Mullen terminates joint venture agreement with EVT citing multiple breaches

BOLLINGER INNOVATIONS, INC.

Terminated April 17, 2023 agreement to form Mullen Advanced Energy Operations (MAEO) for battery-life extension technology.
EVT allegedly failed to execute exclusive license, refused testing at Mullen-approved facility, and violated non-disclosure agreement.
EVT also failed to disclose third-party claims or legal actions related to the technology.
Termination effective July 10, 2023; Mullen cites numerous attempts to gain EVT compliance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. terminated a collaboration with Lawrence Hardge, Global EV Technology, Inc. and EV Technology, LLC (collectively, "EVT") (effective 2023-07-10).

Action: termination
Agreement: collaboration
Counterparty: Lawrence Hardge, Global EV Technology, Inc. and EV Technology, LLC (collectively, "EVT")
Effective: 2023-07-10

Exact text from the filing

On July 10, 2023, Mullen Automotive Inc. (the “Company” or “Mullen”), issued a termination notice to Lawrence Hardge and the following entities Global EV Technology, Inc. and EV Technology, LLC (collectively, “EVT”) terminating the Agreement dated April 17, 2023 between the Company and EVT.

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BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-011783

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