MESA, Ariz., Feb. 07, 2024 (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, has signed a memorandum of understanding (MOU) with Lynx Motors to negotiate and execute an agreement to create a partnership whereby Lynx will purchase three years of unlimited Nxu EV charging for its Lynx classic vehicle customers. Lynx is reimagining classic vehicles with a vision toward modernization and electrification, allowing owners to enjoy the original character and design of a classic car with modern amenities and powertrains. The definitive agreements, once finalized, would allow Lynx to provide its customers with unlimited access to the NxuOne™ charging network, allowing them to focus more on enjoying their vehicles and less about how to charge them.

“Lynx Motors is a strategic partner we are confident will hasten the development and deployment of our EV charging solutions,” said Nxu Founder, Chairman and CEO Mark Hanchett. “As they grow their EV customer base, we learn more and more about the consumer needs and non-negotiables when it comes to charging. Providing those customers with unlimited charging demonstrates our vision in real time; that energy should be abundant, accessible and infinite, to make electric mobility viable.”

Nxu and Lynx entered into a strategic partnership in 2023 and in that role, Nxu is assisting Lynx in leveraging Nxu’s vehicle and charging technology to more quickly scale its development of electrified products.

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.

About Lynx Motors

Lynx Motors is an automotive company dedicated to the rejuvenation of timeless classics by blending tradition and innovation, with OEM-level quality standards. By redefining the driving experience for enthusiasts who seek the perfect fusion of classic design and cutting-edge technology, Lynx offers the best of both worlds. For more information, visit www.lynx.car.

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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