Another U.S. EV Maker On The Brink Of Collapse

Another electric vehicle maker appears to be on the brink of collapse, the latest in a growing trend of EV startups failing to break through in a crowded marketplace, Ben Munson reported for the trade journal IEN.

Bollinger has now been placed in court-ordered receivership, which will determine what to do with the company’s remaining assets. I Photo: Bollinger

This time it’s Bollinger Motors, a commercial EV company founded nearly 10 years ago.

According to The Detroit News, the company—which was acquired by Mullen Automotive in 2022—has been struggling to pay employees, contribute to 401(k) accounts, and cover debts.

Those debts include a $10 million loan from founder Robert Bollinger, who earlier this year filed a lawsuit against the company, claiming it was broke and that production had stopped.

Bollinger has now been placed in court-ordered receivership, which will determine what to do with the company’s remaining assets.

The financial troubles come shortly after the company announced its B4 Chassis Cab, an all-electric Class 4 commercial truck. Production for the vehicle began last year in Michigan.

But as the report notes, sales have been sluggish for the nearly $140,000 truck, with only two units sold in the past month and about 40 remaining in inventory.

Bollinger had partnered with Roush Industries to build its B4 trucks, but production stopped in January. The company is now completely locked out of the facility after missing $1.8 million in payments.

Earlier this year, both Nikola and Canoo filed for bankruptcy. And last year, Fisker shut down.