Latest news with #B4ChassisCab
Motor 1
2 days ago
- Automotive
- Motor 1
Bollinger Motors Has Been Saved From the Brink of Death
Bollinger Motors has been saved. Mullen Automotive has acquired an additional 21 percent of the company, bringing its total ownership to 95 percent. Despite having complete control over Bollinger, Mullen said the automaker will maintain 'its own brand identity and focus.' Bollinger reportedly went into receivership earlier this year after company founder and former CEO Robert Bollinger sued the automaker, who left in 2024. He claimed Bollinger Motors owed him $10 million, but all that should be in the company's past. According to Mullen announcing the acquisition, it has 'resolved recent claims and debt that had led to a court-ordered receivership for Bollinger.' The court has discharged and removed the receiver and dismissed the case, Mullen says. Bollinger customers should expect 'business as usual,' which includes sales, services, and warranty coverage. The company will continue to develop the B4 chassis cab , its all-electric Class 4 commercial truck. Bollinger will utilize Mullen's resources to accelerate development and integrate the B4 into Mullen's EV ecosystem. Bollinger was founded in 2015 with initial plans to develop a mid-size electric pickup and an SUV. However, the B1 and B2 never entered production, and the company shifted focus to an electric commercial truck. Production for that began last September. More Cheap EVs Fiat's First Three-Wheel EV Is This Super Cute Delivery Truck Opinion: I Love and Loathe Bezos's Cheap Pickup Truck 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: Mullen Automotive Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Yahoo
14-05-2025
- Automotive
- Yahoo
Another EV Maker Is on the Brink of Collapse
Another electric vehicle maker appears to be on the brink of collapse, the latest in a growing trend of EV startups failing to break through in a crowded marketplace. This time it's Bollinger Motors, a commercial EV company founded nearly 10 years ago. According to The Detroit News, the company, which was acquired by Mullen Automotive in 2022, has been struggling to pay employees, contribute to 401(k) accounts and cover debts. Those debts include a $10 million loan from founder Robert Bollinger, who earlier this year filed a lawsuit against the company, claiming it was broke and that production had stopped. Most Read on IEN: Production Car Shatters Speed Record VW's Electric Bus Recalled for Too Much Seating Room Ford Worker Accused of Stealing Millions in Parts Podcast: VW's Too Big Seats; Flying Motorcycle; Rivian's Secret Stockpile Now Bollinger has been placed in court-ordered receivership, which will figure out what to do with the company's remaining assets. The financial struggles for Bollinger come shortly after the company announced its B4 Chassis Cab, an all-electric Class 4 commercial truck. Production for the vehicle began last year in Michigan. But as the report points out, sales have been slow for the nearly $140,000 truck, with only two sold in the past month and about 40 in inventory. Bollinger had partnered with Roush Industries to build its B4 trucks but production stopped in January and now Bollinger is completely locked out of the facility after missing $1.8 million in payments. Bollinger's troubles reflect similar hardships for other electric vehicle companies. Earlier this year, both Nikola and Canoo filed for bankruptcy. And last year, Fisker shut down and tried to get out of the lease at its former California headquarters, which were apparently vacated so quickly that the company's landlord described the aftermath as 'complete disarray,' and that the building looked like it had been 'ransacked.' Click here to subscribe to our daily newsletter featuring breaking manufacturing industry in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
26-03-2025
- Automotive
- Associated Press
As of March 21, 2025, Mullen has Recognized Record GAAP Quarterly Revenue of $3.18M
Company sees 189% increase in second fiscal quarter GAAP revenue compared to entire 2024 fiscal year GAAP revenue Increase shows continued significant positive revenue growth for Company BREA, Calif., March 26, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) ('Mullen' or the 'Company'), an electric vehicle ('EV') manufacturer, today announces record GAAP revenue of $3.18 million as of March 21, 2025. This quarterly revenue to date represents an 189% increase when compared to $1.1 million of GAAP revenue for all of 2024. 'Our fiscal Q2 will close with our strongest revenue performance to-date,' said David Michery, CEO and chairman of Mullen Automotive. 'Our revenue and overall momentum continues to build at a strong clip, demonstrating solid sales growth opportunity for both Mullen and Bollinger commercial vehicles.' Mullen's commercial EV lineup includes the Mullen ONE, Class 1 EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck. Both vehicles are available for sale and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency, and the California Air Resources Board ('CARB') certifications denoting strict adherence to clean air emissions standards. Bollinger's recently launched commercial vehicle, the B4 Chassis Cab, is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. Bollinger's unique chassis design protects the 158-kwh battery pack and components to offer unparalleled capability and safety in the commercial market. The company began delivering Bollinger B4 vehicles to customers in October. About Mullen Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ('EVs') with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ('CARB') and EPA certified and available for sale in the U.S. The Company's commercial dealer network consists of seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets. In September 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer and service network with over 50 locations across the United States. To learn more about the Company, visit Forward-Looking Statements Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as 'continue,' 'will,' 'may,' 'could,' 'should,' 'expect,' 'expected,' 'plans,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential' and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to future revenue performance, future demand or sales for the Company's vehicles and whether governmental and other electric vehicle incentive programs will continue. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen's plans and expectations as of any subsequent date. Mullen Automotive, Inc. IBN Austin, Texas
