MESA, Ariz., July 18, 2023 (GLOBE NEWSWIRE) -- Nxu Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a U.S. technology company manufacturing innovative battery cells and battery packs for advanced energy storage systems, megawatt charging stations, and mobility solutions, today announced its successful demonstration of North American Charging Standard (NACS) capability. Following Nxu’s endorsement of the industry’s move to NACS last month, the Company further demonstrated its commitment to developing standard-agnostic charging solutions by integrating the NACS charging cable and connector into its proprietary megawatt-plus charging and energy infrastructure solutions.
Furthering its mission to accelerate mass market adoption of electric vehicles, Nxu is developing innovative megawatt-plus charging and energy infrastructure solutions. The Company’s standard-agnostic charging solutions will optimize interoperability and offer the maximum amount of power accepted by each vehicle.
“The current state of the North American charging infrastructure is inadequate to support the widespread adoption of electric vehicles and one of the most pressing issues is to meet the demand for reliable charging solutions,” said Mark Hanchett, founder, chairman, and CEO of Nxu. “At Nxu, we are seizing this opportunity to further advance electrification across a diverse set of market segments by rapidly implementing the next-generation charging solutions necessary to accelerate the adoption of electric vehicles.”
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.
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.
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