By Chris Wack
Mullen Automotive Inc. shares were up 9% to 73 cents after the company said it has bought a controlling interest in electric-vehicle truck company Bollinger Motors.
The company said the buy adds medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks, to its inventory.
The purchase price is $148.2 million in cash and stock for a 60% controlling interest, which gives Mullen the majority ownership of Bollinger Motors.
Bollinger Motors, founded in 2015, is an American automobile designer and manufacturer of electric sport utility and medium duty vehicle lines.
Write to Chris Wack at chris.wack@wsj.com