Mullen, a leading commercial electric vehicle manufacturer, has secured a significant $150 million capital infusion to support its expansion of domestic and international sales efforts and to ramp up production of Bollinger’s electric trucks.
The company received a $100 million financing commitment from an undisclosed family office and sold an additional $50 million of senior secured convertible notes to family offices and high net worth investors. With this fresh injection of $150 million, Mullen is well-positioned to meet its capital needs over the next 13 months, including the funds required to enable the production of the Bollinger Motors B4.
The Bollinger B4 is a cabover-style chassis cab with a 15,500 lb. GVWR, powered by one or two 79 kWh battery packs offering 85 or 185 miles of range. Featuring a 250 kW (~325 hp) eAxle generating more than 625 lb-ft. of torque at 0 RPM, the B4 is well-equipped to handle heavy-duty tasks with confidence.
Expected to join Mullen’s existing commercial delivery vehicles in series production later this year, the B4 demonstrates the company’s commitment to expanding its electric vehicle lineup. Both the Class 1 and Class 3 commercial EVs by Mullen are currently available for delivery, setting the company apart in the industry.
Mullen has also expanded its commercial dealer network, adding Pritchard EV and National Auto Fleet Group to provide enhanced customer support in the Midwest and West Coast regions. Additionally, the company recently received Foreign Trade Zone Status approval for its Tunica, Mississippi, manufacturing center, offering various benefits to its commercial vehicle production.
As Mullen continues to grow its presence in the electric vehicle market, the future looks promising for Bollinger’s B1 and upcoming models like the B4. Stay tuned for an upcoming episode on The Heavy Equipment Podcast featuring Mullen CEO David Michery, where he discusses the company’s funding, market position, and the exciting developments in Bollinger’s lineup.
