Mullen has agreed to transfer ownership of its Mishawaka facility to GEM Group as part of a settlement to resolve a four-year legal battle.

Mullen announced a definitive agreement to acquire an additional 21% stake in Bollinger, increasing shareholder equity by approximately USD3.5m.

Bollinger has struggled to make payments on its loans to various creditors, including a $10m loan from company founder Robert Bollinger, since the beginning of the year, according to a local news report.

The companies have agreed to manufacturer ‘Swift’ semi solid-state batteries at Mullen’s Fullerton facility in California, a 1-GWh site which it opened in 2023.

The company says its facility in Fullerton, California is already set up to produce a “high volume” of batteries with “standard” chemistry (likely LFP) on one line and low volumes of battery packs for research and development purposes on two other lines.

The commercial electric vehicle manufacturer says it will reduce the number of employees across multiple sites by 20% overall as part of its cost-cutting measures.

Papé Kenworth will distribute Mullen’s two commercial electric vehicle ranges, the ‘Mullen One’ van and the ‘Mullen three’ light-duty truck.

Founded in 2020, Volt Mobility provides long-term secured leases for commercial electric vehicles, from last-mile delivery vans to long haulage trucks, to clients in the Persian Gulf region.

Mullen is now entirely exempt from export duties and taxes by U.S. customs for any Class 1 and 3 vehicles sold abroad which are produced at the Tunica site.

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.