Mullen Automotive, Inc. (MULN) shares are experiencing another downturn on Friday, with the stock losing over 99% in the past year according to Benzinga Pro. Despite this, the company announced a promising partnership involving its subsidiary, Bollinger Motors.
Bollinger Motors has partnered with Texas Consulting & Development (TCD) to integrate the Bollinger B4 Class 4 truck into TCD’s bundled service offerings for ports and related industries. This strategic move aims to enhance TCD’s vehicle portfolio and bolster its Vehicle-to-Grid and Vehicle-to-Building technology capabilities.
The Bollinger B4 electric truck will be utilized by TCD to drive sales in the commercial & industrial (C&I), telecom, and utility sectors. This expansive approach seeks to widen Bollinger Motors’ market reach and provide comprehensive solutions to a broader range of industries.
Jim Connelly, Chief Revenue Officer of Bollinger Motors, emphasized the significance of this collaboration, stating that it presents a valuable opportunity for the Bollinger B4 to aid various industries in electrifying their vehicle fleets. He highlighted TCD’s expertise in assisting companies with carbon footprint reduction and their selection of the B4 as a cornerstone of their clean energy strategies.
Both Bollinger Motors and TCD share a common commitment to harnessing electrification technology to achieve operational efficiencies while mitigating carbon emissions across diverse industries.
Steven Villarreal, managing partner of TCD, expressed enthusiasm about the partnership, stating, “This collaboration makes sense in terms of addressing the future of EV and its aggregated potential for edge energy production – a much-needed solution for grid providers across the U.S.”
Despite this positive news, MULN shares are currently trading down by 12.37% at $0.19. This downward trend highlights the ongoing challenges faced by Mullen Automotive as it navigates the competitive landscape of the electric vehicle market.
