SoCAL EV truck maker on move - Orange County Register

SoCAL EV truck maker on move

Mullen’s operations to shift to Michigan, HQ to stay in Brea

Since January, Brea-based Mullen Automotive Inc., which is changing its name to Bollinger Innovations, has eliminated 155 jobs and reduced operating expenses by roughly $35 million annually. courtesy of CBRE

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By Pat Maio

pmaio@scng.com

Brea-based Mullen Automotive Inc. announced Tuesday that it’s moving commercial operations to Michigan and shedding jobs as the electric vehicle truck maker struggles to improve its finances and vehicle sales.

The company also is changing its name to Bollinger Innovations and ticker symbol before Aug. 15. In midday trading, the stock (MULN) traded Tuesday at about 11 cents a share. The company does not yet have a new ticker.

Since January, the company has eliminated 155 jobs and reduced operating expenses by roughly $35 million annually. The company’s consolidation includes the operational shift to Oak Park, Michigan, and merging Mullen and Bollinger sales, marketing and service operations under the Bollinger brand.

The company said it plans to continue focusing on building its Class 1, 3 and 4 commercial vehicles. Class 1 through 3 trucks are generally considered light-duty vehicles, while Class 4 trucks are medium-duty.

David Michery, chairman and CEO of Mullen Automotive, will have the same executive position with Bollinger Motors after the consolidation takes place.

Mullen began assembling EV cargo vans in 2024 at plants in Tunica, Mississippi, and Mishawaka, Indiana.

Mullen spokesperson Jason Putnam said Tuesday that the company has no plans to move its headquarters out of California, despite the concentration of operations in Michigan, including a move for its sales and marketing teams.

While saying that its manufacturing will remain in Mississippi, Putnam did not shed light on the future of a leased a 121,615-square-foot warehouse built on the former home of Kraft Heinz Foods in Fullerton. The company sold its Indiana facility to the GEM Group, Putnam said.

In June, Bollinger Motors said it emerged from receivership after parent company Mullen Automotive settled claims in a lawsuit filed by Bollinger Motors’ founder, Robert Bollinger. In connection with the settlement, Mullen Automotive boosted its investment in Bollinger Motors and became a 95% owner.

In the past year, Mullen landed $10 million in financing from Robert Bollinger, and regained Nasdaq compliance to trade on the stock exchange following three reverse stock splits in 2023. Mullen made its first delivery of EV trucks on the East Coast to Randy Marion Automotive Group in North Carolina in June 2023.