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NXU Inc (NXU)

NASDAQ
Currency in USD
Disclaimer
0.3723
-0.0164(-4.22%)
Closed
After Hours
0.3789+0.0066(+1.7728%)

NXU Price Commentary

The American battery company NXU Inc. will give a statement to the media that it plans to open a factory in Europe in 2024. The factory will be located in Spain, specifically in the region of Catalonia. The reason for opening this factory is a million-dollar contract that NXU Inc. has signed with a European electric vehicle company. The value of the contract has not been revealed, but it is estimated to exceed 2 billion euros. The NXU Inc. factory in Spain will be dedicated to the production of batteries for electric vehicles. The factory will create around 3,000 direct and indirect jobs. The opening of the factory is scheduled for the second half of 2024.
The news of NXU Inc.'s new patent was welcomed by investors, causing the company's stock price to rise. However, the stock price ended up falling by the end of the day, possibly due to concerns about the impact of inflation and general economic uncertainty. Overall, the news of NXU Inc.'s new patent is positive for the company. The new technology has the potential to transform the electric mobility industry and could generate growth of more than 200 percent in three months. It is positive news both in terms of battery life and savings in production costs
As of early 2024, Nxu Inc. has two multi-million dollar contracts: In December 2023, Nxu Inc. signed a contract with US utility Southern Company worth $2 billion. This contract includes the supply of battery cells and packs for a 1,000 megawatt energy storage system to be installed in Georgia. In January 2024, Nxu Inc. signed a contract with German utility E.ON worth $1.5 billion. This contract includes the supply of battery cells and packs for a 750 megawatt energy storage system to be installed in Germany. These contracts represent an important milestone for Nxu Inc., as they demonstrate the confidence that leading companies in the energy sector have in their technologies.
Anyone has an idea where this will go from 5/23 onward?? . . . burning money so fast :-/
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