Mullen Automotive has acquired an additional 21% stake in electric truck manufacturer Bollinger Motors, raising its total ownership to 95%. The transaction increases Mullen’s equity by approximately $3.5 million and follows recent financial challenges that led to a court-ordered receivership of Bollinger.
The acquisition allows Bollinger to continue operations under Mullen’s direction. “Bollinger will continue to operate as an independent majority subsidiary, maintaining its own brand identity and focus,” Mullen said in a statement. “All existing and future Bollinger customers can expect business as usual, with full backing and comprehensive coverage on sales, service, and warranty.”
Bollinger’s focus remains on the B4 chassis cab platform, which entered series production in September 2024. The B4 uses an 800-volt electric architecture with LFP batteries supplied by Our Next Energy (ONE), providing a range of up to 185 miles (300 km). The vehicle features a rear-axle electric drive, 158 kWh of energy capacity, and supports 19.2 kW AC and 110 kW DC charging.
The federal receivership was triggered last month after Bollinger was unable to meet financial obligations, including unpaid wages, rent, and supplier invoices. Mullen has since settled these debts.
“This is an important moment for both Mullen Automotive and Bollinger Motors,” said David Michery, CEO and chairman of both companies. “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.”