Home » Mullen Automotive Acquires 60% Curiosity in EV Maker Bollinger Motors in Oak Park

Mullen Automotive Acquires 60% Curiosity in EV Maker Bollinger Motors in Oak Park

Bollinger, the corporate behind the fully-electric B4 cassis cab truck, had a majority stake of its enterprise acquired by Mullen Automotive. // Courtesy of Mullen Automotive

Mullen Automotive Inc., an electrical car (EV) producer based mostly in Brea, Calif., has acquired a controlling curiosity in Oak Park EV truck firm Bollinger Motors, shifting it into the medium-duty class 3-6 truck class.

The acquisition value is $148.2 million in money and inventory for a 60 p.c controlling curiosity, which supplies Mullen the bulk possession of Bollinger Motors and positions Bollinger to raised enter the electrical sport utility and industrial car markets.

“This acquisition is without doubt one of the largest within the EV business so far and offers Mullen with the distinctive alternative to aggressively develop into the high-demand industrial EV area. The sturdy curiosity proven by main clients in all of the high-volume segments like supply, telecom, municipal companies, and utilities is a transparent indication of the market’s need for Bollinger’s automobiles,” says David Michery, CEO and chairman of Mullen Automotive.

“Combining Bollinger’s automobiles with our present class 1 and sophistication 2 EV cargo van applications offers us the possibility to dominate your complete class 1-6 industrial gentle and medium responsibility truck segments. As well as, Bollinger will be capable of leverage Mullen’s solid-state battery know-how, making their present automobiles much more aggressive as our know-how launches throughout the whole portfolio of EVs from each Mullen and Bollinger.”

Launched in 2015, Bollinger has developed proprietary car battery packs, drivetrains, and thermal and car management software program models alongside its automobiles. In 2017, Bollinger constructed and debuted the B1 class 3 sport utility car, the primary of its type.

As a part of the acquisition, the corporate brings Mullen practically 50,000 reservations beforehand taken for the B1 and B2 sport utility automobiles. With Mullen’s acquisition and capital injection, each B1 and B2 applications will start after the beginning of manufacturing for sophistication 3-6 industrial truck applications.

“We’re proud to design our industrial EVs from the bottom up, right here in America, providing better effectivity, decrease complete value of possession, and better cargo quantity. Our dream is to construct the world’s finest vehicles and SUVs,” says Robert Bollinger, founder and CEO of Bollinger Motors.

“Mullen shares an analogous dream to construct the very best EV vehicles and vehicles. This partnership will carry us nearer to creating these visions a actuality, because it permits us to ramp up manufacturing on our finish and get Mullen’s EV applications to the market quicker.”

The corporate states it brings a pipeline of curiosity from giant corporations for industrial electrical truck lessons 3-6 in a variety of markets reminiscent of last-mile supply, refrigeration, utilities, and their upfitters. On Sept. 1, 2022, Bollinger revealed for the primary time the B4, a category 4 electrical industrial truck.

The B4 electrical chassis cabs would be the first of the corporate’s industrial lineup to hit the bottom in upcoming consumer check applications. The brand new Bollinger B4 incorporates years of suggestions from dozens of main fleets trying to electrify their automobiles. The result’s a cab-forward truck, designed from the bottom as much as provide most cargo quantity, accommodate limitless adaptation, and prioritize security.

Bollinger can be testing B4 chassis cab vehicles this fall with quite a few fleet clients, upfitters, and charging corporations to assemble constructive suggestions.

“I’m actually impressed with what Robert Bollinger has created for the industrial car area and the off-road succesful B1 and B2 sport utility automobiles,” says Michery. “Bollinger is a real innovator and generational firm, and we consider they’ve the potential to show the sector on its head, much like what the Hummer H1 did over 30 years in the past. Bollinger is a transformative acquisition and paradigm shift for the EV business.”