Mullen Automotive has recently acquired 60% of Bollinger Motors‘ struggling stock for $148.2 million, aiming to solidify their positions in the rapidly expanding markets for electric sport utility and commercial vehicles.
Mullen Automotive revealed that Bollinger-designed medium-duty vehicles and sport utility pickups would be added to its inventory. The deal “positions Bollinger to capture the electric sport utility and commercial vehicle markets,” the company added.
Mullen Automotive is an EV manufacturer that is not that prominent in Southern California with a stated mission to build “the next-generation of premium electric vehicles that are affordable and built entirely in the United States,” according to The Verge. In 2024, it intends to introduce its first electric crossover, the Mullen FIVE.
Meanwhile, a Michigan-based startup called Bollinger Motors debuted in 2015 with a goal to produce all-electric commercial vehicles for classes 3 through 6. Earlier this year, the business delayed the development of the Bollinger B1 and B2 off-road electric pickup trucks.
In retrospect, Detroit auto supplier Roush was chosen by Bollinger to build its line of platforms and chassis cabs for commercial electric vehicles under a contract. For instance, the 2020-released Deliver-E electric van was planned to be constructed on a variable vehicle platform that supports different battery sizes.
However, it is worth noting that the said van was not intended to be manufactured but was instead used as an “interpretation” of the type of vehicle body that may be constructed using its electric platforms.
On the other hand, with Mullen on the side, it is anticipated that the development of B1 and B2 electric trucks will resume.
“With years of history in class 3 truck development, intellectual property, patents, and expertise, [Bollinger’s] decision made sense to pivot into commercial vehicle development for classes 3-6,” Mullen said in a release. “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.”
With this newly established force, Mullen and Bollinger will continue to expand the team and create commercial all-electric platforms.
