Nxu Expands Arizona Presence with Acquisition of HQ Facility

Rhea-AI Summary

Nxu Inc. has announced the expansion of its manufacturing capabilities in the Phoenix metropolitan area, allowing it to more than double its manufacturing footprint. The new headquarters in Tempe, AZ will house Nxu's corporate headquarters and increase its total footprint to approximately 63,000 square feet. The expansion aims to meet the growing demand for the company's battery and energy storage solutions.

Expansion effectively doubles manufacturing footprint to meet growing demand for US-manufactured energy solutions; First major product delivery slated for third quarter 2023

MESA, Ariz., July 05, 2023 (GLOBE NEWSWIRE) -- Nxu Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a US-operated technology company manufacturing innovative battery cells and battery packs for use in advanced energy storage systems, megawatt charging stations, and mobility solutions, today announced it has secured a second location (“Headquarters”) in the Phoenix metropolitan area, allowing it to more than double its manufacturing capability in its original building. The approximately 21,000 square foot facility located in Tempe, AZ will house Nxu’s corporate headquarters, allowing the company to expand its manufacturing capabilities at the original Mesa facility. With the addition of its new headquarters, Nxu’s total footprint increases to approximately 63,000 square feet, with nearly two-thirds dedicated to manufacturing under one roof in Mesa.

Nxu’s CEO and Founder Mark Hanchett, commented, “Expanding our manufacturing capacity provides the Company with greater capabilities and efficiencies to meet the growing demand for our battery and energy storage solutions. As announced in April, we are on track to ship our first battery packs to a customer in the second half of this year. The increase in our footprint here in Arizona supports our commitment to proudly develop and manufacture game-changing technology products right here in the U.S.A.”

The new office facility is located at 63 S. Rockford Drive, Tempe, Ariz. and will house up to 155 employees across multiple teams. Currently, Nxu has several positions open in both Tempe and Mesa 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 by following this link: https://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 achievement 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: 
Mary Trout 
Nxu, Inc. 
info@nxuenergy.com 

Laura Guerrant-Oiye 
Financial Profiles, Inc. 
nxu@finprofiles.com 
(310) 622-8250 

FAQ

What did Nxu Inc. announce?

Nxu Inc. announced the expansion of its manufacturing capabilities in the Phoenix metropolitan area.

Where is the new headquarters located?

The new headquarters is located in Tempe, AZ.

What is the total footprint of Nxu Inc. after the expansion?

The total footprint of Nxu Inc. increases to approximately 63,000 square feet after the expansion.

What is the purpose of the expansion?

The expansion aims to meet the growing demand for Nxu Inc.'s battery and energy storage solutions.

Are there any job openings at Nxu Inc.?

Yes, Nxu Inc. currently has several positions open in both Tempe and Mesa across corporate, engineering, and manufacturing functions.

What are the employee benefits at Nxu Inc.?

Employee benefits at Nxu Inc. 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.