NxuOne™ Expands Subscription Charging Model

MESA, Ariz., May 01, 2024 (GLOBE NEWSWIRE) -- Nxu, Inc. (NASDAQ: NXU) (“Nxu” or “the Company”), a domestic technology company developing and manufacturing innovative electric vehicle (EV) charging and energy storage solutions, has expanded its EV charging subscription service. The company's commitment to delivering cutting-edge EV charging and energy storage solutions is now further manifested through a subscription option for the NxuOne™ EV Charging System, offering convenience and value to even more customers.

With the new subscription plan priced at $150 per month, subscribers gain access to unlimited charging at one of Phoenix metro's most powerful public charging stations. Nxu's proprietary technology guarantees optimal charging performance for EV users, irrespective of the vehicle's make or model. Nxu offers this superior performance at an affordable price point that won't strain your budget, especially when high inflation requires consumers to stretch every dollar.

"Our expansion of the subscription model marks a pivotal moment in our journey toward building out the NxuOne™ charging ecosystem. The positive feedback from our initial pilot users validates this service. By extending this subscription offering to all users, we are not only meeting but exceeding the evolving needs of EV drivers,” says Nxu Founder, Chairman and CEO Mark Hanchett. “As Nxu widens its network of charging stations, the subscription plan and mobile app gain greater value, offering access across the entirety of the Nxu platform."

The NxuOne™ Charging System located in Mesa, Ariz., is competitively priced at 33 cents per kWh, with subscription sign-ups conveniently available through the NxuOne™ mobile app. The app, compatible with both iOS and Android devices, ensures easy access for a wide range of users.

To explore Nxu's comprehensive EV charging solutions, visit www.nxuenergy.com or experience the NxuOne™ charging station situated at 1828 N. Higley Road, Ste 116, Mesa, Arizona 85205 24/7.

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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