Advertisement
U.S. markets closed
  • S&P 500

    4,594.63
    +26.83 (+0.59%)
     
  • Dow 30

    36,245.50
    +294.61 (+0.82%)
     
  • Nasdaq

    14,305.03
    +78.81 (+0.55%)
     
  • Russell 2000

    1,862.64
    +53.62 (+2.96%)
     
  • Crude Oil

    74.38
    -1.58 (-2.08%)
     
  • Gold

    2,091.70
    +34.50 (+1.68%)
     
  • Silver

    25.90
    +0.24 (+0.92%)
     
  • EUR/USD

    1.0885
    -0.0008 (-0.08%)
     
  • 10-Yr Bond

    4.2260
    -0.1260 (-2.90%)
     
  • GBP/USD

    1.2714
    +0.0086 (+0.68%)
     
  • USD/JPY

    146.7610
    -1.4040 (-0.95%)
     
  • Bitcoin USD

    38,775.24
    +656.91 (+1.72%)
     
  • CMC Crypto 200

    802.76
    +11.20 (+1.41%)
     
  • FTSE 100

    7,529.35
    +75.60 (+1.01%)
     
  • Nikkei 225

    33,431.51
    -55.38 (-0.17%)
     

Mullen Automotive Takes Controlling Stake In Bollinger Motors, Marking Its First EV Acquisition

  • Mullen Automotive Inc (NASDAQ: MULNhas acquired a controlling interest in EV truck innovator Bollinger Motors Inc.

  • The purchase price is $148.2 million in cash and stock for a 60% controlling interest, giving Mullen the majority ownership of Bollinger Motors.

  • The acquisition is MULN's first EV acquisition, propelling it into the medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks.

  • Also ReadMullen Automotive Opens Automotive EV Development Center In California

  • Bollinger designs and manufactures electric sport utility and medium duty vehicle lines in addition to developing proprietary vehicle battery packs, drivetrains, and thermal and vehicle control software units.

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

  • Price Action: MULN shares are trading higher by 2.96% at $0.69 on the last check Thursday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement