Nxu, Inc. Announces Third Quarter 2023 Financial Results
November 13 2023 - 6:45AM
Nxu, Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a domestic
technology company developing and manufacturing innovative EV
charging and energy storage solutions for the infrastructure we
need to power our electrified future, today announced financial
results for the quarter ended September 30, 2023. Nxu’s complete
third quarter 2023 financial results and management commentary can
be found by accessing the Company’s shareholder letter on the
Investor Relations page of the Company’s website.
“We successfully launched our Nxu One Megawatt+ Charging System
in the third quarter, delivering the superior, powerful EV charging
experience customers want and need. This was a pivotal quarter for
us, transitioning from a development company to a
revenue-generating company offering innovative products in pursuit
of an electrified future. We’re immensely proud to report revenue
this quarter for the first time in the Company’s history – a goal
we’ve worked hard to achieve, despite numerous challenges,” said
Nxu Founder, Chairman and CEO Mark Hanchett. “As we grow our reach,
extend our network of charging stations, continuously innovate our
technology, and invest in our teams, we look forward to exceeding
the expectations of our customers with a consistent, reliable, and
convenient experience, while staying focused on cost efficiency and
optimizing capital.”
Nxu will host a Town Hall on Wednesday, November 15, 2023,
during which the Nxu executive team will provide an overview of
third quarter results. The Town Hall will be available on the
Company’s YouTube channel at 7:30 p.m. ET / 4:30 p.m. PT on
November 15, 2023.
About Nxu, Inc. Nxu, Inc.
is a domestic technology company leveraging its intellectual
property and innovations to support e-Mobility and energy
storage solutions. Driving the energy future, Nxu is
developing an ecosystem of industry-leading grid level energy
storage solutions, charging infrastructure 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
Contactinfo@nxuenergy.com
Investor
Contact Investors@nxuenergy.com
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