EV start-up Mullen Automotive has acquired a 60% majority stake in Bollinger, another EV start-up. With a modest amount of nearly $150M, Bollinger will work toward capturing the EV SUV and commercial vehicle markets.
Bollinger will also reintroduce its two pick-ups, the B1 and B2, now that the deal is done.
Mercedes and Rivian will build electric vans in Europe. Beyond the joint effort, it could be a ticket for both companies to expand through continued collaboration.