Accelerating Treep Mobility's Transformation from Fuel-Powered Vehicles to EVs Following Successful Pilot Deployment SHANGHAI , Sept. 22, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of AI-powered solutions for next-generation energy grids and intelligent transportation systems, building on its proprietary UOTTATM electric vehicle (EV) battery-swapping technology, today announced that it has signed an initial sales agreement with Treep Mobility Group S.A.C. ...

Core Viewpoint - U Power Limited has signed a Memorandum of Understanding (MOU) with SAIC Hongyan and UNEX EV to deploy battery-swapping compatible electric heavy trucks in Thailand, addressing the demand for green and sustainable transportation solutions in the logistics industry [1][2]. Group 1: Partnership Details - The collaboration involves deploying 3,000 electric heavy-duty tractors for long-haul transportation and 1,200 electric heavy-duty port-specific short-distance trucks in Thailand [2]. - U Power will lead the development and manufacture of battery-swapping stations and provide operational services, while UNEX EV will adapt SAIC Hongyan's heavy trucks for battery swapping and promote sales in Thailand [3]. - SAIC Hongyan will supply heavy truck prototypes and provide technical support to ensure compatibility with U Power's battery-swapping stations [3]. Group 2: Market Focus and Expansion - The initiative aims to promote the adoption of green commercial heavy trucks in Thailand, focusing on major highway transportation enterprises and container port operators [4]. - The partnership is exploring expansion opportunities into additional markets, including Southeast Asia, Latin America, Europe, Hong Kong SAR, and Macau SAR [2]. Group 3: Strategic Insights - The collaboration reflects a shared commitment to accelerating the shift toward zero-emission logistics, with a focus on creating a scalable and sustainable heavy truck electrification model [5]. - U Power has previously launched Southeast Asia's first operational smart battery-swapping station in Phuket, Thailand, and aims to enhance its presence in the Thailand market [5].

Core Viewpoint - U Power Limited and its partner UNEX EV are collaborating with Didi Mobility to deploy battery-swapping electric vehicles in Mexico, aiming to enhance the green transformation of the transportation industry and promote energy efficiency [1][2][6]. Company Overview - U Power Limited specializes in AI-powered solutions for energy grids and intelligent transportation systems, focusing on its proprietary UOTTATM battery-swapping technology [1][9]. - UNEX EV is a strategic partner of U Power, responsible for the deployment of battery-swapping vehicles [1][2]. Industry Context - The transportation sector in Mexico is undergoing significant changes, with a focus on electrification and sustainable practices, as it accounts for nearly 25% of national greenhouse gas emissions [4]. - The Mexican ride-hailing market is projected to grow from $2.2 billion in 2024 to $7.5 billion by 2033, driven by a young population and increasing demand for sustainable transportation [5]. Strategic Initiatives - The Letter of Intent (LOI) between UNEX EV and Didi Mobility aims to promote the sales of battery-swapping vehicles and related services to drivers on Didi's platform in Mexico [2][3]. - Both companies plan to establish a stable supply chain for vehicle delivery and spare parts, while also focusing on battery recycling and extending battery life through technology innovation [3]. Market Opportunities - The shift to electric mobility in Mexico is supported by government initiatives, including the electrification of public transport and the introduction of low-cost EVs [4]. - EVs are expected to represent 30-40% of new ride-hailing and taxi vehicle purchases by 2027, indicating a growing market for electric vehicles [5]. Leadership Perspective - The CEO of U Power expressed enthusiasm for the partnership with Didi Mobility, highlighting the alignment with Mexico's national mobility goals and the global shift towards zero-emission transportation [6]. - U Power aims to capitalize on the increasing demand for electric vehicles and smart mobility solutions while contributing to Latin America's decarbonization efforts [6].

