Mullen Automotive Increases Ownership of Bollinger Motors, Resolves Legal Challenges

Mullen Automotive has significantly expanded its ownership of Bollinger Motors, increasing its stake to 95% and resolving complex legal challenges that previously placed the electric vehicle manufacturer under court-ordered receivership. The transaction represents a strategic investment of approximately $3.5 million in shareholder equity and signals Mullen's commitment to growing its commercial electric vehicle (EV) portfolio.

The acquisition enables Bollinger Motors to continue operations independently while benefiting from Mullen's resources and industry expertise. Central to this development is the continued support for Bollinger's commercial EV lineup, particularly the all-electric B4 Chassis Cab, which remains a key focus for the combined entity.

This transaction arrives at a critical moment for Mullen, which has been actively expanding its commercial EV manufacturing capabilities. With production facilities in Tunica, Mississippi, and Mishawaka, Indiana, the company has already begun commercial vehicle production and secured important regulatory certifications. In September 2023, Mullen received IRS approval for federal EV tax credits, offering eligible customers up to $7,500 per vehicle.

The strategic ownership increase in Bollinger Motors represents more than a financial transaction; it demonstrates Mullen's broader vision for accelerating electric vehicle development and establishing a stronger foothold in the commercial EV market. By leveraging synergies between the two companies, Mullen aims to drive innovation and growth in an increasingly competitive sector.

With both the Mullen ONE cargo van and Mullen THREE truck now California Air Resource Board and EPA certified, the company is positioning itself as a significant player in the emerging electric commercial vehicle landscape. The recent expansion of its dealer network to seven locations further underscores its commitment to widespread market penetration and customer accessibility.

The resolution of the receivership and increased ownership stake suggest a pivotal moment for Mullen Automotive, potentially setting the stage for increased technological innovation and market expansion in the commercial electric vehicle sector.