Bollinger Innovations Inc. said it is working to reduce cash burn and streamline operations by moving production of its Bollinger B4 electric trucks from Roush Industries in Michigan to its own facility in Tunica, Miss. The shift, executives said, will lower manufacturing costs, improve efficiency and give the company greater control over production.
The California-based electric vehicle maker, which recently unified its brands under the Bollinger Innovations name and Nasdaq ticker BINI, reported a net loss of $291.8 million for the nine months ended June 30, 2025. That compares with a $289.9 million loss a year earlier. Cash reserves fell to just $0.9 million as of June 30, down from $10.7 million in September 2024, leaving the company with a working-capital deficit of $144.1 million.
Bollinger has been leaning on financing activities to stay afloat, raising $63.7 million in the first nine months of fiscal 2025, up sharply from $7.5 million a year ago. Since June 30, the company said it has bolstered shareholder equity by more than $110 million. Spending cuts have also been significant: operating and investing cash outflows were $73.6 million through June, down 54% from the prior year.
Alongside the restructuring, Bollinger has pushed deeper into the commercial EV market. It adjusted pricing on its Class 1 and 3 vans by $7,500 and is touting potential combined incentives of up to $15,000 per vehicle when paired with federal tax credits. Deliveries during the quarter included trucks for the Lower East Side Ecology Center in New York, EnviroCharge mobile charging units, and Global Expert Shipping in California. The company is also opening up new payment options, including cryptocurrency such as Bitcoin and even meme-based tokens.
Bollinger regained 95% ownership of Bollinger Motors in June after acquiring an additional 21% stake and resolving a court-ordered receivership. State and federal incentive programs, including those in New York and Illinois, are expected to help drive new orders by reducing upfront costs for commercial fleet buyers.
The company is also betting on next-generation batteries, showcasing 30 kWh and 80 kWh packs at industry events and partnering with Enpower Greentech on solid-state battery development.