Bollinger Motors, a Michigan-based electric vehicle (EV) startup focused on commercial trucks, has been placed into receivership following a court ruling, signaling severe financial distress for the company that raised $148 million but produced only 40 trucks. According to Automotive News, a Michigan judge granted founder Robert Bollinger’s request to freeze the company’s assets after its owner, Mullen Automotive, failed to attend a hearing tied to a $10.5 million unpaid loan lawsuit.

From Off-Road Dreams to Commercial Focus

Founded in upstate New York and later based in Detroit, Bollinger Motors initially aimed to capture the consumer market with rugged EVs like the B1 SUV and B2 pickup. The company pivoted to commercial vehicles, introducing the Deliver-E van and the B4 chassis cab truck, designed for fleet operators. Production of the B4 began in 2023, with plans for a long-wheelbase B5 model by 2026. However, with only 40 B4 units built and most unsold, the company’s ambitions have been stalled by financial woes.

Financial Collapse and Legal Battles

Bollinger Motors’ troubles escalated when Robert Bollinger, who left the company in 2024, sued Mullen Automotive for defaulting on a $10.5 million personal loan he provided, according to The Drive. The startup also faces lawsuits from two suppliers and defaulted on $500,000 in credit card debt, which Bollinger personally guaranteed, leading to his own credit cards being denied. Michigan’s $3 million investment in the company has yielded little return, and Mullen Automotive, now a shareholder but no longer managing operations, has left Bollinger Motors without funds. The receivership ruling paves the way for potential liquidation, threatening the company’s 100 employees and its unfinished B5 project.

Bollinger Motors Faces Receivership As $148M Electric Truck Startup Struggles

Technical and Operational Fallout

The B4, Bollinger’s flagship commercial truck, is an all-electric chassis cab designed for versatility in fleet applications, boasting a range of approximately 200 miles (322 kilometers) and a payload capacity of up to 7,000 pounds (3,175 kilograms). Despite its promise, limited production and sales reflect broader challenges in scaling EV manufacturing. The planned B5, with an extended wheelbase for larger fleets, may never reach production if liquidation proceeds. The company’s collapse highlights the high capital demands and long timelines of EV development, particularly for startups competing with established players like Ford and Rivian.

Industry Trends and Implications

Bollinger’s struggles underscore the volatility of the EV startup landscape. High-profile failures like Lordstown Motors and Arrival reflect the risks of overambitious goals amid tight funding and supply chain constraints. For fleet operators, Bollinger’s uncertain future could disrupt plans to electrify, pushing them toward competitors with more stable production. Regulatory pressures, such as the EPA’s push for zero-emission vehicles by 2030, may further strain smaller players unable to meet demand. Economically, the loss of Bollinger could impact Michigan’s EV ecosystem, which has leaned on state incentives to foster growth.

Leadership’s Optimism Amid Crisis

Despite the dire situation, Bollinger Motors’ leadership remains hopeful. “During this period, we are focused on moving forward and remain committed to bringing our customers a world-class vehicle,” CEO Bryan Chambers told Automotive News. Founder Robert Bollinger, despite his legal battles, praised Mullen’s past support: “Mullen did an amazing job of funding us and getting us to where we are.” He has also personally committed to covering employee salaries short-term, expressing a desire for the company to survive.

Uncertain Path Forward

With assets frozen and liquidation looming, Bollinger Motors’ future hangs in the balance. The company’s $148 million journey, marked by bold pivots and unmet goals, serves as a cautionary tale for EV startups. For commercial fleet operators and EV enthusiasts, Bollinger’s potential exit could narrow options in a growing but fiercely competitive market.

Photos courtesy of Bollinger Motors