Bollinger Motors, an electric vehicle company, is stuck in heavy trouble these days. According to the news of Motor1.com, the company has been put in receiversship, that is, it can now be sold to repay the debt by selling it. This is the same company that was in discussion for its unique, square design B1 SUV and B2 pickup. But recently, he decided to focus on big commercial vehicles, B4, except these vehicles. Nevertheless, this change did not work and now the owner of the company Robert Bollinger himself has launched a case against the company over a loan of $ 1 million. Seeing all this, it seems how complicated the path of new companies making electric vehicles!
Bollinger's difficulties increased when they changed their trains and turned to business vehicles. According to reports, Robert Bollinger says that he had lent $ 1 million to the company, on which interest was to be received every month. But the company failed to pay this interest. outcome? Bollinger went to court and demanded to take possession of the company. From above, the company has more loans and a British company, Munro, has accused them of patent theft. Now the condition is such that the future of Bollinger Motors is hanging in the balance. All this shows that the business of the electric vehicle is a game of hard work and risk than glitter.
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It is not that only Bollinger is upset. Many small and big companies making electric vehicles are struggling with difficulties these days. For example, an electric taxi company named Blussmart in India suddenly stopped, causing money to get money in customers' digital wallet. Because of this, the Reserve Bank of India started investigating such companies. On the other hand, Nissan in Japan canceled the $ 110 million battery factory plan. All this suggests that it is easy to dream of building an electric vehicle, but turning it into reality? That thing is different.
But news is not bad for every company. Companies like BYD of China are also increasing in this difficult time. A Reuters report says that BYD wants to sell half of its vehicles abroad by 2030. That is, it is preparing to compete with the big auto companies of the world. On the other hand, a large company like Tesla is also facing sales falling in Europe and China. It is clear that to stay in this business, not only new technology, but also an understanding of money and market understanding.
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So overall, the story of Bollinger Motors teaches us that the business of electric vehicles is not a children's game. It needs money, hard work and right decisions at the right time. In a country like India, where the craze of electric vehicles is increasing, the government and companies will have to learn from such mistakes. If work is done in the right direction, then this industry can touch the sky. But the companies which will not be able to take new thinking and strong planning together, they will probably stay on the way like Bollinger.