Another EV Startup Is on the Brink of Death
filing a lawsuit
against UK-based Munro for patent infringement. Prior to that, the company decided to step away from plans to build its blocky B1 SUV and B2 pickup in favor of a
large commercial vehicle
called the B4. Now, that all could be coming to an end.
The company is reportedly in receivership pending liquidation, according to
Automotive News
. The company's founder and former CEO Robert Bollinger filed a lawsuit on March 21 claiming he was owed $10 million. Bollinger stepped away from the company in June 2024; it's currently owned by California-based Mullen Automotive Inc.
The
lawsuit
claims Bollinger issued a $10 million loan to the company that required periodic interest payments, and those payment terms haven't been met.
Automotive News
reports Bollinger requested the company be put into receivership to secure all its assets, which were collateral for the loan. Apparently, representatives for Mullen didn't show up to a May 7 court hearing on the matter, so the judge granted the receivership request.
That means all of Bollinger Motors' assets are now frozen, including an unknown number of B4 trucks assembled and awaiting buyers. Furthermore, Robert Bollinger apparently isn't the only one taking legal action in the matter.
Automotive News
claims at least two other lawsuits involving suppliers are also in the mix. The appointed receiver has 30 days from the date of the ruling to submit a plan for Bollinger Motors to pay its debts, which could include a full liquidation of the company.
In an email to
Motor1
, Bollinger Motors President and CEO Bryan Chambers provided the following statement:
'We can't comment on the outcome of the court case at this time. During this period, we are focused on moving forward and remain committed to bringing our customers a world-class vehicle, and we remain optimistic about our future and the impact we will have on the commercial vehicle market."
'We continue to work with our dealers to sell and service the Bollinger B4. We have temporarily paused production as we adjust to current market conditions and plan for Model Year 2026 production.'
A quick check of Bollinger Motors' website shows a press release from April 29 announcing a Bollinger B4 sale to the Lower East Side Ecology Center in New York. Another press release states "multiple" Bollinger B4 sales to EnviroCharge on April 15, with the first slated to appear at the Advanced Clean Trucking (ACT) Expo in California starting April 28. It's unclear if the truck was there.
The Struggles With Startups
Borgward Brand Dies Again, Declared Bankrupt: Report
Fisker Files for Bankruptcy
Get the best news, reviews, columns, and more delivered straight to your inbox, daily.
back
Sign up
For more information, read our
Privacy Policy
and
Terms of Use
.
Source:
Automotive News
Share this Story
X
Got a tip for us? Email:
tips@motor1.com
Join the conversation
(
)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
a minute ago
- Bloomberg
Venture Global Expects First Arbitration Decision ‘Imminently'
Venture Global Inc. expects the first arbitration case filed by some of the world's biggest energy companies against the US LNG exporter to be concluded 'imminently.' A decision for one of the arbitrations is imminent and the conclusion of set of cases is expected in 2025-2026, the company said as it released second-quarter earnings.
CBS News
a minute ago
- CBS News
CPI rose in June by 2.7% on an annual basis. Here's what that means.
The Consumer Price Index in July rose 2.7% on an annual basis, slightly cooler than economists had forecast. The CPI was expected to rise 2.8% last month, according to economists polled by financial data firm FactSet. The CPI, a basket of goods and services typically bought by consumers, tracks the change in prices on everyday items such as food and apparel over time. So far this year, inflation has stayed at 3% or lower. June's CPI reading was 2.7%. Economists have been watching closely to determine how tariffs might trickle through to the CPI data. For the first several months of the year, the impact appeared to be limited, but June's reading indicated that the levies might be starting to drive up prices in certain categories such as apparel, home furnishings and appliances. Goods from more than 60 countries and the European Union are now subject to a new round of reciprocal tariffs that went into effect on Aug. 7. During a call with media yesterday, Alan Detmeister, an economist at UBS, said the investment bank expects consumers will start to see the direct effects of the tariffs this year or into early next year. "It's possible that these tariff-induced price increases are a one-time price level shock that will start coming down early next year," said Detmeister. "We think they're going to be much more lasting."
CNN
a minute ago
- CNN
US inflation didn't rise as much as expected in July, despite tariff rollout
Inflation didn't rise as much as expected last month — but a measurement of underlying price hikes shows a pickup in tariff-related pressures. Consumer prices rose 0.2% in July, keeping the annual inflation rate at 2.7%, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics. Economists had expected inflation to heat up slightly last month, to 0.2% from June and by 2.8% annually, according to FactSet. This story is developing and will be updated.
