Mullen Automotive, Inc. ( MULN ) shares are trading higher on Wednesday. The company’s Bollinger Motors disclosed its first West Coast customer delivery for a total retail value of nearly $500,000.

The company sent three 2025 Bollinger B4 Chassis Cabs to TEC Equipment dealerships in Lacey, Washington; Fontana, California; and Oakland, California.

The Bollinger B4 Chassis Cab is a fully electric, Class 4 commercial truck, engineered from the ground up with input from fleet operators and upfitters.

Bollinger Motors’ revenue from recent vehicle deliveries will be recognized in Mullen’s fiscal quarter ending December 2024.

The 2025 Bollinger B4 chassis cab qualifies for federal clean vehicle tax credits of $40,000 per vehicle under the Inflation Reduction Act. With additional state incentives, total savings could exceed $100,000.

Jim Connelly, chief revenue officer for Bollinger Motors, said, “The West Coast represents a critical region of the country for electric vehicle success, and today’s deliveries to TEC Equipment are significant steps forward for Bollinger Motors.”

This week, Bollinger Motors founder Robert Bollinger provided $10 million in debt financing to support production and sales of the B4 electric truck.

Earlier this month, the company stated that it aims to reach $75 million in GAAP revenue through commercial and Bollinger Motors sales, with a $12.5 million monthly average.

Price Action: MULN shares are up 3.96% at $2.402 at the last check Wednesday.

Read Next:

Mullen Automotive Tightens Belt With 20% Workforce Cut And Revenue Push – What’s Going On?