Welcome to our dedicated page for Mullen Automotive news (Ticker: MULN), a resource for investors and traders seeking the latest updates and insights on Mullen Automotive stock.
Mullen Automotive Inc. (formerly trading as MULN and now operating as Bollinger Innovations, Inc. under the symbol BINI) generates frequent news coverage around its electric vehicle activities, corporate restructuring and capital‑markets developments. Company press releases highlight progress in commercial EV production, expansion of dealer and service networks, and the evolution of its relationship with majority‑owned subsidiary Bollinger Motors.
News items commonly describe the company’s commercial EV lineup, including the Mullen ONE Class 1 EV cargo van and Mullen THREE Class 3 EV cab chassis truck, as well as Bollinger Motors’ Bollinger B4 Class 4 all‑electric commercial truck. Coverage often focuses on regulatory certifications, such as CARB and EPA approvals, and participation in state and federal incentive programs that support fleet electrification.
Another recurring theme in MULN/BINI news is corporate and strategic change. Articles and filings have detailed Mullen’s acquisition and increasing ownership stake in Bollinger Motors, the consolidation of Mullen and Bollinger operations, and the 2025 corporate name change to Bollinger Innovations, Inc. with a corresponding Nasdaq ticker change from MULN to BINI. Updates on cost‑reduction efforts, operational consolidation to locations such as Oak Park, Michigan, and legal settlements, including the transfer of the Mishawaka, Indiana facility to GEM entities, also appear in recent releases.
Investors following MULN/BINI news will also see announcements related to new products and markets, such as the relaunch and planned sales of the high‑performance Mullen FIVE RS EV Crossover in Germany and other regions, and initiatives like accepting cryptocurrency as payment for Mullen and Bollinger commercial EVs. Capital‑markets updates, including reverse stock split actions, preferred stock designations, and Nasdaq listing compliance matters, are typically disclosed through SEC filings and accompanying press releases.
This news page aggregates these company‑issued updates and related coverage, giving readers a single place to review developments in Mullen/Bollinger Innovations’ commercial EV business, subsidiary activities, financing transactions and listing‑status communications over time.
Bollinger Motors, an electric commercial vehicle manufacturer, has expanded its retail and service network westward by adding 20 TEC Equipment dealerships. This partnership includes sales and service locations in California, Oregon, and Washington, along with additional service locations across seven states. The Bollinger B4 Chassis Cab, an all-electric class 4 commercial truck, is set to begin deliveries in October 2024.
TEC Equipment, a family-owned full-service truck and trailer dealership, will provide sales, service, and other support for Bollinger vehicles. This expansion is part of Bollinger's recent milestones, including production announcements, EPA certification, significant vehicle sales, and partnerships with key suppliers and service providers.
Mullen Automotive's subsidiary, Bollinger Motors, has expanded its commercial EV network by adding 20 TEC Equipment dealerships across the Western United States. TEC Equipment, representing franchises from Volvo, Mack Trucks, and Wabash Trailers, will serve as an official Bollinger Motors dealer. The new locations span 8 states, including major cities along the I-5 corridor in California, Oregon, and Washington.
The Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck with a 185-mile range, is set to begin production in September 2024. Bollinger has recently achieved several milestones, including EPA certification, vehicle sales to various companies, and partnerships with key suppliers and service providers.
Mullen Automotive (NASDAQ: MULN) has secured a significant $210 million contract with Volt Mobility, a UAE-based commercial leasing company. The agreement involves the purchase of 3,000 Class 1 and Class 3 EV cargo vans and trucks over a 16-month period. Mullen will receive an initial $3 million deposit within 60 days and begin shipping vehicles immediately.
Volt Mobility, which serves major clients like UPS, DHL, and FedEx in the Gulf Cooperation Council region, plans to lease these vehicles to its corporate customers. The order will be assembled at Mullen's Tunica, Mississippi facility, capable of producing 20,000 Class 1 and 6,000 Class 3 vehicles annually with two production shifts.
This deal aligns with the UAE's ambitious plans to decarbonize its infrastructure and energy production, aiming for 100% clean energy by 2050. The agreement provides Mullen with exposure to leading global transportation companies and opportunities in the Middle East market.
Bollinger Motors, an electric commercial vehicle manufacturer, has announced the start of production for its Bollinger B4 Chassis Cab on September 16, 2024, with first deliveries beginning in October 2024. The Class 4 commercial truck features a unique, purpose-built EV chassis design with a 158-kwh battery pack. Bollinger is partnering with Roush Industries for production at their Livonia, Michigan facility.
