2023-08-17 17:26:42 ET
- Nxu ( NASDAQ: NXU ) said on Thursday that it had decided to shift its focus to EV charging infrastructure technology, rearranging its product roadmap to prioritize its charging technology.
- Shares of NXU jumped over 5% in after hours trading.
- NXU added that it was implementing several cost-saving measures to reduce operating expenses.
- "Amid greater economic and industry headwinds, additional cost-saving measures must be made through a furlough," NXU said in a statement .
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Nxu stock jumps after company shifts focus to EV charging technology