Mullen Automotive, an emerging electric vehicle manufacturer, has acquired EV company ELMS’s (Electric Last Mile Solutions) assets in an all cash purchase.
The acquisition includes the factory in Mishawaka, Indiana, providing Mullen with the capability to produce up to 50,000 vehicles per year. Mullen said the deal also allows acceleration of the path to production and market for Mullen FIVE and Bollinger B1, B2 retail vehicles by 12 plus months.
The Mishawaka factory previously produced General Motors Hummer H2 SUV and SUT and also subsequently contract manufactured the Mercedes-Benz R-Class vehicle.
Manufacturing optimization will include moving the Mullen FIVE EV Crossover production to the Mishawaka Factory from the Tunica, Mississippi facility. Mullen FIVE production is planned to begin production in 2024. Tunica will now become the Commercial Manufacturing Center and capitalize to produce all Mullen and Bollinger Class 1 to 6 commercial vehicles.
With the additional manufacturing capacity, total production volumes are expected to exceed Mullen’s previous business plan projections. The commercial portfolio is expected to increase over 50% with the addition of the ELMS assets and the retail portfolio is expected to more than double with the addition of Bollinger vehicles and the manufacturing capacity of Mishawaka.
