Bollinger Innovations, Inc. (NASDAQ: BINI) ("Bollinger Innovations" or the "Company"), an electric vehicle ("EV") manufacturer, announces today the Company has taken further cost cutting actions by reducing its quarterly cash burn from $21.2 million to $8.9 million, resulting in a 58% decrease.

The Company remains focused on reducing expenses without affecting marketing, sales and manufacturing capabilities while EV sales momentum continues to grow across commercial vehicle Classes 1, 3 and 4.

"We remain committed to our commercial vehicle sales opportunities and expanding our market reach while continuing to focus on positioning the Company for long term success," stated David Michery, CEO and Chairman of Bollinger Innovations and Bollinger Motors.                            

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.

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