Core Viewpoint - The partnership between U Power, Chia Tai, and ICBC Thai aims to accelerate the digitalization and smart transformation of Thailand's agricultural sector through the introduction of battery-swapping-compatible drones for various farming applications [3][7]. Company Overview - U Power Limited specializes in AI-powered solutions for energy grids and intelligent transportation systems, focusing on electric vehicle (EV) battery-swapping technology [1][11]. - Chia Tai Co., Ltd. is a leading agribusiness company in Thailand, providing a range of agricultural products and services since 1921 [9]. - ICBC (Thai) Leasing Co., Ltd. offers financial leasing solutions for vehicles and equipment, supporting the agricultural sector's financial needs [10]. Partnership Details - The collaboration will develop a drone platform to promote the use of agricultural drones, enhancing sustainable farming practices through technology [2][3]. - U Power will provide customized battery modules and technical support, while Chia Tai will supply drones and lead customer acquisition efforts [4][5]. - ICBC Thai will offer tailored financial solutions to facilitate the platform's adoption among users [5][6]. Market Potential - The Thai agriculture robot market, including drones, was valued at approximately $207.35 million in 2024 and is projected to reach $1.3 billion by 2032, growing at a CAGR of ~30.4% [7]. - The APAC agriculture drone market is expected to reach nearly $49 billion by 2034, indicating significant growth opportunities for the involved companies [7]. Implementation Strategy - Following the MOU, pilot programs will be launched to validate operational capabilities of the drones in select farms [6]. - U Power plans to continuously upgrade the platform based on operational data insights, enhancing its performance and adaptability [4].

Core Insights - U Power Limited has signed a Letter of Intent (LOI) with a Hong Kong-based dashcam manufacturer to deploy battery-swapping compatible electric vehicles (EVs) in the market [1][2] - The client will purchase 300 MGEP swappable-battery compatible EVs, with an initial deposit already submitted [2] - The deployment of these vehicles will utilize U Power's first smart battery-swapping station in Hong Kong, allowing drivers to earn tokens for battery swaps, which can be redeemed for electricity tariff credits [3] Company Developments - U Power's CEO highlighted the significance of this partnership as a milestone in promoting battery-swapping EVs in Hong Kong, emphasizing the company's technological leadership and market presence [4] - The company aims to transform its global partnerships into diversified revenue streams, not only from the sale of smart stations but also from battery-swapping services [4] - U Power is committed to driving innovation and delivering efficient mobility solutions as it expands in Hong Kong and other strategic markets [4] Industry Context - U Power is positioned as a provider of AI-integrated energy solutions that enhance the performance of both electric vehicles and energy grids [5] - The company is focused on building intelligent ecosystems that leverage AI to optimize energy replenishment and support autonomous EV driving [6] - U Power's solutions are designed to facilitate peak and off-peak energy load balancing, contributing to a more sustainable energy infrastructure [6]

Exploring Similar Cooperation Models for Other Regions Including Thailand and Portugal About BOCOM International Holdings Company Limited BOCOM International Holdings Company Limited (HKEX:3329) is an investment holding company, provides securities brokerage, margin financing, corporate finance and underwriting, investment and loans, asset management, and advisory businesses. It is the only integrated platform for securities and related financial services of Bank of Communications Co., Ltd. in Hong Kong, on ...

Core Viewpoint - U Power Limited has entered into a securities purchase agreement to sell 551,628 Class A ordinary shares and warrants to an institutional investor, aiming to raise approximately $1.4 million through this offering [1][2]. Group 1: Offering Details - The offering price for each Class A ordinary share and accompanying warrant is set at $2.50, with the warrants being immediately exercisable and expiring five years from issuance [1]. - The gross proceeds from the registered direct offering and concurrent private placement are estimated to be around $1.4 million before deducting fees and expenses [2]. - The offering is expected to close on or about July 25, 2025, pending customary closing conditions [2]. Group 2: Regulatory Information - The Class A ordinary shares are being offered under a shelf registration statement on Form F-3, which was declared effective by the SEC on November 8, 2024 [3]. - The warrants issued in the private placement have not been registered under the Securities Act or applicable state securities laws [3]. Group 3: Company Overview - U Power is a provider of AI-integrated energy solutions that connect electric vehicles (EVs) with advanced energy infrastructure, focusing on optimizing mobility and grid performance [5]. - The company has evolved from a distributor of battery-swapping stations to a provider of comprehensive AI-integrated solutions for energy grids and transportation systems [5]. - U Power is building intelligent ecosystems that integrate AI-driven solutions to transform EVs into dynamic energy assets, supporting autonomous driving and optimizing energy replenishment efficiency [6].

