Bollinger Motors has achieved a significant milestone with the Internal Revenue Service (IRS) granting the company “qualified manufacturer” status for clean vehicle credits under the Inflation Reduction Act (IRA) of 2022. This designation allows Bollinger’s B4 chassis cab to qualify for the IRA’s newly established credit for emissions-free commercial vehicles, providing a potential tax credit of up to $40,000 per vehicle.
Under the provisions of Section 45W of the Internal Revenue Code, purchasers of Bollinger’s B4 chassis cab have the option to choose between two credit options. They can either claim a purchase credit amounting to 15% of the vehicle’s basis, or 30% if the vehicle is not powered by traditional gasoline or diesel engines. Alternatively, purchasers can opt for a credit based on the incremental cost of the vehicle compared to a similar model equipped with a gas or diesel engine.
Robert Bollinger, founder and CEO of Bollinger Motors, expressed enthusiasm about the IRS approval, stating, “Bollinger Motors is poised for growth and we’re ready to help electrify America’s fleets. These tax credits are an important incentive for our customers to replace their gas and diesel trucks and lower their total cost of ownership.”
The Bollinger B4 chassis cab, designed for medium-duty trucks, is scheduled to commence deliveries in the second half of 2024. Initially introduced in April 2022, the technical specifications of the vehicle were unveiled at that time, although no production date was set. The B4 chassis cab operates on a rear axle electric drive system utilizing an 800-volt platform powered by LFP batteries. Customers have the option to equip the vehicle with one or two battery packs, each offering approximately a 100-mile range, thereby enabling a maximum range of up to 200 miles.
Bollinger Motors’ successful IRS approval and the availability of clean vehicle credits signify a significant step forward in the company’s mission to establish itself as a prominent player in the EV market, while also contributing to the broader efforts aimed at reducing carbon emissions and promoting sustainable transportation solutions.
