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Mullen raises USD 150 million to produce Bollinger EV trucks and support sales efforts
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May 15, 2024
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Truck Industry Tech

Truck Industry Tech

May 15, 2024

Mullen raises USD 150 million to produce Bollinger EV trucks and support sales efforts

Funding

  • Mullen Automotive, a Net Element-owned manufacturer of commercial electric vehicles (EVs), has secured USD 150 million. The funding came from a USD 100 million commitment by an undisclosed family office and an additional USD 50 million raised by selling senior secured convertible notes to high-net-worth investors and family offices.

  • The company intends to use the funds to support Mullen's sales efforts domestically and internationally over the next 13 months.

  • Part of the capital will also be channeled toward the serial production of Mullen’s acquired EV truck maker, Bollinger's B4, a heavy-duty EV truck.

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