On Thursday, September 8th, 2022 Mullen announced its acquisition of a controlling interest in
EV truck innovator 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, Inc. and positions Bollinger to capture
the electric sport utility and commercial vehicle markets.
Launched in 2015, Bollinger Motors is an American automobile designer and manufacturer of electric sport
utility and medium-duty vehicle lines. The company also successfully developed proprietary vehicle battery
packs, drivetrains, and thermal and vehicle control software units. In 2017, Bollinger built and debuted
the critically acclaimed B1 class 3 sport utility vehicle, the first of its kind. The company followed
its initial success with the development of the second-generation B1 and B2 vehicles before pausing in
favor of commercial truck development.
With years of history in class 3 truck development, intellectual property, patents, and expertise, the
company's decision made sense to pivot into commercial vehicle development for classes 3-6. 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. A video presentation of
Bollinger's history can be found here.
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 Sept. 1, 2022, Bollinger revealed the B4, a class 4 electric commercial truck, for the first time. The B4
electric chassis cabs will be the first of the company’s commercial lineup to hit the ground in upcoming client
test programs. The new Bollinger B4 incorporates years of feedback from dozens of major fleets looking to electrify
The result 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. Further details on Bollinger’s B4
announcement can be found here.
David Michery, CEO and chairman of Mullen Automotive, and Robert Bollinger, CEO and founder of Bollinger Motors, discussed Mullen's
majority acquisition of Bollinger and the strategic vision for both EV companies on a live webinar that occurred on
Thursday, Sept. 8, at 2 p.m. ET. The webinar can be found below:
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