EV startup Bollinger acquired by Mullen Automotive for $148.2 million

Image: Bollinger

A controlling stake in an electric vehicle startup has been acquired by an automotive company.

The trucks will be added to the inventory. The electric sport utility and commercial vehicle markets will be captured by the deal.

The next- generation of premium electric vehicles that are affordable and built entirely in the United States is the goal of Mullen, a relatively unknown Southern California electric vehicle manufacturer.

In 2015, a pair of very cool looking, rugged, box-like electric truck prototypes were created by Bollinger. After running into speed bumps in its attempt to build a complex vehicle manufacturing business, the company pivoted to electric commercial vans.

Roush was selected as a contract manufacturer by Bollinger to assemble its line of platforms and cabs. The Deliver-E electric van will be built on a variable vehicle platform that allows for multiple battery sizes.

Image: Bollinger

The company's B1 and B2 electric trucks caught the imagination of people. With today's deal, the trucks are back on, despite the fact that those vehicles were put on pause.

Bollinger decided to pivot into commercial vehicle development for classes 3-6 because of his years of experience in class 3 truck development. More than 50,000 reservations for the B1 and B2 sport utility vehicles have been brought on board by the company. The B1 and B2 programs will start after the start of production for class 3-6 commercial truck programs.

There has been a lot of acquisitions in the last few years, but there hasn't been as much consolidation on the EV side. Experts think this will change soon, with small EV startups looking to larger companies for cash to help them.