Bollinger's B4 takes shape and hits the road

It's not a sure bet that Bollinger Motors' strategy of using mostly off-the-shelf parts with its first product, a commercial class 4 electric truck for fleets, will be a long-term financial success.

But at least one thing is certain: Flush with $148 million in cash from last fall's sale of a controlling interest to California's Mullen Automotive, the suburban Detroit automaker is moving forward at a much faster pace than it ever has.

Company founder Robert Bollinger has remained in charge of the upstart automaker and has recruited experienced automotive veterans from Ford and elsewhere to help finish developing and testing the B4 so that it can be handed off to Roush Industries for manufacturing.

I stopped by Bollinger's technical center in Oak Park, just north of Detroit, last week and took a few laps around the parking lot in a B4 development mule. Bollinger drove the eerily silent truck which performed admirably in slow speed maneuvers. About a year ago, Bollinger had only the frame and a few other components. And Robert Bollinger was spending much of his time courting potential investors, and resisting the urge to spin off the company in a SPAC deal.

"One half of my brain was always worrying about money," Bollinger says. "Now, that's freed up. I'm the CEO, and all the day-to-day operations go through me."

The Mullen deal, Bollinger says, created a board of directors that helps manage the company and has brought other resources, such as Mullen's sales and engineering teams. Mullen also snapped up the carcass of Electric Last Mile Solutions, a commercial EV startup that went bust last year.

As for the B4, it will be powered by an electric drive unit made by Dana, installed in a frame designed by Bollinger, and powered by a battery pack sourced from Our Next Energy, a Novi, Mich., outfit run by a former Ford and Apple executive. The cab is a fully assembled unit that is made in China and mounted onto Bollinger's frame.

If the truck passes road testing and durability trials now underway, production could start in about a year.

Larger class 5 and class 6 trucks are also in the works. Bollinger is banking on the potential savings for fleet operators running electric trucks to kickstart demand and start to end the dominance of diesel-powered trucks.

Part of the Inflation Reduction Act, the Qualified Commercial Clean Vehicle tax credit, provides fleet operators with up to a $40,000 credit for each medium and heavy duty truck they purchase. Couple that to reducing demand for diesel fuel and lower maintenance costs and Bollinger believes that some operators might see a payback on the premium paid for the electric truck in less than a year. "The total cost of ownership is going to be less than diesel trucks, so that's why we're moving fast forward. We'll get payback before a diesel truck," Bollinger says.

Prices and range have not been finalized, but Bollinger knows that the truck will have to be able to go around 100 miles between charges. "Most fleet folks we talked to say they need between 75 and 100 miles. In our simulations, we are getting about 185 miles. But in adverse conditions, such as when it is cold out or the truck's air conditioner is running all day, we should still get 110- 120 miles," Bollinger said.

A lot still has to go right for Bollinger Motors to succeed and competition is tough. But, in my view, Bollinger Motors now has a legitimate shot. I couldn't say that a year ago.