Brea-based Mullen Automotive buys majority stake of Bollinger Motors for $148 million – Orange County Register

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Mullen Automotive, a Brea-based maker of electric cars, has aquired a controlling interest in Bollinger Motors in a move that will expand the company’s reach into EV medium-duty and sport utility trucks.

The purchase price — including $148.2 million in cash and stock for a 60% controlling interest — gives Mullen the majority ownership of Bollinger Motors and positions Bollinger to capture the electric sport utility and commercial vehicle markets.

Mullen CEO and Chairman David Michery said the acquisition will allow his company to expand into the high-demand commercial EV space while Bollinger leverages Mullen’s Mullen’s solid-state battery technology.

“The strong interest shown by major customers in all the high-volume segments like delivery, telecom, municipal services and utilities is a clear indication of the market’s desire for Bollinger’s vehicles,” Michery said in a statement.

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