Mullen Automotive Inc. is merging with its subsidiary business Bollinger Motors and will change its name to Bollinger Innovations by Aug. 15.
The EV maker, currently based in Brea, will move the consolidated operations to Oak Park, Michigan and said this will eliminate “redundancy while continuing focus on Class 1, 3 and 4 Commercial vehicle segments.”
Chief Revenue Officer Jim Connelly said in a statement that the merger will allow the “unified brand” to be fiscally responsible.
“The consolidation of Mullen and Bollinger brands and operations provides the company with significant savings in marketing, sales, engineering and operational expenses,” Chief Operating Officer Jonathon New added.
The move comes after Mullen (Nasdaq: MULN) increased its investment in Bollinger Motors and became a 95% owner in June.
Mullen also reported the elimination of 155 positions since January 2025 and said it has “reduced overall operating expenses by a minimum of $35 million annually.”
Shares were down 4.9% to 11 cents apiece during midday trading with a market cap of $1.2 million.