Mullen and Bollinger boost U.S. parts sourcing for EVs

BREA, Calif. - Mullen Automotive, Inc. (NASDAQ:MULN), an electric vehicle manufacturer, has announced that its commercial vehicles, including those from its majority-owned Bollinger Motors, are now 100% assembled in the United States. The company’s current inventory of commercial vehicles is exempt from new tariffs on vehicles and components. Mullen sources 67% of its vehicle components from U.S. suppliers, while Bollinger sources 71%. According to InvestingPro data, the company has seen significant revenue growth, though it faces challenges with a current ratio of 0.24, indicating potential liquidity constraints.

The Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck, are part of Mullen’s commercial electric vehicle lineup. Both models adhere to U.S. Federal Motor Vehicle Safety Standards and have received certification from the Environmental Protection Agency and the California Air Resources Board, indicating compliance with stringent emissions regulations.

Bollinger’s lineup features the B4 chassis cab, an all-electric Class 4 commercial truck, which began delivery to customers in October 2024. The design of the B4 is tailored for commercial use, with a focus on capability and safety, and includes a unique chassis that protects its 158-kWh battery pack.

Mullen operates two vehicle plants in the United States and started commercial vehicle production in Tunica, Mississippi, in August 2023. The company has established a commercial dealer network with seven dealers across key U.S. regions.

Bollinger Motors, acquired by Mullen in September 2022, has launched its B4 electric truck production and developed a dealer and service network with over 50 locations nationwide.

This announcement comes amid the automotive industry’s increasing focus on local sourcing and assembly to mitigate tariff impacts and supply chain disruptions. Mullen and Bollinger’s commitment to U.S. sourcing is part of their strategy to offer stable pricing and cost-effective solutions for businesses transitioning to electric fleets. InvestingPro subscribers have access to 18 additional ProTips and comprehensive financial metrics that provide deeper insights into Mullen’s operational efficiency and financial health, which currently shows an overall weak rating based on multiple factors.

The information reported is based on a press release statement from Mullen Automotive, Inc.

In other recent news, Mullen Automotive Inc. reported a record GAAP revenue of $3.18 million for the quarter ending March 31, 2025, marking a significant 189% increase from the previous fiscal year. The company also announced plans for cost-cutting measures, including staff reductions and facility eliminations, to enhance operational efficiency and boost commercial revenue. Mullen has decided to terminate its agreement with Volt Mobility, which involved the purchase of Mullen’s commercial electric vehicles for distribution in the United Arab Emirates. The reasons for this strategic shift remain undisclosed.

Additionally, Mullen has expanded its equity incentive plan and adjusted CEO David Michery’s performance stock awards, aligning them with long-term company goals. This comes after shareholder approval at the recent Annual Meeting. In legal developments, Mullen has advanced in its lawsuit alleging stock manipulation by several financial entities, with a federal judge allowing the case to proceed into the discovery phase. These recent developments highlight Mullen’s ongoing efforts to strengthen its financial position and strategic direction in the competitive electric vehicle market.

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