Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower on Monday. The company disclosed that its subsidiary, Bollinger Motors, achieved a milestone on September 20, 2024, by producing the first customer-ready B4 electric truck in Livonia, Michigan.
Bollinger Motors has partnered with Roush Industries for B4 production, utilizing Roush’s contract manufacturing services at its Livonia, Michigan facility.
This collaboration leverages Roush’s expertise in production and e-mobility, developed over 50 years of engineering, testing, prototyping, and manufacturing.
Bollinger, founder of Bollinger Motors said, “We’ve made an impact here in Detroit and I am proud of all the work this team has done to get to this day. We are launching a world-class electric truck that will be a leader in the commercial fleet business.”
Bollinger Motors’ CEO Jim Taylor stated, “The commercial vehicle segment is ready for electrification and Bollinger Motors has developed a world-class truck that will meet the fleet needs for companies across the country. We are excited to see these vehicles roll off the line, head to dealer lots and find a home with our customers.”
Bollinger’s original vision in 2015 focused on launching high-end, all-electric pickup trucks and SUVs. However, recognizing that the electric SUV and pickup markets weren’t fully ready for consumers, Bollinger and his team pivoted in 2022 to develop the Class 4 all-electric truck, the Bollinger B4.
Notably, Bollinger Motors recently announced the 2025 Bollinger B4 Chassis Cab electric truck will have a manufacturer’s suggested retail price (MSRP) of $158,758.
Last week, the company announced an update on Volt Mobility’s recently placed $210 million commercial Class 1 and Class 3 EV order in Dubai.
Price Action: MULN shares are down 8.5% at $6.11 at the last check Monday.
Read Next:
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
This article Mullen Automotive’s Bollinger Motors Powers Up: First Customer-Ready B4 Electric Truck Rolls Off The Line In Michigan originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
