Nxu Maintains Strong Momentum Towards 2023 Hiring Goal; Achieves 62% Year-to-Date Headcount Growth

• Substantial expansion highlights Nxu's commitment to investing in top-tier talent
• Growing team will drive the company from research and development to commercialization on path to first customer delivery this summer

MESA, Ariz., July 11, 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 announces substantial progress towards 2023 hiring goals, underscoring the Company’s steadfast commitment to investing in top-tier talent.

The company has expanded its operations team by welcoming 52 individuals, along with 24 highly skilled Engineers specializing in Mechanical, Hardware, Software, and Test and Validation disciplines. Additionally, 14 corporate and leadership personnel have joined Nxu, further bolstering its capabilities. With this remarkable growth, Nxu is well-positioned to achieve its goal of delivering customer packs this summer while continuously driving value for its shareholders.

Mark Hanchett, Founder and CEO of Nxu, expressed his enthusiasm, stating, “At Nxu, we are tirelessly dedicated to developing and deploying sustainable energy technologies. We envision a future where energy is abundant, accessible, and infinite, and are actively working as a team to make this future a reality. This year’s rapid expansion exemplifies our ability to attract exceptional talent who are aligned with this mission.”

With the goal to double in size this year, Nxu has several positions open 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. For more information, please visit: 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 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: 
Mary Trout 
Nxu, Inc. 
info@nxuenergy.com