Mullen Automotive (NASDAQ:MULN) announced Wednesday that American electric truck maker, Bollinger Motors has received a $3 million grant from the state of Michigan aimed at promoting job creation in the state. The Michigan Strategic Fund Board approved the incentive through the Michigan Business Development Program in a unanimous decision.
“Bollinger Motors is poised for growth and we’re proud to be focused on expanding our company’s operations as we approach start-of-production,” said Robert Bollinger, founder and CEO of Bollinger Motors. “I appreciate Michigan’s faith in our plan and our product as we seek to electrify America’s fleets.”
The company will receive the grant money as they hit job creation goals over the next five years. Additionally, the award includes access to around $2 million worth of talent services and training assistance, provided through Oakland County Michigan Works.
Bollinger Motors, Inc. is an electric truck manufacturer founded in 2015. The Michigan-based automaker became a majority-owned company of Mullen Automotive in September of 2022.
Today's award comes after a string of announcements over the past few months that show the company's dedication to the region. These include partnerships with Our Next Energy in Troy, Michigan, for battery and component supply, and with Roush Industries in Livonia, Michigan, to handle vehicle assembly operations.
Shares of MULN are up 0.15% in pre-market trading on Wednesday.