Nxu Announces First Product Shipment, Achieving Important Milestone on the Path Toward an Electrified Future
Technology Fully Designed and Developed by Nxu, Showcasing Strength in Execution from R&D to Commercialization
MESA, Ariz., July 31, 2023 (GLOBE NEWSWIRE) — Nxu Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a vertically integrated technology company creating energy storage and charging solutions for the infrastructure we need to power our electrified future, announced today that it has shipped its first customer product. This technology system, designed and developed by Nxu, is a key component in large-scale battery pack systems to ensure consistent performance in all operational conditions, as well as part of Nxu’s charging technology.
“At Nxu, we have always aspired to a future where electrification is accessible and abundant. Shipping our first customer product is a critical step, and we’re incredibly proud of the work our team has put in to make it happen,” said Nxu Founder, Chairman and CEO Mark Hanchett.
Continuing to address demand, the company has more than 100 positions open across corporate, engineering, and manufacturing functions. Employee benefits include health, vision, and dental insurance, 401(k), paid parental leave, flexible paid time off, leadership training, and the opportunity to work on leading edge products. More information can be found at www.nxuenergy.com/careers.
About Nxu, Inc.
Nxu, Inc. is a vertically integrated technology company leveraging its intellectual property and U.S.-manufactured battery innovations to support e-Mobility and energy storage solutions. Driving the energy future, Nxu is developing an ecosystem of industry leading battery cell and pack technologies, grid level energy storage solutions, charging infrastructure, platform and medium-duty electric mobility solutions, and over-air cloud management – encompassed by Nxu’s seamless subscription-based models. For more information, visit www.nxuenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our future areas of focus and expectations for our business. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements. Such forward-looking statements include statements regarding, among other things, Nxu’s expectations about its long term growth strategy, future growth trajectory, revenue and operations; Nxu’s technology and alignment with broader trends in the EV market; opportunities presented by electrification; beliefs about the general strength, weakness or health of Nxu’s business; and beliefs about current or future trends in EV battery materials or other markets and the impact of these trends on Nxu’s business. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at www.nxuenergy.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
CONTACT:
Media Contact
Amy O’Hara
Nxu, Inc.
[email protected]
Investor Contact
Julie Kegley
Financial Profiles, Inc.
[email protected]
310 622 8246
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