Michigan-based EV truck maker Bollinger Motors has ceased operations due to financial challenges, leading to missed payrolls for employees. The parent company, Bollinger Innovations, initiated a cost reduction plan to streamline operations and preserve liquidity, resulting in workforce reductions and office closures. The company is consolidating operations into a single location.

As part of the restructuring, Bollinger Innovations has notified its dealer networks of changes in support services, including the discontinuation of factory service and warranty support. The company is evaluating potential dealer-driven programs for parts and vehicle purchases. Bollinger Motors’ closure was announced to employees through an internal email, indicating efforts to compensate for missed payrolls.

Bollinger Motors faced payroll issues that led to 70 claims filed with the Michigan Department of Labor and Economic Opportunity. The manufacturer had a turbulent year, exiting receivership in June under Mullen Automotive’s leadership. The company pivoted focus from consumer vehicles to commercial electric trucks, but financial pressures intensified, resulting in the shutdown.

The closure of Bollinger Motors comes amidst broader consolidation in the EV space, with Mullen Automotive rebranding as Bollinger Innovations and delisting from Nasdaq. Questions arise about the future of Bollinger’s intellectual property and assets, including planned models and manufacturing relationships. The company had announced plans to move production to Mississippi before shutting down.

Read more at Yahoo Finance: Bollinger Motors shuts down amid financial woes