Bollinger Innovations Announces Additional Cost Cutting Measures
1. BINI reduced G&A and R&D expenses from $47.7M to $18.6M. 2. The company plans additional staff cuts and facility closures for cost savings. 3. BINI focuses on increasing near-term commercial revenue generation after consolidation. 4. Recent operations consolidation includes moving production to a company-owned plant. 5. BINI aims to enhance efficiency and support its EV product lineup.