$148 Million Carmaker Shuts Down Without Warning, Workers Left in Limbo

Employees at a once-promising electric vehicle startup were left stunned after the company quietly shut down operations without public warning. Bollinger Motors, an EV manufacturer valued at roughly $148 million, abruptly ceased business activity in late November, leaving workers uncertain about their jobs, paychecks, and next steps.

Internal emails obtained by media outlets show that employees were informed of the closure on the same day operations ended. Many workers learned that payroll had already been missed for multiple pay periods, intensifying concerns about unpaid wages and benefits.

The sudden nature of the shutdown has raised broader questions about transparency in the EV startup sector, where ambitious growth plans often collide with harsh financial realities.

What Happened Inside Bollinger Motors

Bollinger Motors, founded in 2015 and based in Oak Park, Michigan, initially gained attention for its rugged, boxy electric truck designs. The company later pivoted away from consumer vehicles toward commercial electric trucks, betting that fleet buyers would offer a more stable path to profitability.

Despite that shift, financial strain mounted throughout 2025. Employees reported delayed paychecks, followed by emails confirming that the company could no longer meet payroll obligations. By November 21, staff were told the company was officially closing its doors.

At the time of the shutdown, at least dozens of wage claims had reportedly been filed with Michigan labor authorities. Workers were told leadership would attempt to resolve outstanding payments, but no firm timeline was provided.

Why the Company Collapsed

Bollinger’s closure reflects deeper challenges facing the electric vehicle industry. Rising interest rates, tighter investment conditions, and high production costs have made it difficult for smaller EV manufacturers to survive without consistent outside funding.

The company also faced legal and financial pressure tied to unpaid loans, supplier disputes, and leadership changes. Its founder had previously sued the company over a multimillion-dollar loan, and Bollinger later entered and exited receivership before financial conditions worsened again.

While the company promoted bold product visions, none of its flagship consumer vehicles ever reached full production. As costs piled up and revenue failed to materialize, Bollinger ultimately ran out of runway.

What the Shutdown Means for Workers and the Industry

For employees, the closure has created immediate uncertainty around wages, healthcare coverage, and future employment. Some workers have described feeling blindsided, saying they had little indication the company was days away from shutting down completely.

More broadly, Bollinger’s collapse adds to a growing list of EV startups that have stalled or folded in recent years. Industry analysts say the market is entering a consolidation phase, where only manufacturers with scale, capital, and proven demand are likely to survive.

The shutdown serves as a reminder that while electric vehicles remain central to the future of transportation, the path to building a sustainable EV business is far more difficult than early optimism once suggested.