BOLLINGER INNOVATIONS Business Summary

Bollinger Innovations, Inc. (BINI), formerly known as Mullen Automotive, operates as a commercial electric vehicle (EV) manufacturer and distributor, generating revenue primarily through the direct sale of Class 1, 3, and 4 all-electric vehicles and proprietary battery system technology. The company’s business model is structured around two primary segments: Bollinger Motors, which focuses on medium-duty commercial trucks (Classes 4-6) and vocational chassis, and Mullen Commercial, which manages the engineering and assembly of Class 1 cargo vans and Class 3 cab chassis trucks. BINI leverages a U.S.-based manufacturing footprint, centered in Tunica, Mississippi, to serve a national dealer network and fleet operators. In a competitive landscape featuring rivals such as Canoo, Workhorse Group, and Rivian’s commercial division, Bollinger Innovations positions itself as a vertically integrated domestic producer specializing in niche urban delivery and medium-duty vocational applications. The company is led by Founder, Chairman, and CEO David Michery, a veteran executive with over 30 years of experience in business restructuring, distressed assets, and marketing within the automotive sector. The leadership team includes Chief Financial Officer Jonathan New, who previously held CFO roles at Blink Charging and Motorsport Games, and Chief Accounting Officer Chester Bragado, a licensed CPA with a background in Big 4 consulting. Technical operations are spearheaded by Ethan Le, Vice President of Product Engineering, and Corry Davis, Vice President of Vehicle Integration and Homologation, both of whom bring extensive backgrounds in electric traction systems and vehicle certification. BINI’s board of directors includes independent members such as Mark Betor and John K. Andersen, while Winvest Investment Fund Management Corp remains a notable institutional stakeholder with a significant ownership position.