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Failed EV Startup Bollinger Forced To Sell Off Its Assets
- Manufacturing equipment and 20 electric trucks from Bollinger will be sold.
- The Michigan Economic Development Corp is also looking to recoup $1 million.
- Bollinger’s founder recently bought back the company’s IP for two of its EVs.
While the modern era of electric cars has led to the successful establishment of several new brands, such as Rivian and Lucid, many others have tried and failed. One of them is Bollinger Motors, a small company that had wanted to launch a pair of utilitarian, electric off-roaders.
After struggling to get off the ground, Bollinger officially merged with California-based Mullen Automotive last year, but even that apparently wasn’t enough to save it. A US court recently ordered the auction of Bollinger’s assets because it had failed to pay several suppliers.
Read: Bollinger Gets A Patent For Their Unique Passthrough And Frunkgate
Key manufacturing equipment from Bollinger will be sold through an online auction. This will include battery testing and validation systems used by the car manufacturer, as well as vehicle lifts and tooling. More importantly, 20 examples of the Bollinger B4 Class 4 electric truck will be available, along with other vehicles, shop equipment, and inventory.
A Tale Of Troubles
Not only is Bollinger being forced to liquidate its assets, but the company is also being investigated by the Department of Labor and Economic Opportunity following dozens of complaints about unpaid wages or benefits.
As reported by Crains Detroit, the Michigan Economic Development Corp is also seeking to be repaid roughly $1 million of a $3 million award that was disbursed to the company in 2023. At the time, Bollinger said it’d invest $44 million into the state and create 237 jobs in Detroit.
Bollinger may not be gone forever, though. Last month, company founder and former chief executive Robert Bollinger bought back the intellectual property and prototypes of the original B1 and B2 electric off-roaders for less than $250,000. He was able to buy back these important assets after the company was ordered into receivership by a judge in Ohio. It’s unclear if Robert Bollinger plans to try to revive the B1 and B2, but he recently told The Detroit News that he believes there’s an opening in the EV market for vehicles like them.
