Mullen Automotive Inc., a Southern California-based EV manufacturer, announced Monday that it has acquired an additional 21 percent stake in Bollinger Motors, bringing its total ownership to 95 percent. The transaction not only strengthens Mullen’s strategic position but also adds approximately $3.5 million to shareholder equity.
The deal comes after Mullen resolved longstanding claims and debts that had pushed Bollinger into court-ordered receivership. With legal matters now settled and the case officially dismissed with prejudice, Bollinger is once again operating on stable ground. The company will continue functioning as an independent subsidiary under the Mullen umbrella, maintaining its brand identity and operational autonomy while benefiting from expanded corporate support.
“This is a pivotal moment not only for Mullen Automotive, but for the future of Bollinger Motors,” said David Michery, chairman and CEO of both Mullen and Bollinger. “We believe in Bollinger’s platform, its engineering, and its role in our broader commercial EV strategy. This increased stake demonstrates our long-term commitment to reshaping the commercial EV space.”
A Focus on Commercial Electric Innovation
Founded in 2015 by automotive designer and entrepreneur Robert Bollinger, Bollinger Motors carved out a niche in the EV world with its bold, boxy electric truck prototypes. While its consumer products were ultimately paused, the company’s pivot to commercial vehicles has garnered attention. The centerpiece of that strategy is the Bollinger B4 Chassis Cab—an all-electric Class 4 commercial truck designed with upfitters and fleet operators in mind.
The B4 is powered by a 158-kWh battery and built on Bollinger’s patented Quad-Bend™ chassis, which integrates battery protection with enhanced handling and structural integrity. The vehicle delivers a range of up to 185 miles on a single charge, boasts a tight 46-foot turning radius, and supports a payload capacity of 7,325 pounds—specs that make it well-suited for dense urban logistics and municipal fleets.
Mullen’s acquisition ensures Bollinger can press forward on its development roadmap, aided by the parent company’s broader resources, including manufacturing capacity in Tunica, Mississippi and Mishawaka, Indiana. Both locations are central to Mullen’s efforts to scale production of commercial EVs across multiple vehicle classes.
Strategic Realignment Amid Industry Shifts
The announcement comes as electric vehicle startups navigate a turbulent landscape. Supply chain constraints, regulatory headwinds, and a cooling investor appetite have forced many players to consolidate or retool. For Mullen, the strengthened relationship with Bollinger signals a clear focus on the commercial segment, where electrification continues to gain traction amid pressure to reduce emissions in city fleets and last-mile logistics.
Michery emphasized that while Bollinger will maintain its own leadership and design ethos, the backing of Mullen will be crucial in delivering on timelines and scaling up infrastructure to meet demand. “Our objective is to ensure Bollinger has the tools and stability it needs to thrive, from product development to aftersales support,” he said.
The Bollinger B4 entered production in September 2024 and is now available through a growing network of over 50 service and dealer locations nationwide. The company is also working closely with federal and state agencies to ensure its vehicles meet eligibility for a range of EV incentives, which could significantly lower acquisition costs for fleet customers.
Mullen Automotive (NASDAQ: MULN) Class 1 and Class 3 electric trucks—the Mullen ONE and Mullen THREE—are both certified by the California Air Resources Board (CARB) and the Environmental Protection Agency (EPA). Sales are supported by a dealer network that includes partners such as Papé Kenworth, Pritchard EV, Ziegler Truck Group, and Randy Marion Auto Group.
Meanwhile, Bollinger Motors, headquartered in Oak Park, Michigan, continues to refine its focus on durable, modular EV platforms for vocational and municipal fleets.
Meanwhile, trading in Mullen Automotive’s stock was temporarily halted Monday morning but later resumed. The pause coincided with the company’s execution of a 1-for-100 reverse stock split—an effort aimed at regaining compliance with Nasdaq’s \$1 minimum bid price requirement. The move is part of Mullen’s broader strategy to maintain its public listing and ensure access to capital markets as it pursues expansion across the commercial EV sector.