Picture: Bollinger Motors
Mullen Automotive has acquired a controlling interest in Bollinger Motors, a move intended to strengthen the two EV companies’ positions within the fast-growing electric sport utility and commercial vehicle markets.
Bollinger Motors, a Michigan-based startup was launched in 2015 to make all-electric commercial vehicles for classes 3 through 6.
The $148.2 million acquisition announced gives Mullen a 60% controlling interest in Bollinger, as well as an opportunity to expand into the high-demand commercial EV space the company said.
The company aim to produce the Bollinger B1 and B2 off-road electric pickup trucks but postponed development earlier this year.
Mullen has not yet launched a car and it plans to launch its first ever electric cross over, the Mullen FIVE, in 2024.
The investment will help fast-track the development of Bollinger’s class commercial electric trucks, including a class 4 vehicle expected next year and resume its consumer truck program, according to the startup.
Mullen and Bollinger will continue to grow the team and develop all-electric commercial platforms, leveraging each other’s resources, including Mullen’s solid-state battery technology.