Mullen Automotive buys a controlling stake in Bollinger Motors
in the coming years. The tie-up should help both firms leverage the benefits of economies of scale.
Mullen acquired a 60% stake in Bollinger for $148.2 million in cash and stock. While passenger cars and cargo vans remain its primary focus, it added that it invested in Bollinger due to the strong interest that"major customers" have shown in thethat the company has pledged to launch. It singled out clients in the delivery, telecom, municipal services, and utilities sectors.
"Combining Bollinger's vehicles with our existing Class 1 and Class 2 electric cargo van programs gives us the chance to dominate the entire Class 1-6 commercial light- and medium-dutyMullen noted the purchase includes nearly 50,000 reservations for
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