Nxu Inc.reported several milestones in Q4 2023. The company generated quarter-over-quarter revenue growth in Q4 2023, the second consecutive quarter of revenue. The company also manufactured its first EV charging production unit for commercial use. The company confirmed several California NEVI corridor 7 sites under its control. The California Energy Commission announced the availability of up to $40.5M in grant funds for projects in NEVI corridors. The company completed a $3M public offering of common stock and issued an S-3 Shelf Registration Statement for more flexible capital raises moving forward. Nxu engaged in a strategic partnership with, and investment in, Lynx Motors, an automotive company. The company also managed its cash and debt positions and ultimately obtained an extension to become compliant with Nasdaq’s continued listing rules.
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