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Mullen acquired Bollinger shares worth IDR 2.2 trillion

 Mullen Automotive is reported to have acquired a majority of Bollinger Motors' shares of 60 percent for US$148.2 million 

(equivalent to Rp. 2.2 trillion) to revive the pending B1 and B2.



Reported by CarsCoops, on Thursday (8/9), Mullen CEO David Michery said that the move positions Bollinger to capture the electric sports utility and commercial vehicle market.

"This acquisition is one of the largest in the EV industry to date and provides Mullen with a unique opportunity to aggressively expand into the commercial EV space with high demand," said David Michery.

He also continued that combining Bollinger vehicles with the existing Class 1 and Class 2 EV cargo van programs provides the company with an opportunity to dominate the entire Class 1-6 light and medium commercial truck segment.

Additionally, Bollinger will be able to leverage Mullen's solid-state battery technology, making their current vehicles even more competitive once the technology is rolled out across Mullen and Bollinger's EV portfolio.

As Mullen explained, with the acquisition and injection of capital, the B1 and B2 programs will commence after the start of production for the Class 3-6 commercial truck program.

Bollinger Motors CEO Robert Bollinger stated, "Mullen shares a dream to build the very best EV cars and trucks. This partnership will bring us closer to realizing that vision, as it allows us to increase production on our end and take Mullen's EV program to more markets." fast," he said.

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