Mullen secures $150 million financing deal, Bollinger production

Commercial EV manufacturer Mullen has scored a $150 million capital infusion that will allow it to expand its domestic and international sales efforts – and put Bollinger’s beefy electric trucks into series production.

Mullen received a $100 million financing commitment from an undisclosed family office and sold an additional $50 million of senior secured convertible notes to both family offices and high net worth investors. With a fresh $150 million on hand, the company says its capital needs over the next 13 months are met – which includes the funds needed to put the Bollinger Motors B4 into regular production.

The Bollinger B4 is a cabover-style chassis cab with a 15,500 lb. GVWR powered by either one or two 79 kWh battery packs good for 85 or 185 miles of range, respectively. Both versions are motivated by a 250 kW (~325 hp) eAxle that reportedly generates more than 625 lb-ft. of torque at 0 RPM.

More than enough, in other words, to get every one of those 15,500 lbs. up to speed and down the road with confidence.

Bollinger B4 specs

Bollinger B4 medium-duty electric truck; via Bollinger.

The Bollinger B4 will join the Mullen 3 and 1 commercial delivery vehicles (shown, at top) in series production later this year, but it’s worth noting that both Mullen’s Class 1 and Class 3 commercial EVs are available for delivery now – something that not everyone in the industry, even established players, can really say.

Mullen has also recently expanded its commercial dealer network with the addition of Pritchard EV and National Auto Fleet Group, which gives customers added support in both the Midwest and on the West Coast. The Company also recently announced Foreign Trade Zone Status approval for its Tunica, Mississippi, commercial vehicle manufacturing center, which provides a number of benefits, including deferment of duties owed and elimination of duties on exported vehicles.

Electrek’s Take

Bollinger B1 chassis cab; via Bollinger.

The B4 is to Bollinger is like the Cayenne or Macan is to Porsche: a necessary, mainstream offering that must thrive in order for the B1 or 911 that we really want to exist. The good news on that front, though, is that the Class 3 work truck version of the B1 (above) is well on its way to production now that Mullen has secured the GM plant that, once upon a time, produced the Hummer H2.

We interviewed Mullen CEO David Michery on The Heavy Equipment Podcast and discussed Mullen’s funding, its place in the market, and the future of Bollinger’s B1 – look for that episode to drop in the next few days.

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