Bollinger Motors manufactures electric sport utility and medium duty vehicle lines and has also developed proprietary drivetrains, battery packs, and thermal and vehicle control software units
Mullen Automotive, an American electric vehicle (EV) manufacturer, has acquired a 60% stake in Bollinger Motors, an EV truck innovator, in a cash and stock deal worth $148.2m.
Founded in 2015, Bollinger Motors is a Michigan-based automobile designer that is engaged in manufacturing electric sport utility and medium duty vehicle ranges.
The company has also developed proprietary drivetrains, battery packs, and thermal and vehicle control software units.
About five years ago, Bollinger Motors developed and launched the B1 class 3 sport utility vehicle. It followed this by developing the second-generation B1 and B2 vehicles before putting a hold on them to focus on commercial truck development.
Bollinger Motors founder and CEO Robert Bollinger said: “We are proud to design our commercial EVs from the ground up, here in America, offering greater efficiency, lower total cost of ownership and greater cargo volume. Our dream is to build the world’s best trucks and SUVs.
“Mullen shares a similar dream to build the best EV cars and trucks. This partnership will bring us closer to making those visions a reality, as it allows us to ramp up production on our end and get Mullen’s EV programs to the market faster.”
Mullen Automotive said that with its controlling stake and injection of capital, the B1 and B2 programmes will both commence after the launch of production for class 3-6 commercial truck programmes.
Besides, the deal will help Bollinger Motors expedite the delivery of the class 4 EV trucks to next year.
Mullen Automotive CEO and chairman David Michery said: “The strong interest shown by major customers in all the high-volume segments like delivery, telecom, municipal services and utilities is a clear indication of the market’s desire for Bollinger’s vehicles.
“Combining Bollinger’s vehicles with our existing class 1 and class 2 EV cargo van programmes gives us the chance to dominate the entire class 1-6 commercial light and medium duty truck segments.”
“In addition, Bollinger will be able to leverage Mullen’s solid-state battery technology, making their current vehicles even more competitive as our technology launches across the total portfolio of EVs from both Mullen and Bollinger.”