The electric vehicle manufacturer also reported USD58.5m in working capital and incoming revenues of over USD12m from recent vehicle deliveries.

The value of the orders received so far amount to approximately USD6m, according to Bollinger's parent, Mullen Automotive.

The upfitted vehicle has a curb weight of 6,840 lbs and a maximum payload of 4,160 lbs.

The Californian company delivered 151 units of its light duty battery electric trucks to distributor Randy Marion Automotive Group, representing a total value of over USD8m.

Development work on the solid-state batteries will take place at the new facility in Fullerton, which covers 122,000 square feet.

‘Commercial Pulse’ provides access to vehicle data and analytics on a subscription basis to customers who purchase Mullen's Class 1 and/or Class 3 commercial vehicles. 

The assets include production lines for battery pack assembly, battery testing and validation equipment, computer numerical control equipment, and module enclosure production.

Mullen is suing brokers such as the Charles Schwab Corporation and its subsidiary TD Ameritrade, National Financial Services, and others whom it alleges conspired to manipulate the share price of Mullen on the NASDAQ.

The ‘Mullen Three’ line will be gradually ramped up to a target of 3,000 units per year, with scope to double this figure by adding a second shift as electric vehicle demand increases.

Over the past several months, the share price of the battery electric vehicle manufacturer has tumbled by 90%, from USD3.25 at the end of March to USD0.32 per share on 13 June. As of writing (25 July), the company’s value stood at USD0.14 per share.

The ‘Mullen One’ is a panel van designed for last-mile deliveries, while the ‘Mullen Three’ is a low cab forward truck - both based on assets acquired from ‘Electric Last Mile Solutions’ (ELMS).

Mullen has stated that these recent acquisitions will allow it to enter the commercial vehicle market much sooner than anticipated - as early as next year.