MESA, Ariz., Dec. 20, 2023 (GLOBE NEWSWIRE) -- Nxu, Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a domestic technology company creating innovative EV charging and energy storage solutions for the infrastructure we need to power our electrified future, is under contract to purchase a parcel of land in Barstow, Calif., a key location in California’s NEVI corridor 7. Barstow, situated where Interstate 15 and Interstate 40 intersect, is perfectly located in a major highway corridor, making it ideal for Nxu’s pursuit of electrifying high-demand highway routes with reliable and consistent charging solutions.
National Electric Vehicle Infrastructure (NEVI) corridor 7 is one of the six corridor groups included in round 1 of the California Energy Commission’s NEVI Formula Program, which has announced the availability of up to $40,500,000 in grant funds for projects that will strategically deploy high-powered, direct-current fast charger electric vehicle charging infrastructure.
“As EV adoption grows, infrastructure needs to catch up. While we’ve been working tirelessly to fulfill the necessity for high-quality EV infrastructure, we’re thankful our goals are aligned with NEVI,” said Nxu Founder, Chairman and CEO Mark Hanchett. “We continue to deepen our relationships with CalTrans and the California Energy Commission, as we continue to secure sites in California. We look forward to the exciting work ahead, electrifying the highways increasingly trafficked with EVs every day.”
NxuOne™ EV Charging Solutions enable powerful, standard-agnostic charging, giving all EV users exactly the power they need, when they need it. EV drivers can expect a consistent, reliable charging experience with NxuOne™ EV Charging Solutions. Nxu previously announced Quartzsite, Ariz. as its first highway charging location and anticipates breaking ground in 2024. Additional California sites under contract include Tehachapi and North Edwards.
Businesses interested in securing their own NxuOne™ EV Charging Solutions, whether to power their own EV fleets or to contribute to the much-needed EV charging infrastructure more and more consumers are demanding every day, can learn more at: https://nxuenergy.com/charging-station-sales
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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