Mullen Automotive acquires controlling interest in EV truck maker Bollinger Motors
09 September 2022
Mullen Automotive, an emerging EV manufacturer, is acquiring a controlling interest in EV truck maker Bollinger Motors. This is Mullen’s first EV acquisition and propels the company into the medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks.
The purchase price is $148.2 million in cash and stock for a 60% controlling interest, which gives Mullen the majority ownership of Bollinger Motors.
Combining Bollinger’s vehicles with our existing class 1 and class 2 EV cargo van programs gives us the chance to dominate the entire class 1-6 commercial light and medium duty truck segments. In addition, Bollinger will be able to leverage Mullen’s solid-state battery technology, making their current vehicles even more competitive as our technology launches across the total portfolio of EVs from both Mullen and Bollinger.
—David Michery, CEO and chairman of Mullen Automotive
Launched in 2015, Bollinger Motors is an American automobile designer and manufacturer of electric sport utility and medium-duty vehicle lines. The company also developed proprietary vehicle battery packs, drivetrains, and thermal and vehicle control software units. In 2017, Bollinger built and debuted the B1 class 3 sport utility vehicle, the first of its kind.
The company followed with the development of the second-generation B1 and B2 vehicles, before pausing in favor of commercial truck development.
Bollinger B1: Class 3 Sport Utility EV SUV
As part of the acquisition, the company brings Mullen nearly 50,000 reservations previously taken for the B1 and B2 sport utility vehicles. With Mullen’s acquisition and capital injection, both B1 and B2 programs will begin after the start of production for class 3-6 commercial truck programs.
The company brings a significant pipeline of interest from large companies for commercial electric truck classes 3-6 in a wide range of markets such as last mile delivery, refrigeration, utilities and their upfitters. On 1 September 2022, Bollinger revealed the B4, a class 4 electric commercial truck. The B4 electric chassis cabs will be the first of the company’s commercial lineup to hit the ground in upcoming client test programs.
Bollinger B4: Class 4 Commercial EV Truck
The new Bollinger B4 is a cab-forward truck, designed from the ground up to offer maximum cargo volume, accommodate unlimited adaptation and prioritize safety. Bollinger will be testing B4 chassis cab trucks this fall with numerous fleet customers, upfitters and charging companies to gather constructive feedback.
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