Mullen Announces Name Change to Bollinger Innovations and Consolidation of Operations to Drive Efficiency
Mullen Automotive (NASDAQ: MULN) announced a major corporate restructuring, including a name change to Bollinger Innovations and consolidation of operations expected before August 15, 2025. The company has implemented significant cost-cutting measures, eliminating 155 positions and reducing annual operating expenses by $35 million.
The consolidation involves relocating commercial vehicle operations to Oak Park, Michigan, and unifying Mullen and Bollinger's sales, marketing, and service operations under the Bollinger brand. The company's commercial EV lineup includes the Mullen ONE (Class 1 cargo van), Mullen THREE (Class 3 cab chassis), and Bollinger B4 (Class 4 chassis cab) with a 185-mile range and 7,325-pound payload capacity.
Mullen Automotive (NASDAQ: MULN) ha annunciato una significativa ristrutturazione aziendale, che include un cambio di nome in Bollinger Innovations e una consolidazione delle operazioni prevista entro il 15 agosto 2025. L'azienda ha adottato importanti misure di riduzione dei costi, eliminando 155 posti di lavoro e riducendo le spese operative annuali di 35 milioni di dollari.
La riorganizzazione prevede lo spostamento delle operazioni relative ai veicoli commerciali a Oak Park, Michigan, e l'unificazione delle attività di vendita, marketing e assistenza di Mullen e Bollinger sotto il marchio Bollinger. La gamma di veicoli commerciali elettrici dell'azienda comprende il Mullen ONE (furgone cargo di classe 1), il Mullen THREE (cab chassis di classe 3) e il Bollinger B4 (cab chassis di classe 4) con un'autonomia di 185 miglia e una capacità di carico di 7.325 libbre.
Mullen Automotive (NASDAQ: MULN) anunció una importante reestructuración corporativa, que incluye un cambio de nombre a Bollinger Innovations y la consolidación de operaciones prevista antes del 15 de agosto de 2025. La compañía ha implementado medidas significativas de reducción de costos, eliminando 155 puestos y reduciendo los gastos operativos anuales en 35 millones de dólares.
La consolidación implica trasladar las operaciones de vehículos comerciales a Oak Park, Michigan, y unificar las operaciones de ventas, marketing y servicio de Mullen y Bollinger bajo la marca Bollinger. La línea de vehículos comerciales eléctricos de la compañía incluye el Mullen ONE (furgoneta de carga clase 1), el Mullen THREE (cab chassis clase 3) y el Bollinger B4 (cab chassis clase 4) con una autonomía de 185 millas y una capacidad de carga de 7,325 libras.
Mullen Automotive (NASDAQ: MULN)는 Bollinger Innovations로 사명 변경과 2025년 8월 15일 이전에 완료될 예정인 주요 기업 구조조정을 발표했습니다. 회사는 155명의 인력 감축과 연간 운영 비용을 3,500만 달러 절감하는 대대적인 비용 절감 조치를 시행했습니다.
구조조정에는 상용차 운영을 미시간주 오크파크로 이전하고 Mullen과 Bollinger의 판매, 마케팅, 서비스 운영을 Bollinger 브랜드로 통합하는 내용이 포함됩니다. 회사의 상용 전기차 라인업에는 Mullen ONE (클래스 1 화물 밴), Mullen THREE (클래스 3 캡 섀시), 그리고 185마일 주행 거리와 7,325파운드 적재 용량을 갖춘 Bollinger B4 (클래스 4 캡 섀시)가 포함됩니다.
Mullen Automotive (NASDAQ : MULN) a annoncé une importante restructuration d'entreprise, incluant un changement de nom en Bollinger Innovations et une consolidation des opérations prévue avant le 15 août 2025. La société a mis en place des mesures significatives de réduction des coûts, supprimant 155 postes et réduisant les dépenses d'exploitation annuelles de 35 millions de dollars.
La consolidation implique le transfert des opérations de véhicules commerciaux à Oak Park, Michigan, et l'unification des opérations de vente, marketing et service de Mullen et Bollinger sous la marque Bollinger. La gamme de véhicules électriques commerciaux de la société comprend le Mullen ONE (fourgon utilitaire de classe 1), le Mullen THREE (châssis cabine de classe 3) et le Bollinger B4 (châssis cabine de classe 4) avec une autonomie de 185 miles et une capacité de charge utile de 7 325 livres.
Mullen Automotive (NASDAQ: MULN) hat eine umfassende Unternehmensrestrukturierung angekündigt, einschließlich einer Umbenennung in Bollinger Innovations und einer Konsolidierung der Geschäftstätigkeiten, die bis zum 15. August 2025 abgeschlossen sein soll. Das Unternehmen hat bedeutende Kostensenkungsmaßnahmen umgesetzt, indem 155 Stellen gestrichen und die jährlichen Betriebskosten um 35 Millionen US-Dollar reduziert wurden.