Core Viewpoint - U Power aims to revolutionize Hong Kong's outdated taxi fleet by introducing battery swapping technology, addressing the low adoption rate of electric vehicles (EVs) in the commercial vehicle sector [1][3][4]. Market Opportunity - In Hong Kong, only 4% of the 119,000 commercial vehicles, including taxis, buses, and freight vehicles, are electric, with electric taxis making up just 0.5% of the licensed taxi fleet [3][4]. - The economic incentive for taxi owners to switch to electric vehicles is strong, as electric motors have fewer moving parts and lower operating costs, with fuel savings of over 70% compared to traditional fuel vehicles [4][5]. Challenges in Adoption - Taxi owners and drivers are cautious due to the slow charging times of traditional electric vehicles, which can lead to significant income loss during downtime [5][6]. - U Power's battery swapping stations could mitigate downtime, but the company needs to establish a sufficient network of stations and convince drivers to adopt this model [6][14]. Global Expansion Plans - U Power has initiated pilot projects in Singapore and Macau and is actively promoting battery swapping stations in Thailand, Mexico, Portugal, and Peru, with a focus on high-density taxi markets [7][9][10]. - The company plans to relocate its operational headquarters from Shanghai to Bangkok to facilitate global expansion [10]. Financial Performance and Market Reaction - U Power's stock experienced extreme volatility after its NASDAQ debut, soaring over 600% on the first day but later plummeting to below $4, reflecting investor skepticism about its business model and financial performance [11][12]. - The company has yet to achieve profitability, reporting a net loss of $7.7 million in 2024 against revenues of $6.08 million [12][13]. Cultural and Operational Challenges - Gaining acceptance from taxi fleet owners and drivers in Hong Kong is crucial, as the model requires operators to relinquish battery ownership and adopt a subscription fee system [14][15]. - The implementation of a blockchain-based incentive system aims to encourage efficient battery usage among drivers, potentially easing the transition to the new model [15][16]. Symbolic Significance - The electrification of Hong Kong's taxi industry represents a significant step towards sustainable urban transport, with potential implications for the city's global image [19][20].

Core Viewpoint - U Power Limited has entered into a Strategic Partnership with IoTeX to purchase Real-World Assets (RWAs) backed by corporate bonds, aimed at strengthening its capital structure and supporting the development of its EV battery-swapping technology [1][2]. Company Overview - U Power Limited specializes in AI-powered solutions for energy grids and intelligent transportation systems, focusing on its proprietary UOTTATM electric vehicle battery-swapping technology [1][6]. - The company is evolving from a battery-swapping station distributor to a provider of comprehensive AI-integrated energy solutions that optimize mobility and grid performance [6][7]. Strategic Partnership Details - The partnership will explore innovative solutions for the tokenization of RWAs, utilizing advanced AI technologies for secure and efficient asset growth [2][3]. - The collaboration is supported by HabitTrade, which will provide technical and strategic support for the token-equity integration [4]. Technological Integration - U Power aims to integrate its AI-empowered smart battery-swapping stations with a decentralized IoT infrastructure, enabling real-time asset tracking and monitoring for safety and performance [4]. - The partnership aligns with U Power's Web 3.0 initiative, focusing on the expansion of battery-token and battery-bank operations [4]. IoTeX Overview - IoTeX is a blockchain platform founded in 2017, dedicated to transforming machine-generated data into collective intelligence for AI applications [5]. - The platform provides infrastructure for connecting physical and digital worlds, including decentralized identity, data verification, smart contracts, and AI frameworks [5]. Industry Implications - The partnership signifies a commitment to sustainable development and technology innovation, leveraging blockchain-based finance (DeFi) for scalable real-world applications in energy and transportation [3].

Core Insights - U Power Limited has inaugurated Southeast Asia's first operational smart battery-swapping station in Phuket, Thailand, marking a significant milestone in the company's expansion and its joint venture with SUSCO Public Company Limited [1][2][5] - The Thailand Station is designed to support electric taxis and ride-hailing fleets, integrating AI-powered battery-swapping solutions and providing a zero-carbon energy model [4][5] - The company aims to create a comprehensive battery-swapping ecosystem that connects electric vehicles with advanced energy infrastructure, facilitating the transition to a more sustainable transportation model [6][9] Company Developments - The Thailand Station follows the delivery of Southeast Asia's first battery-swapping compatible taxi fleet in May 2025, establishing a scalable business model for the region [2][3] - U Power's strategic framework includes the deployment of smart swapping stations across various regions, with recent agreements to promote battery-swapping compatible electric heavy trucks and buses in Southeast Asia and South America [7] - The company plans to launch 5,000 swappable EVs and corresponding UOTTA™ stations in Singapore, while also facilitating the deployment of battery-swapping stations in Macau [7] Technological Innovations - The Thailand Station supports battery swaps within minutes and is compatible with multiple vehicle types, including future autonomous vehicles, showcasing the integration of next-generation AI technologies [4][5] - U Power's AI-driven solutions are designed to optimize energy replenishment efficiency and support autonomous EV driving, contributing to a more efficient energy grid [9] - The company is building a data-driven energy infrastructure network that enables seamless integration between mobility energy and digital energy trading [6]