New Introductory Pricing Offers Customers Charging for 20 Cents Per kWh
MESA, Ariz., Oct. 03, 2023 -- 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, delivered more than 1.6 MWh to EV customers in the first weekend of public charging field trials. On a mission to meet the demand for more powerful, reliable, convenient charging experiences, Nxu has launched introductory 20 cents per kWh charging pricing.
Users simply need to create a Nxu One Charging profile with payment information and visit the charging station at 1828 N. Higley Road in Mesa, Ariz., to experience the Nxu One Megawatt+ Charging System, available 24 hours a day, 7 days a week. From 6 a.m. to 8 p.m., customers can access the charging lounge, which features restrooms, air conditioning, Wi-Fi and water and coffee.
“Our powerful, standard-agnostic charging technology is designed to meet the diverse needs of EV drivers. I’m happy to say that in the first few days of public charging, the Nxu One exceeded expectations,” said Nxu Founder, Chairman and CEO Mark Hanchett. “We delivered more than 1.6MWh of power and saw a utilization rate over 20 percent. We’re offering EV drivers a differentiated experience while they wait and plan to iterate on ways to make it even better in the future.”
The Nxu One Charging System is the only universal, dual-technology solution available for public charging. It is designed to support up to 4.5MW of bi-directional DC power and up to 50kW of bi-directional AC power. Nxu One adapts to any vehicle that supports CCS, charging as fast as the vehicle will allow – whether that’s a Chevy Bolt or an EV semi. A seamless cloud experience provides charging monitoring and payment solutions on your mobile device.
Additionally, Nxu charging technology is designed to ensure that the electrification of high-demand highway routes is reliable and future-proofed with consistent energy storage and megawatt+ charging capabilities. The company is making progress on its plans to secure a permanent charging location in Quartzsite, Ariz., a critical location between Phoenix and Los Angeles, looking toward possible construction in 2024.
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.
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