Brea-based Mullen Automotive Inc. announced Tuesday, July 15 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 chief executive officer 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. It’s unclear from Tuesday’s announcement whether the commercial truck operations will mean one of these operations is closing, or continuing in some other production role.
Mullen spokesman 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 EV truck business hasn’t been smooth sailing for Mullen.
In June, Bollinger Motors said it emerged from receivership as its 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.
The company claims to have seen a steady order flow in recent months.
In September, the United Arab Emirate-based Volt Mobility placed $210 million worth of pre-orders with Mullen for EV vans and trucks. The deal with Volt Mobility provided 300 all-electric commercial cargo vans, heavy-duty pickups and commercial trucks in 2024 with a total of 3,000 deliveries in 2025.