Die Konsolidierung umfasst die Verlagerung der Nutzfahrzeugaktivitäten nach Oak Park, Michigan, sowie die Zusammenführung der Vertriebs-, Marketing- und Serviceabteilungen von Mullen und Bollinger unter der Marke Bollinger. Die kommerzielle Elektrofahrzeugpalette des Unternehmens umfasst den Mullen ONE (Klasse 1 Kastenwagen), den Mullen THREE (Klasse 3 Fahrgestell mit Kabine) und den Bollinger B4 (Klasse 4 Fahrgestell mit Kabine) mit einer Reichweite von 185 Meilen und einer Nutzlastkapazität von 7.325 Pfund.
- Cost reduction of $35 million annually through operational streamlining
- Consolidation eliminates redundancy while maintaining focus on Class 1, 3, and 4 Commercial vehicle segments
- All vehicles are fully compliant with U.S. Federal Motor Vehicle Safety Standards, EPA, and CARB certifications
- Company expects significant sales orders in current fiscal quarter
- Elimination of 155 positions indicates significant workforce reduction
- Major restructuring and rebranding could create temporary operational disruptions
- Challenging market environment necessitating cost-cutting measures
Insights
Mullen's rebranding to Bollinger Innovations with major cost-cutting signals a strategic pivot toward profitability through operational consolidation.
Mullen's comprehensive restructuring plan represents a significant strategic pivot aimed at streamlining operations and reducing cash burn. The consolidation of Mullen and Bollinger operations under the Bollinger Innovations brand indicates management is prioritizing the stronger commercial vehicle segment while eliminating redundancies. Since January, the company has cut
The centralization of commercial operations in Michigan strategically positions the company closer to the heart of the American automotive industry and potential commercial customers. This consolidation appears designed to create a more focused business with unified sales, marketing, and service operations under a single brand identity. The emphasis on being "laser focused" and "fiscally responsible" suggests management is responding to investor concerns about cash burn and pathway to profitability.
The timing of this announcement, coupled with the statement about "expecting significant sales orders in the current fiscal quarter," appears calibrated to reassure investors that despite these substantial changes, the commercial outlook remains positive. However, the restructuring clearly indicates the company has been operating with substantial redundancies and excessive costs that required correction.
The company's strategic focus on Class 1, 3, and 4 commercial vehicles rather than the broader EV market shows a pragmatic shift toward market segments where Mullen/Bollinger might establish a foothold against less entrenched competition. Overall, this consolidation represents a necessary and significant realignment of resources toward sustainable operations.
Company expects to change name and NASDAQ ticker symbol prior to Aug. 15, 2025
Consolidation includes moving commercial operations to Oak Park, Michigan
Since Jan. 2025, Company has eliminated 155 positions and reduced operating expenses by a minimum of
Company expects significant sales orders in current fiscal quarter
BREA, Calif., July 15, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces the consolidation of Mullen and Bollinger Motors (“Bollinger”) operations. The Company is also updating its name to Bollinger Innovations and expects to update its NASDAQ ticker symbol prior to Aug. 15, 2025. Since January 2025, the Company has eliminated 155 positions and reduced overall operating expenses by a minimum of
Consolidation includes moving commercial vehicle operations to Oak Park, Michigan, and merging Mullen and Bollinger sales, marketing and service operations under the unified Bollinger brand. This Company-wide consolidation eliminates redundancy while continuing focus on Class 1, 3 and 4 Commercial vehicle segments.
“After the consolidation, we are laser focused and confident we will drive our products into the market while being fiscally responsible under one unified brand,” said Jim Connelly, chief revenue officer of Bollinger Motors.
“The consolidation of Mullen and Bollinger brands and operations provides the Company with significant savings in marketing, sales, engineering and operational expenses,” said Jonathon New, chief operating officer for Mullen Automotive.
“These essential measures position the Company for growth in a challenging environment while working towards becoming cash flow positive,” said David Michery, CEO and chairman of Mullen Automotive.
Mullen’s commercial EV lineup includes the Mullen ONE, Class 1 EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck, purpose-built to meet the demands of urban last-mile delivery. Both vehicles are available for sale and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency, and the California Air Resources Board (“CARB”) certifications denoting strict adherence to clean air emissions standards.
The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. Bollinger’s unique Quad-Bend chassis design protects the 158-kWh battery pack and components to offer unparalleled capability, maneuverability, and safety in the commercial market. The vehicle has a 185-mile range, 46-foot turning radius and a payload of 7,325 pounds, making it ideal for a variety of urban operations.
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. During 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive and Mullen closed on the acquisition of all of Electric Last Mile Solutions' (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana.
To learn more about the Company, visit www.MullenUSA.com.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to the timeframes and outcome of the overall consolidation efforts and cost-cutting initiatives, and the resultant impact to the Company, if any, of these measures. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com
FAQ
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