Expanded Manufacturing, Stock Inventories, and New Purchase Orders Featured in Mullen Update
In a significant move, Bollinger Innovations, formerly known as Mullen Automotive, has undergone a major corporate restructuring and rebranding. As of July 28, 2025, the company officially changed its name to Bollinger Innovations, Inc., and its stock ticker symbol changed from MULN to BINI.
The restructuring included consolidating commercial vehicle operations to Oak Park, Michigan, and unifying sales, marketing, and service under the Bollinger brand. This overhaul also involved significant cost-cutting measures, with the elimination of 155 positions and a reduction in annual operating expenses by $35 million.
While the company's stock price remains low, currently priced at approximately $0.066 per share, it has shown a slight increase in recent trading sessions. Bollinger Innovations continues to operate as a nano-cap stock with a market capitalization around $1.06 million and reports negative earnings. The next earnings report is scheduled for mid-August 2025.
On the production front, Bollinger Innovations is making strides in the commercial electric vehicle market. The company manufactures the Class 1 Mullen ONE cargo van, Class 3 Mullen THREE cab chassis truck, and the Class 4 Bollinger B4 chassis cab commercial truck. The B4 model, in particular, boasts a 158-kWh battery pack, a 185-mile range, and a payload capacity of 7,325 pounds. Production of commercial vehicles began in August 2023 at the 120,000 square feet facility in Tunica, Mississippi.
The company has also embraced cryptocurrency payments, now accepting Bitcoin and the $TRUMP meme coin as payment options for its commercial electric vehicles.
In addition to these developments, Bollinger Innovations has secured a purchase order from Westland Floral for two Mullen THREE Class 3 EV trucks. This addition to Westland's fleet highlights the cost-effectiveness and sustainability of EVs. Furthermore, the Mullen THREE qualifies for various state and federal incentives, offering significant savings to fleet customers.
The company has also secured additional orders for five Mullen ONE, Class 1 EV cargo vans from two California universities. The Mullen ONE EV cargo van is ideal for campus-related tasks, aligning with institutions' sustainability goals.
Bollinger Innovations is also expanding its U.S. battery production capabilities with the acquisition of additional battery line equipment from Nikola Corporation. The new assets include a high-volume battery production line and an electro-dynamic shaker system for in-house testing. Once installed, Bollinger will operate multiple high-volume and R&D battery lines, along with a full testing laboratory.
In summary, the latest developments include a company rebrand to Bollinger Innovations with relocation and consolidation of operations, cost-cutting measures, continued commercialization of multiple EV models, and acceptance of crypto as payment, while the stock remains low-priced with upcoming earnings reporting.
The corporate restructuring and rebranding of Bollinger Innovations, a significant move in the industry, also includes an expansion into cryptocurrency payments for purchasing their commercial electric vehicles. The company's focus on technology and finance is evident in their investments in battery production capabilities, aiming to reduce reliance on external suppliers.
With the acquisition of battery line equipment from Nikola Corporation, Bollinger Innovations is set to increase their domestic battery production, strengthening their position in the finance, business, and technology sectors while fostering sustainability and cost-effectiveness in their commercial electric vehicle offerings.
