Brief: Nxu Evaluates Strategic Alternatives, Announces Cost Reduction Initiatives

NXU

10/05/2024 22:53

May 10 (Reuters) - NXU Inc.  NXU.O :
    * NXU EVALUATES STRATEGIC ALTERNATIVES AND ANNOUNCES COST
REDUCTION INITIATIVES
    * NXU INC. - IN ANTICIPATION OF A COMBINATION, NXU HAS
REDUCED ITS
HEADCOUNT SIGNIFICANTLY ACROSS PRODUCT, ENGINEERING,
MANUFACTURING, AND G&A FUNCTIONS
    * NXU INC. - NXU IS UNDERTAKING NUMEROUS COST-SAVING
MEASURES TO
DECREASE OPERATING EXPENSES THROUGH CONSOLIDATION OF VENDORS AND
PRODUCT PROGRAMS
    * NXU INC. - IDENTIFIED TARGETS FOR A BUSINESS COMBINATION
INTENDED TO POSITION NEWLY COMBINED COMPANY

Source text for Eikon:  ID:nGNX2pszTj 
Further company coverage:  NXU.O 

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