Mullen Automotive Increases Stake in Bollinger Motors, Resolves Receivership

Mullen Automotive has significantly expanded its ownership of Bollinger Motors, increasing its stake to 95% and resolving a court-ordered receivership. The acquisition, valued at approximately $3.5 million in additional shareholder equity, represents a strategic move in the commercial electric vehicle (EV) sector.

The resolution of outstanding claims and debt has allowed Bollinger Motors to continue operations independently under Mullen's ownership. The company will continue to support its commercial EV lineup, with particular focus on the all-electric B4 Chassis Cab.

This acquisition enables Mullen to leverage synergies between the two companies, potentially accelerating the development of the B4 and strengthening its position in the commercial EV market. The move comes as Mullen has already begun commercial vehicle production in its Tunica, Mississippi facility and received federal EV tax credit approvals.

The expanded ownership aligns with Mullen's broader strategy of growing its commercial EV portfolio. The company now has multiple certified vehicles, including the Mullen ONE cargo van and Mullen THREE truck, and has expanded its dealer network to seven locations across key U.S. markets.

The acquisition represents a significant step in Mullen's ongoing efforts to establish itself as a competitive player in the rapidly evolving electric vehicle landscape, particularly in the commercial and fleet vehicle segments.