Mullen Automotive Stock Price, News & Analysis

Mullen Automotive Inc. (NASDAQ: MULN), now operating under the corporate name Bollinger Innovations, Inc. and trading on The Nasdaq Capital Market under the symbol BINI, is described in company communications as a Southern California-based automotive company focused on building the next generation of electric vehicles (EVs). The company’s activities span commercial electric vehicles, high‑performance passenger EVs and majority ownership of an electric truck manufacturer.

According to multiple company press releases, Mullen/Bollinger Innovations develops and sells commercial electric vehicles through a lineup that includes the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck. These vehicles are described as purpose-built to address urban last‑mile delivery needs and are stated to be in full compliance with U.S. Federal Motor Vehicle Safety Standards, Environmental Protection Agency requirements and California Air Resources Board (CARB) certifications for sale in the United States.

The company reports that it began commercial vehicle production at a U.S. manufacturing facility in Tunica, Mississippi, and has also referenced a large automotive plant in Mishawaka, Indiana in past disclosures. In a June 2025 settlement announcement, Mullen stated that it transferred ownership of the Mishawaka, Indiana, facility to GEM entities as part of resolving legal disputes, while continuing to emphasize commercial vehicle production in Tunica. Across its communications, the company highlights U.S.-based manufacturing as a core element of its commercial EV strategy.

In addition to its own branded vehicles, Mullen/Bollinger Innovations holds a majority stake in Bollinger Motors, Inc., a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is described as producing and selling an all‑electric Class 4 commercial chassis cab truck, the Bollinger B4. Company announcements state that the B4 is an all‑electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input, featuring a chassis design intended to protect the battery pack and components and to support capability, maneuverability and safety in commercial use.

Press releases further note that Bollinger Motors has developed a dealer and service network with over 50 locations across the United States for sales and support of its Class 4 trucks. For Mullen’s commercial EVs, the company cites a separate commercial dealer network consisting of Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto and Randy Marion Auto Group, providing sales and service coverage in key U.S. regions including the West Coast, Midwest, Pacific Northwest, New England and Mid‑Atlantic markets.

Beyond commercial vehicles, Mullen also describes an EV development portfolio that includes the Mullen FIVE EV Crossover, the Mullen-GO Commercial Urban Delivery EV, and additional commercial Class 1–3 EVs. In a June 2025 announcement, the company highlighted the Mullen FIVE RS, characterized as an ultra‑high‑performance EV crossover with specified performance targets and 800‑volt architecture, all‑wheel drive and a two‑speed gearbox. The company has indicated plans related to vehicle testing and future market launches for the FIVE RS in Germany and other regions, while also stating an intention to introduce the model in the United States after establishing a sales track record in key European markets.

Corporate disclosures describe several structural and capital‑markets developments. In September 2022, Bollinger Motors became a majority‑owned EV truck company of Mullen Automotive. Subsequent announcements in 2025 state that Mullen increased its ownership stake in Bollinger Motors to approximately 95%, resolving litigation and receivership issues and confirming that Bollinger Motors would continue to operate as a majority‑owned subsidiary with its own brand identity and focus on commercial trucks.

In mid‑2025, Mullen announced a plan to consolidate operations and rebrand the parent company as Bollinger Innovations, Inc.. According to company press releases and a July 2025 Form 8‑K, the corporate name change became effective on July 28, 2025, and the Nasdaq ticker changed from MULN to BINI. The company has stated that this change brings its products and brands together under a unified identity focused on the commercial vehicle industry, while indicating that the legal structure and underlying business operations remain the same.

The company has also reported steps to streamline operations and reduce costs, including consolidation of Mullen and Bollinger Motors commercial vehicle operations and a move of commercial operations to Oak Park, Michigan, along with reductions in headcount and operating expenses. These measures are described as intended to eliminate redundancy while continuing to focus on Class 1, 3 and 4 commercial vehicle segments.

In capital‑markets communications, Bollinger Innovations has filed registration statements and proxy materials addressing financing arrangements, preferred stock designations, reverse stock splits and Nasdaq listing requirements. In July and August 2025, the company reported a 1‑for‑250 reverse stock split of its common stock and described efforts to address Nasdaq continued listing standards, including market value of listed securities and bid‑price rules, through corporate actions and shareholder approvals.

Company press releases also reference participation in various state and federal incentive programs relevant to commercial EV adoption. For example, Mullen has highlighted that its commercial EVs are eligible for incentives under programs such as California’s Hybrid and Zero‑Emission Truck and Bus Voucher Incentive Project (HVIP), Massachusetts Offers Rebates for Electric Vehicles (MOR‑EV), and the ComEd Business & Public Sector EV Rebate Program in Illinois. These programs are presented as mechanisms that can reduce upfront costs for businesses and public sector organizations seeking to electrify their fleets using Mullen commercial vehicles.

In June 2025, Mullen announced that it would begin accepting cryptocurrency, including Bitcoin and a specified meme coin, as payment for purchases of Mullen and Bollinger commercial electric vehicles. The company characterized this as a way to expand its addressable EV market and broaden payment options for commercial and consumer customers.

From a corporate‑governance and financing perspective, SEC filings for Bollinger Innovations describe the use of convertible notes, warrants and multiple series of preferred stock, including Series F and Series G Convertible Preferred Stock, as part of its capital structure. These instruments are associated with potential conversions into common stock, subject to specified conversion prices, floors, ownership limits and other terms. Proxy statements and 8‑K filings outline shareholder approvals for issuances of common stock under these arrangements, reverse stock split authority, and amendments to the company’s equity incentive plan.

Overall, based on the company’s own descriptions in press releases and SEC filings, Mullen Automotive/Bollinger Innovations presents itself as an automotive company centered on commercial electric vehicles, with U.S. manufacturing, a network of commercial dealers, majority ownership of Bollinger Motors and an EV portfolio that includes both commercial trucks and performance‑oriented passenger EVs. Investors researching the historical MULN ticker should be aware that, as of July 28, 2025, the company’s stock trades on Nasdaq under the symbol BINI and the corporate name Bollinger Innovations, Inc., while the underlying business focus described in company communications remains on electric vehicles.