Bollinger Motors Subsidiary's Management Shift: Mullen Takes Back the Reins

Bollinger Motors Subsidiary's Management Shift: Mullen Takes Back the Reins

In the electric vehicle (EV) revolution's relentless march forward, businesses are focusing on more than just getting their products on the road. With an ever-growing number of EVs hitting the pavement, leaders are eager to broaden their offerings while slashing costs—and it's not just electric vehicle manufacturers jumping on the bandwagon.

Mullen Grabs the Reins at Bollinger

Electric van manufacturer Mullen Automotive has upped the ante by increasing its stake in its subsidiary, Bollinger Motors, to an impressive 95%. The investment securing Mullen's majority control was announced June 2.

Initially, Mullen bought 60% of Bollinger back in September 2022. However, a lawsuit filed by Bollinger's founder, Robert Bollinger, in late April alleged that Mullen had breached an October 2024 contract regarding a $10 million secured promissory note. This led to Bollinger Motors being placed under court-appointed receivership on May 7.

According to Mullen's filing, the company will fork over $11 million to Robert Bollinger to put an end to the lawsuit and wave all claims and liabilities, plus cover the court-appointed receivership expenses from May 26 onwards. Oh, and guess who transferred their remaining shares to Mullen? Yep, you guessed it — Robert Bollinger.

David Michery, Mullen's CEO, expressed his excitement, stating, "This is a pivotal moment for Mullen Automotive and Bollinger Motors. Our investment in acquiring the bulk of remaining shares and resolving certain significant outstanding debt highlights our dedication to Bollinger's vehicle lineup and future."

Rivian Greenlights Billion-Dollar Refinance Plan

The ambitious team at Rivian Automotive is eyeing a refinance of a whopping $1.25 billion in senior secured notes due next year. Their secret weapon? Offering the exact same amount in green senior secured notes due in 2031. The expected net proceeds, combined with Rivian's pile of cash, should be enough to cover the entire refinanced amount.

Part of the reasoning behind this move revolves around a Department of Energy loan Rivian obtained earlier this year. To fund the DOE loan, which will be earmarked for Rivian's second factory, the company needs either to gain consent from its creditors or terminate, amend, or refinance its senior notes—and Rivian has chosen the latter option.

Stellantis Goes Hybrid

The world's fourth-largest automaker, Stellantis N.V., is facing roadblocks in its EV-related plans, despite aiming to have all European passenger cars and U.S. light-duty trucks sales be electric by 2030. Delays in its electric offerings have been a thorn in the company's side, including pushing the all-electric Ram 1500 REV from late 2024 to mid-2027. To counteract this, Stellantis is pivoting to hybrid vehicles for the United States.

Doug Ostermann, the company's CFO, indicated the hybrid approach will allow Stellantis to reintroduce powerful, lucrative powertrains that have been beloved by Dodge fans, as well as "real drivers" of the brand's image.

"When you think about Dodge and the fanbase that's out there, those are the powertrains they adore. And they propel the image of the brand," Ostermann declared. "I think reintroducing some of those things is going to be exhilarating for us."

One hurdle in the U.S. EV transition has been battery pricing. With SUVs and pickup trucks being the best-selling segment in America, achieving a decent range requires a larger battery, which cuts down on weight and profit. Stellantis' strategy? Range extenders.

In the upcoming RamCharger hybrid truck, the battery will be compacted, relying on an electric powertrain, but can be juiced up while the vehicle's in motion thanks to a gas-powered generator. Not exactly common in the West, extending-range EVs are entering their infancy. The last model of its kind to sell in the U.S. was the BMW i3, which was discontinued in 2022.

Blink Joins Forces for Seamless Charging

Blink Charging Co. has partnered with ChargeHub and WirelessCar to launch the Seamless Charging pilot program in North America. The initiative combines the three firms' infrastructure, app, and connection services to make charging electric vehicles a breeze.

WirelessCar focuses on digital vehicle services, such as emergency calling and toll charging, while ChargeHub operates Passport Hub, one of the most popular EV roaming services. Rather than juggling multiple apps, users can now register for ChargeHub's app, activate the "Seamless Charging" feature, and connect to any Blink Charging Station. WirelessCar's connected-vehicle data allow drivers to receive updates about payment and charging status and more.

Blink and ChargeHub have collaborated before. Last October, leaders from both companies signed an EV roaming agreement, enabling Blink Chargers to be visible in ChargeHub's network of e-mobility service providers (eMSPs) app, which has over one million users.

1. Technology, in the form of advanced software and connection services provided by WirelessCar, is being integrated into the Seamless Charging pilot program to simplify electric vehicle charging.
2. As sports vehicles gain popularity, Stellantis is leveraging technology with range extenders in hybrid vehicles like the RamCharger, aiming to appeal to passionate sports fans, particularly Dodge supporters.

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