Mullen takes over another 21% of Bollinger
Mullen has settled the recent claims and debts that led to a court-ordered receivership for Bollinger. This means that Bollinger will continue to operate as previously, under Mullen’s new ownership and strategic direction. In an accompanying press release, Mullen specified: “Bollinger will continue to operate as an independent majority subsidiary, maintaining its own brand identity and focus. All existing and future Bollinger customers can expect business as usual, with full backing and comprehensive coverage on sales, service, and warranty for their Bollinger vehicles.”
According to Mullen’s communication, Bollinger will continue to focus on the development and production of the B4 platform and plans to leverage Mullen’s resources and expertise to accelerate its progress. Bollinger started series production of the B4 chassis cab in September 2024. The Bollinger B4 was first announced in 2022. It features a rear-axle electric drive and utilises an 800-volt platform with LFP batteries. It has two battery packs with a total energy content of 158 kWh, enabling a range of up to 185 miles or about 300 kilometres. The batteries are supplied by Our Next Energy (ONE), with whom Bollinger signed a deal in 2022. They can be charged AC at 19.2 kW and DC at 110 kW. Charging from zero to 100 per cent takes nine and two hours, respectively.
The financial troubles were only revealed last month, when a U.S. federal judge placed the company in receivership. This decision was made after it became known that Bollinger Motors was no longer able to fulfil its financial obligations. Employees were no longer receiving their salaries, rents remained unpaid, and suppliers were also waiting in vain for outstanding payments.
“This is an important moment for both Mullen Automotive and Bollinger Motors,” said David Michery, CEO and chairman of Mullen Automotive and Bollinger Motors. “Our investment in acquiring the vast majority of remaining shares and resolving certain significant outstanding debt demonstrates our belief in and continued commitment to Bollinger’s vehicle lineup and future.”
1 Comment