Bollinger Motors is facing what sounds like a financial crisis, according to two new reports.
Per The Detroit Free Press, the Oak Park, Mich.-based manufacturer of the battery-electric Class 4 medium-duty chassis has reportedly not paid its bills nor payroll for several weeks due to mounting debts.
[Related: Explore the Bollinger Motors B4 Chassis Cab like never before]
A second report from The Drive comes from an anonymous tipster and offers more details about what's allegedly happening. Bollinger's COO reportedly sent an email to employees in late October informing them the company was unable to make payroll. A follow-up employee email sent on November 6 stated the issue remained unresolved. If this is true then employees haven't been paid for at least six weeks.
The tipster's claims are no doubt troubling:
"Bollinger Motors of Oak Park, Michigan and its parent company Bollinger Innovations have completely collapsed. All Michigan based senior leadership has been forced out."
"Employees payroll is weeks behind, with nothing answers being given to employees. There is no operating cash left, and customers/dealers are being lied to."
Clean Trucking has reached out to Bollinger and will update this article if we receive a timely response.
Bollinger's troubled finances
Unfortunately, this is not the first time Bollinger has faced financial problems. Last summer, Bollinger emerged from court-ordered receivership (its assets were also frozen) following a lawsuit by founder and former CEO Robert Bollinger who claimed the company owed him $10.5 million from a personal loan he made to the company.
Calif.-based Mullen Technologies purchased a controlling interest in Bollinger back in September 2022 for $148 million and later increased that to 95% ownership last June. The move eliminated Bollinger's debt. Mullen also settled Mr. Bollinger's lawsuit which led to the dismissal of the receivership, allowing the company to resume normal operations.
Mullen Automotive, which changed its name to Bollinger Innovations in July, also purchased now-bankrupt Nikola Motors' battery assets for an undisclosed figure last January, indicating the company, at the time, was financially healthy. We also contacted Mullen/Bollinger Innovations for comment.
[Related: A quick spin in Bollinger's B4 class 4 battery-electric chassis cab]
