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NEWS

Acquisition alert: Mullen Automotive to take

control of EV truck manufacturer Bollinger

Mullen Automotive has recently acquired EV truck manufacturer Bollinger. We mentioned the
latter just a few days ago, on the occasion of the company’s launch of the Class-4 electric truck
for the North American market. Now, Bollinger is going to belong to a new group. According to
Launched in 2015, Investorwire, the purchase price is $148.2 million in cash and stock for a 60% controlling interest,
Bollinger Motors which gives Mullen the majority ownership of Bollinger Motors, Inc. and positions Bollinger to
is an American capture the electric sport utility and commercial vehicle markets.
automobile
designer and Launched in 2015, Bollinger Motors is an American automobile designer and manufacturer
manufacturer of electric sport utility and medium-duty vehicle lines. The company also successful-
of electric ly developed proprietary vehicle battery packs, drivetrains, and thermal and vehicle
sport utility and control software units. In 2017, Bollinger built and debuted the critically acclaimed
medium-duty B1 class 3 sport utility vehicle, the first of its kind. The company followed its initi-
vehicle lines.
As part of the al success with the development of the second-ge-
acquisition, neration B1 and B2 vehicles before pausing in
the company favor of commercial truck development.
brings Mullen As part of the acquisition,
nearly 50,000 the company brings Mullen
reservations nearly 50,000 reservations
previously taken previously taken for the B1
for the B1 and and B2 sport utility vehicles.
B2 sport utility
vehicles.

Statements from Bollinger and Mullen Automotive

“We are proud to design our commercial EVs from the ground up, here in America, offering gre-
ater efficiency, lower total cost of ownership and greater cargo volume. Our dream is to build the
world’s best trucks and SUVs”, said Robert Bollinger, founder and CEO of Bollinger Motors. “Mullen
shares a similar dream to build the best EV cars and trucks. This partnership will bring us closer to
making those visions a reality, as it allows us to ramp up production on our end and get Mullen’s
EV programs to the market faster”.

“This acquisition is one of the largest in the EV in-
dustry to date and provides Mullen with the unique
opportunity to aggressively expand into the hi-
gh-demand commercial EV space. The strong inte-
rest shown by major customers in all the high-vo-
lume segments like delivery, telecom, municipal
services, and utilities is a clear indication of the
market’s desire for Bollinger’s vehicles”, said David
Michery, CEO and chairman of Mullen Automotive.

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