U Power Announces Appointment of New Independent Director

Core Viewpoint - U Power Limited has announced the resignation of Mr. Bo Lyu from its board and the appointment of Prof. Jean Christophe von Pfetten as an independent director, effective February 1, 2024, which is expected to enhance the company's governance and strategic direction [1][3]. Company Overview - U Power Limited is a vehicle sourcing services provider aiming to become a comprehensive EV battery power solution provider in China, focusing on its proprietary battery-swapping technology known as UOTTA [4]. - The company has been operational since 2013 and has established a vehicle sourcing network in China's lower-tier cities, developing two types of battery-swapping stations and operating a manufacturing factory in Zibo City, Shandong Province [4]. New Board Member Profile - Prof. Jean Christophe von Pfetten is an accomplished diplomat and academic with extensive experience, including roles as Chairman of the Institute for EastWest Strategic Studies and a visiting professor at People's University of China [2]. - He has authored a book and over thirty articles on topics related to corporate governance, political economics, and international relations, holding degrees in Physics, Chemistry, and Geophysics [2].