Sep 20 2022

Troubled EV startup Mullen Automotive Inc. has emerged as the leading bidder for the assets of bankrupt competitor Electric Last Mile Solutions Inc., including a now-idle former Hummer SUV factory in Indiana.

Mullen agreed to a stalking horse bid of “almost $100 million in total consideration,” according to a Sept. 16 filing by the trustee in Electric Last Mile’s Chapter 7 case. Competing bids are due by Oct. 3, and an auction will be held Oct. 7.