The company has consolidated operations and reduced headcount and operating expenses, moving commercial operations to Oak Park, Michigan. Mullen operates two United States-based vehicle plants located in Tunica, Mississippi (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). The company is developing the B5 Class 5 electric commercial truck, scheduled for launch in 2026.
Cyborg Score Rationale
Mullen has achieved operational milestones including production and customer deliveries, secured federal certifications and tax credits, and maintains two manufacturing facilities. However, the company faces significant financial pressures evidenced by major cost-cutting initiatives and severe stock price depreciation (trading at $0.066 as of mid-2026). The July 2025 rebrand to Bollinger Innovations suggests strategic pivot and consolidation amid challenging market conditions.
Top Insights
Corporate name change to Bollinger Innovations Inc. became effective July 28, 2025, with NASDAQ ticker changing from MULN to BINI (July 2025)
Announced cost-saving initiatives aimed at reducing operating and investing cash flows by approximately $170 million over 12 months (April 2024)
Began commercial vehicle production in Tunica in August 2023 and received IRS approval for federal EV tax credits up to $7,500 per vehicle (September 2023)
Resolved legal claims with Bollinger Motors founder, increasing ownership stake to 95%, with CEO David Michery assuming CEO and chairman role at Bollinger Motors
Named Competitors
E-Transit — Commercial electric van for last-mile delivery
BrightDrop — Electric commercial delivery vehicle platform
Freightliner eM2 — Electric commercial medium-duty truck
Workhorse W56 — Mid-size commercial electric delivery vehicle
Recent Developments
(July 2025) Corporate rebrand to Bollinger Innovations Inc. and ticker change to BINI
(April 2024) Announced $170 million cost reduction initiative over 12 months
(August 2023) Commenced commercial EV production at Tunica facility
(September 2023) Received IRS federal EV tax credit approval for commercial vehicles
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