Mullen Expands into Home Service Vertical with Sale of Mullen ONE to Mr. Appliance Franchisee

Mullen Automotive, Inc. (NASDAQ: MULN), an emerging electric vehicle (EV) manufacturer, has announced the sale of its Mullen ONE All-Electric Cargo Van to Mr. Appliance® of Owings Mills, Maryland, marking a significant milestone in the company's expansion into the home service vertical. This strategic move positions Mullen to provide cost-effective, efficient transportation solutions to home service businesses, contributing to both profitability and sustainability efforts.

The Mullen ONE, with its all-electric powertrain, offers home service businesses a unique opportunity to reduce transportation expenses, improve operational efficiency, and make a positive impact on the environment. Key benefits of the Mullen ONE for home service businesses include:

1. Significant Cost Savings: The Mullen ONE's all-electric powertrain can reduce transportation costs by cutting fuel expenses up to 57% and eliminating the unpredictable fluctuations in fuel prices that burden traditional internal combustion engine vehicles.
2. Lower Maintenance Costs: The Mullen ONE offers up to 50% reduction in maintenance costs with no need for frequent oil changes or costly brake replacements typically required for gas-powered vehicles.
3. Affordable Investment: With a competitive price tag and eligibility for a $7,500 federal tax credit, the Mullen ONE is not only an environmentally responsible choice but also a financially attractive investment for home service operators.

By embracing the Mullen ONE, businesses in the home services industry can expect to see substantial savings that drive their bottom line, while contributing to sustainability efforts through the reduction of carbon emissions. The sale to Mr. Appliance of Owings Mills, Maryland, sets the stage for Mullen's expansion into this vital sector, with the Mullen ONE offering home service businesses a cost-effective, efficient solution for transportation.

David Michery, CEO and chairman of Mullen Automotive, expressed excitement about the company's venture into the home services sector, stating, "The home services sector is integral to the economy, and we're excited to help businesses in this space reduce their transportation costs with the Mullen ONE." As Mullen continues to work with more home service operators, it aims to optimize their operations and bring long-term savings to their businesses.

In conclusion, Mullen's expansion into the home service vertical, marked by the sale of the Mullen ONE to Mr. Appliance of Owings Mills, Maryland, presents an attractive opportunity for home service businesses to reduce transportation costs, improve operational efficiency, and contribute to sustainability efforts. With its competitive pricing, federal tax credit eligibility, and significant cost savings, the Mullen ONE offers a compelling investment for home service operators seeking to optimize their operations and make a positive impact on the environment.