Mullen Automotive acquires controlling stake in Bollinger and ELMS assets
By Bradley Osborne - 9th January 2023
USA – Mullen Automotive Inc of Brea, California, announced two acquisitions in the past few months: Bollinger Motors Inc, a manufacturer of electric SUVs, pickup trucks, and medium-duty trucks based in Oak Park, Michigan; and the assets of Electric Last Mile Solutions (ELMS)1 including a factory in Indiana. Mullen has stated that these recent acquisitions will allow it to enter the commercial vehicle market much sooner than anticipated.
In September, Mullen announced it had acquired a controlling interest (60%) in Bollinger Motors through a USD148.2m transaction in cash and shares. The acquisition brings Bollinger Motors’ products into Mullen’s wider portfolio, including the ‘B4’ medium-duty electric truck, which was unveiled recently.