U POWER LIMITED (NASDAQ:UCAR) and ELMO Joint Venture Pioneer Rapid Battery-Swapping Solutions for Portugal's Taxi Sector

Core Insights - U POWER LIMITED and its joint venture partner ANTRAL are launching innovative plans to transform urban mobility in Portugal, focusing on zero-emission transport through battery-swapping technology for taxi fleets [1][4] - The initiative aims to enhance the efficiency and sustainability of taxi operations, addressing downtime challenges and reducing reliance on traditional charging infrastructure [3][4] Group 1: Company Overview - U POWER LIMITED is a vehicle sourcing services provider with a focus on proprietary battery-swapping technology, known as UOTTA, designed to offer comprehensive power solutions for electric vehicles [6] - ANTRAL, celebrating its 50th anniversary, is Portugal's leading advocate for road transport innovation and sustainability, representing over 50,000 professional drivers and taxi operators [5] Group 2: Strategic Initiatives - ELMO, the joint venture between U POWER and ANTRAL, plans to deploy 150–200 battery-swapping electric vehicles specifically for taxi operators, along with UOTTA rapid-swap stations that can complete battery exchanges in minutes [3] - ELMO is collaborating with Galp, Portugal's leading energy provider, to integrate UOTTA stations into existing service stations, enhancing accessibility for taxi operators [3][4] Group 3: Leadership Perspectives - Florêncio de Almeida, President of ANTRAL, highlighted the project's potential to redefine the electric vehicle market by prioritizing speed and practicality, aiming for nationwide adoption [4] - Johnny Lee, CEO of U POWER LIMITED, emphasized the global implications of the partnership, stating that the initiative sets a blueprint for sustainable urban mobility solutions worldwide [4]