Bollinger Motors Faces Lawsuit by Robert Bollinger Over Unpaid Interest Payment - Financial Troubles Unresolved?
Bollinger Motors, now operating as Bollinger Innovations under the Mullen brand, has made significant strides in recent times. The company has reportedly achieved key milestones, including the launch of production for the Bollinger B4, securing regulatory certifications, expanding its dealer network, and partnering with Our Next Energy for battery supply [1][2][3].
However, the electric vehicle truck startup is currently grappling with financial difficulties. Since the beginning of the year, Mullen stock has lost 99.64% of its value [6]. The company is allegedly unable to pay its debts and is facing additional lawsuits from at least two suppliers [7]. Bollinger Motors is also sued by its founder, Robert Bollinger, for insolvency and failure to meet financial obligations [8]. The lawsuit seeks to recover a $10 million loan extended by the founder, with periodic interest-only payments of $125,000, one of which was not made on time [8].
Despite these challenges, Bollinger Innovations underwent a formal name and stock symbol change effective July 28, 2025, with the company’s common stock now trading under the symbol "BINI" on Nasdaq [5]. The company has also reduced its workforce from around 130 to approximately 100 employees [9].
In a positive development, the company has secured a strategic partnership with EO Charging for comprehensive electrification solutions for commercial fleet customers [4]. Bollinger Motors' national dealer network will offer access to EO Charging's full-service infrastructure, including charger installation, advanced management software, and 24/7 support [4]. The collaboration aims to ensure over 99% uptime for Bollinger Motors' electric trucks [4].
The company produces the B4, an electric Class 4 truck priced at $135,000, and manufactures them under contract by Roush Enterprises [10]. It is unclear how many of the built trucks have been delivered to fleet operators [5]. Production at Bollinger Motors' headquarters has been temporarily halted [11]. However, the newly appointed CEO, Bryan Chambers, has confirmed that trucks are currently being built at Bollinger Motors [12].
Robert Bollinger, the company founder, left the company in June and was replaced as CEO by James Taylor. Taylor was later replaced by Bryan Chambers [9]. At the launch of production, Robert Bollinger made a statement expressing gratitude to the team and pride in the launched electric truck [2].
The financial restructuring has reduced the company’s debt burden, simplified its capital structure, and strengthened investor confidence, helping Bollinger to meet Nasdaq listing requirements and maintain access to public capital markets [1][2][3]. This positions the company more favorably for future growth and market competitiveness.
References: 1. Bollinger Motors Secures Regulatory Certifications, Partners with Our Next Energy for Battery Supply 2. Bollinger Motors Launches Production of the Bollinger B4 3. Bollinger Motors Expands Dealer Network 4. Bollinger Motors and EO Charging Partner for Comprehensive Electrification Solutions 5. Bollinger Motors Undergoes Name and Stock Symbol Change 6. Mullen Stock Loses 99.64% of Its Value Since the Beginning of the Year 7. Bollinger Motors Faces Lawsuits from Suppliers 8. Bollinger Motors Sued by Founder for Insolvency and Failure to Meet Financial Obligations 9. CEO Changes at Bollinger Motors 10. Bollinger Motors Produces the B4 under Contract by Roush Enterprises 11. Production Halt at Bollinger Motors 12. CEO Confirms Trucks are Being Built at Bollinger Motors 13. Reverse Stock Split Approved by Shareholders 14. Bollinger Motors Acquired by Mullen Automotive
- The financial restructuring Bollinger Motors underwent has reportedly reduced their debt burden, simplified their capital structure, and strengthened investor confidence, potentially improving their competitiveness in the business and finance sectors.
- Amidst financial difficulties, Bollinger Motors has partnered with EO Charging for comprehensive electrification solutions for commercial fleet customers, aiming to ensure over 99% uptime for their electric trucks, a step that could impact the technology and lifestyle sectors.
- With the launch of the Bollinger B4, Bollinger Motors entered the market for electric-vehicles, a move that could reshape the automotive industry and have significant implications for both sports and lifestyle choices.
