Nxu Inc. set for field trials of electric vehicle charging system
Nxu Inc. is launching public field trials of its electric vehicle charging system in Mesa, a move that marks the company’s latest product pivot in a path toward profitability.
Tempe-based Nxu (Nasdaq: NXU) will begin field trials of its Nxu One charging system on Sept. 28 at its Mesa manufacturing facility at 1828 N. Higley Road.
Nxu One has a charging rate of more than 700 kilowatts and is compatible with nearly all forms of electric vehicles, including Teslas. It’s designed to support up to 4.5 megawatts of bi-directional DC power and up to 50 kilowatts of bi-directional AC power. Electric vehicle owners can pay for charging and monitor progress via their mobile devices, according to the company.
“The emphasis that we’re aiming for is consistency repeatability and experience, meaning it works every time and you get all the power you request,” Mark Hanchett, Nxu’s founder and CEO, told the Business Journal. “On top of that, it’s about more than just the charger. It’s about what other amenities and solutions we’re providing.”
Nxu is supplying a lounge with snacks, water, a seating area and WiFi for electric vehicle owners waiting for their cars to charge. The lounge, which is outside of the company’s Mesa manufacturing facility, is open daily from 6 a.m. to 8 p.m.
“It’s really about what the charging experience should be,” Hanchett said. “This is one of the first locations where we are testing this concept out.”
Nxu to build EV charging system near Quartzsite
Last week, Nxu announced it is under contract to buy land near Quartzsite for its first Nxu One megawatt charging site.
Nxu anticipates beginning construction on the site — which is off Interstate 10 about two hours west of downtown Phoenix — in 2024.
Hanchett declined to disclose details regarding the potential size and opening date of the charging site near Quartzsite, but he stated it would fill a growing need for electric vehicle charging infrastructure between Phoenix and Los Angeles.
Nxu is developing its electric vehicle charging systems with a box design and will later move to a pedestal unit design — similar to a Tesla Supercharger. Later, it plans to develop the Nxu Quad, a waiting area with seating and facilities for electric vehicle users, according to a September investor presentation.
The Quad will likely be part of Nxu’s charging system site near Quartzsite, Hanchett said.
“Our focus will be on the experience at that location. It’s not just about plugging a charging unit into a parking lot. It’s about what are you doing while there?,” Hanchett said. “… We’ve removed the bottleneck on the charging side and we want people to step out and relax. We want to provide them with that experience.”
Nxu envisions the Quartzsite electric vehicle charging site to be the first of many planned throughout the Southwest highway corridors, Hanchett said.
“Our focus is going to be along those highway travel corridors — whether that’s in Phoenix, Southern California or Las Vegas,” he said.
Nxu indicated in its September investor presentation it plans to have 1,900 charging stations in service by 2030.
The company plans to roll out pay-for-use electric vehicle charging systems and later adopt a subscription-based access model to generate recurring revenue. The company is projecting revenue of $64 million via four charging sites in 2024 and more than $1.9 billion in revenue from 120 charging sites by 2028, according to its investor presentation.
Nxu narrows focus to EV charging stations
Nxu, formerly Atlis Motor Vehicles, rebranded in May to reflect its focus on electric vehicle batteries and charging systems.
Nxu had previously gone all in on development of its highly touted XT electric truck, and in 2022 Hanchett had promised shareholders that the company would move into profitability that year, although it had also planned from the beginning to build batteries and infrastructure to support electric vehicles.
Upon rebranding, Nxu said it would begin manufacturing batteries and battery packs. In June, the company shipped a battery pack technology system to an undisclosed customer.
In August, Nxu indicated it’s shifting focus to building EV charging infrastructure in a move to put it “on the path to near-term revenue generation” while addressing the worldwide charging station shortage.
“Most of our focus — 90% — is on electric vehicle charging and infrastructure,” Hanchett said. “Battery pack development programs are still ongoing based on market conditions but the need has shifted toward charging and infrastructure. That’s what the market needs today.”
Last month, Nxu furloughed 60 employees as part of a cost-cutting measure after an unprofitable second quarter.
Hanchett declined to comment on the furlough but expressed his appreciation for impacted employees. He said the company may reevaluate bringing some furloughed employees back in the future. As of Sept 18, Nxu had 41 employees.