Bollinger Innovations Reduces Quarterly Cash Burn by 58% While Expanding EV Commercial Vehicle Sales

Bollinger Innovations, Inc. (NASDAQ: BINI) announced a substantial reduction in its quarterly cash burn, decreasing from $21.2 million to $8.9 million, representing a 58% improvement. The electric vehicle manufacturer implemented these cost-cutting measures without compromising its marketing, sales, or manufacturing capabilities, positioning the company for sustained growth as EV sales momentum accelerates across commercial vehicle markets.

The company's product lineup includes the Class 1 urban delivery EV cargo van, the Class 3 urban utility EV cab chassis truck, and the Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck designed with extensive input from fleet operators and upfitters. All vehicles are available for sale in the United States and comply with Federal Motor Vehicle Safety Standards, EPA regulations, and CARB certifications, ensuring regulatory compliance across key markets.

Bollinger Innovations maintains a U.S.-based vehicle manufacturing facility located in Tunica, Mississippi, supporting domestic production of its commercial EV offerings. The company's commercial dealer network consists of six dealers, including Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, and Randy Marion Auto Group, providing comprehensive sales and service coverage in strategic regions including the West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.

Bollinger Motors, the established EV truck company subsidiary of Bollinger Innovations based in Oak Park, Michigan, has achieved significant milestones including the production launch of its B4 Class 4 electric truck on September 16, 2024. The subsidiary has developed a world-class dealer network with over 50 locations across the United States, ensuring robust sales and service support infrastructure for customers nationwide. Investors can access the latest news and updates relating to BINI through the company's newsroom at https://ibn.fm/BINI.