A prototype B4 Chassis Cab Class 4 truck at Bollinger Motors headquarters in Oak Park, Mich. (Clarence Tabb Jr./The Detroit Information/TNS)
[Stay on top of transportation news: Get TTNews in your inbox.]
Electrical truck maker Bollinger Motors Inc. will dwell on after it emerged from receivership this week with a brand new CEO and possession construction.
A federal decide early final month had ordered the Oak Park, Mich.-based firm to be overseen by the impartial third celebration amid latest monetary woes that had halted manufacturing and have been affecting its means to pay workers and make hire funds. The order got here as a part of a lawsuit filed by Robert Bollinger, the corporate’s founder and former CEO, who mentioned the truck maker owed him about $10 million. It appeared the as soon as high-flying EV startup’s decadelong run was coming to an finish with its belongings distributed to collectors.
However now court docket data and firm statements from Bollinger and its mother or father Mullen Automotive Inc. say the receiver has been eliminated and the case involving Robert Bollinger’s excellent $10 million mortgage settled.
California-based Mullen mentioned it has acquired a further 21% stake in Bollinger, bringing its possession to 95%, with Mullen’s CEO David Michery now additionally taking up as head of Bollinger. A spokesperson mentioned Bryan Chambers, the previous CEO, is now not with the corporate.
Bollinger Motors has emerged from receivership as mother or father firm Mullen Automotive settled claims and elevated possession stake.
We’re dedicated to offering our clients with a world-class product, backed by the most effective workforce within the enterprise.
Learn extra: https://t.co/t6lwpPRW9l pic.twitter.com/aQFZ9E10hX
— Bollinger Motors (@bollingermotors) June 5, 2025
“Our funding in buying the overwhelming majority of remaining shares and resolving sure vital excellent debt demonstrates our perception in and continued dedication to Bollinger’s car lineup and future,” Michery mentioned in a press release.
Bollinger began making an electrical chassis cab truck known as the B4 final yr, and a bigger model, the B5, was scheduled for launch in 2026.
A Mullen assertion on the case’s decision mentioned that Bollinger would proceed to function as an “impartial majority subsidiary, sustaining its personal model id and focus.” It added present and future Bollinger clients ought to count on “enterprise as ordinary.”
Brian Work of CloneOps.ai discusses the place AI brokers match into immediately’s provide chain workflows and what they could imply for the way forward for trucking operations. Tune in above or by going to RoadSigns.ttnews.com.
Court docket data say Mullen agreed to fund the bills of the receiver, Gene Kohut, and up to date payroll prices throughout the receivership because it resolved the corporate’s $10 million excellent mortgage from Robert Bollinger.
Whereas Bollinger Motors will dwell on, questions have been raised round Mullen’s personal troubled monetary scenario and talent to assist the truck maker going ahead. It has racked up a whole bunch of tens of millions of {dollars} in losses during the last yr, U.S. Securities and Alternate filings present. At a Detroit court docket listening to final month, Bollinger firm executives mentioned as the corporate confronted growing pressure and ran low on money in latest months, majority-owner Mullen had not offered enough assist or course to keep away from points that included halts to its manufacturing, missed funds to suppliers and landlords, and issues making 401(okay) contributions to workers.
Then-CEO Chambers additionally mentioned in early Could that the corporate had bought two of its vans within the prior month, with about 40 in stock.
“Up to now a number of weeks our message to clients and sellers is that we’re open for enterprise, targeted on our clients and optimistic about our future,” Jim Connelly, chief income officer for Bollinger Motors, mentioned in a press release. “The marketplace for business EVs is filled with alternative and we proceed to ship world-class autos to assist clients meet their fleet electrification wants.”
Michery instructed Crain’s Detroit Enterprise this week that he desires manufacturing of the corporate’s Class 4 vans to renew in 8 to 10 weeks, and promised to finally develop its present Detroit-area workers of about 85 individuals. He was not instantly accessible for an interview June 5.
