Nxu Strengthens Finance Team with Seasoned Accounting and Reporting Professional Jessica Murphy

Rhea-AI Summary

Nxu welcomes Jessica Murphy as Controller, bringing expertise in financial reporting and public company accounting. She will focus on enhancing financial processes and reducing operating expenses.

Positive

• Jessica Murphy's expertise will enhance financial processes and reduce operating expenses.
• Her experience in rapid-growth startup settings and newly public company settings will bring valuable expertise in financial controls and operational expenditures.

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• None.

Murphy Brings Hypergrowth Startup and Big Four Accounting Firm Experience as Nxu Focuses on Internal Efficiencies

MESA, Ariz., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Nxu Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a domestic technology company creating EV charging and energy storage solutions for the infrastructure we need to power our electrified future, is pleased to welcome Jessica Murphy, who joins the Company as Controller. Murphy’s deep experience in financial reporting and public company accounting in both rapid-growth startup settings and newly public company settings will bring valuable expertise in financial controls and operational expenditures.

“Adding Jessica’s expertise to the team is a key part of our strategy to enhance the Company’s financial processes and reduce dependencies on external resources,” said Nxu Chief Financial Officer Apoorv Dwivedi. “Jessica is part of a finance team focused on reducing operating expenses, ensuring Nxu attracts and retains investors, while thriving in this very competitive business environment.”

As Controller, Murphy, whose experience includes Leslie’s, Inc., Carvana Co. and KPMG, will be responsible for external reporting, accounting policies and practices and managing operational accounting at Nxu.

“It's clear that Nxu has ambitious, innovative plans for our electrified future, and I'm thrilled to be a part of that,” said Murphy. “I've seen the advantages of having a robust internal finance team in place and the efficiencies that creates, and I look forward to bringing my experience to bear as we decrease expenses and maximize innovation."

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 Contact
Amy O’Hara
info@nxuenergy.com

Investor Contact
Nxu, Inc.
Investors@nxuenergy.com