Bollinger Motors, the electric vehicle startup once hailed as a pioneer in the commercial EV space, has been placed into receivership following a federal court ruling last week.
The decision comes in the wake of a lawsuit filed by Robert Bollinger, the company founder and former Chief Executive Officer, who alleges the company defaulted on a $10.5 million personal loan he extended to support its production ramp-up.
The lawsuit, filed in March, claims Bollinger Motors failed to meet the terms of the high-interest loan, which carried a 15 percent annual rate.
Although a partial payment was made earlier this month, Robert Bollinger contends it was insufficient to cure the default. Compounding the issue, the company has reportedly defaulted on approximately $500,000 in credit card debt—obligations that were personally guaranteed by Robert Bollinger despite his departure from executive leadership in 2024.
The financial strain has triggered a cascade of consequences. Production of the company’s flagship Class 4 B4 Chassis Cab, which had only recently begun at Roush Industries in September 2024, has come to a complete halt. More than 40 completed B4 trucks, valued at over $5 million, remain unsold.
In a statement, Bryan Chambers, the current Chief Executive Officer of Bollinger Motors, said, “Bollinger Motors is working through the process of addressing the allegations in the pending lawsuit. Our goal is to quickly arrive at an outcome or resolution of this dispute and continue supplying a product that we believe is best-in-class. We cannot comment specifically on the allegations in the pending litigation.”
The company is also facing lawsuits from at least two suppliers over unpaid invoices, further complicating its financial outlook. The federal judge’s decision to freeze the company’s assets signals a likely move toward liquidation unless a resolution is reached swiftly.
This development places Bollinger Motors among a growing list of EV startups—including Lordstown Motors, Fisker, Canoo, and Nikola—that have struggled to maintain financial viability amid a challenging market landscape.
Despite the turmoil, Robert Bollinger has expressed hope for the company’s recovery and has assured that employee wages will continue to be paid—for now.