-emission options in the general-news sector. Amidst the ongoing legal disputes, the Inflation Reduction Act incentive provides a significant opportunity for potential buyers to save on technology-driven electric vehicles, particularly the Mullen ONE and Mullen THREE models, making them competitive contenders in the sports and lifestyle markets.

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