Mullen Automotive Inc (MULN)

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Mullen Automotive Acquires Controlling Interest in EV Truck Innovator Bollinger Motors, Inc.
September 08 2022 - 09:15AM
GlobeNewswire Inc.
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via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today its acquisition of a controlling interest in EV truck innovator Bollinger Motors. This is Mullen’s first EV acquisition and propels the Company into the medium duty truck classes 3-6, along with the B1 and B2 sport utility trucks. The purchase price is $148.2 million in cash and stock for a 60% controlling interest, which gives Mullen the majority ownership of Bollinger Motors, Inc. and positions Bollinger to capture the electric sport utility and commercial vehicle markets. On Thursday, Sept. 8, at 2 p.m. EDT, Mullen Automotive and Bollinger Motors will host a live YouTube webinar introducing the two companies.