The company has secured multiple sales orders, including 70 vehicles to Doering Fleet Management, 80 to Momentum Group, and 50 to EnviroCharge. Bollinger has also added dealerships and service centers, partnered with Our Next Energy for battery packs, and qualified for $40,000 federal tax credits per vehicle under the Inflation Reduction Act.
Mullen Automotive's subsidiary, Bollinger Motors, announces the start of production for its B4 Chassis Cab on Sept. 16, 2024, with deliveries and revenue recognition beginning in October 2024. The Class 4 EV truck features a unique chassis design that protects its 158-kwh battery pack, offering enhanced safety compared to competitors. Bollinger is partnering with Roush Industries for production in Livonia, Michigan.
Recent milestones include EPA certification, sales agreements totaling 205 vehicles, and qualification for $40,000 federal tax credits per vehicle under the Inflation Reduction Act. Bollinger has also secured partnerships for battery supply, warranty administration, and mobile service.
Mullen Automotive (NASDAQ: MULN) has announced the sale of its Mullen THREE, Class 3 EV box truck to Princeton University's facilities operations unit. This marks Mullen's expansion into the higher education sector, supporting Princeton's goal of achieving zero emissions for on-campus service vehicles by 2046. The all-electric Mullen THREE features a 125-mile range and is designed for urban last-mile delivery.
The vehicle order was fulfilled through Mullen's dealer partner, Pritchard EV. Princeton's facilities operations manage over 350 vehicles, and this purchase aligns with their sustainability initiatives, including the recent launch of 17 electric buses. The Mullen THREE qualifies for incentives in Massachusetts and California, potentially reducing its cost significantly.
Mullen Automotive (NASDAQ: MULN) reported financial results for Q3 2024 ending June 30. Key highlights include:
- Positive stockholders' equity of $53 million as of June 30, 2024
- Total assets of $192 million
- Net loss of $289.9 million for the nine months ended June 30, 2024
- Invoiced 377 vehicles valued at $16.8 million in first 9 months of FY2024
- Secured $250 million new financing commitment
- Received EPA certification for Bollinger's B4 Class 4 EV chassis cab
- Announced new commercial EV orders valued at $7.7 million
- Expanded dealer network and received state incentive approvals
The company is focusing on scaling its commercial EV business in the U.S. and internationally. However, it faces challenges including significant net losses and decreasing cash reserves.
Mullen Automotive (NASDAQ: MULN) announces a follow-on purchase of Mullen ONE Class 1 EV cargo vans by the University of Virginia (UVA) for its Sustainable Fleet Department. This order comes after UVA's initial purchase in 2023 and follows a recent $7.7 million, 180-vehicle order from dealer partner Eco Auto. The growing demand highlights the increasing market for Mullen's electric commercial vehicles.
UVA's purchase aligns with its sustainability goals, including achieving carbon neutrality by 2030 and fossil fuel independence by 2050. The university has already electrified 13% of its Facilities Management vehicles and increased EV usage by 275% from 2020 to 2023. Mullen's EV lineup includes the Mullen ONE and Mullen THREE, both compliant with U.S. safety and emissions standards and eligible for various state incentives.
Mullen Automotive Inc. (NASDAQ: MULN) announces a significant expansion through its dealer Eco Auto. Eco Auto will purchase 180 commercial EVs over 18 months, valued at $7.7 million, with deliveries starting September 2024. This includes 130 Class 1 EV cargo vans and 50 Class 3 EV trucks. Eco Auto is expanding its coverage to Pennsylvania, Connecticut, Rhode Island, New Hampshire, Maine, and Vermont, meeting growing demand for commercial EVs.
Mullen's commercial lineup includes the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck), both compliant with U.S. safety and emissions standards. The Mullen THREE qualifies for significant incentives: a $15,000 incentive in Massachusetts and a $45,000 rebate in California. The Mullen ONE is eligible for a $3,500 incentive in Massachusetts.
Mullen Automotive (NASDAQ: MULN) has promoted John Taylor to president of its commercial EV division while retaining his role as SVP of global manufacturing. Taylor, who joined Mullen in 2021, has been instrumental in launching the Mullen ONE Class 1 EV cargo van and Mullen THREE Class 3 low cab forward commercial EV in late 2023. In his new role, he will oversee engineering, supply chain management, and manufacturing for the commercial vehicle operations.
Taylor brings over 35 years of automotive experience, including significant roles at General Motors and Tesla. At Tesla, he was one of the first 50 employees and played a important role in establishing the Fremont facility and manufacturing operations for the Tesla Model S. CEO David Michery expressed confidence that Taylor's expertise will drive growth and expand Mullen's market share in the commercial EV sector.
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