Core Viewpoint - U Power Limited has signed a Memorandum of Understanding (MOU) with NV Gotion Co., LTD to develop battery-swapping solutions and battery-bank operations for electric vehicles (EVs) in Thailand and Southeast Asia [1][2][4]. Company Overview - U Power Limited specializes in electric vehicle battery-swapping solutions and is transitioning towards becoming a smart energy grid solutions provider [1][7]. - The company utilizes its proprietary modular battery-swapping technology, UOTTA™, to manufacture and sell various models of battery-swapping stations and provides battery-swapping services [6]. Strategic Partnership - The MOU establishes a strategic partnership between U Power and NV Gotion to develop battery modules and packs for a range of EVs, including two- and three-wheelers, pickup trucks, vans, light-duty trucks, and heavy-duty trucks [2]. - The partnership aims to create a battery-swapping infrastructure in Thailand and develop comprehensive battery-bank operations, including battery leasing and vehicle-to-grid (V2G) solutions [2][4]. Market Positioning - U Power has previously signed several MOUs and joint ventures to create a network of battery-swapping stations strategically located at fueling stations across Thailand [3]. - The company is focused on addressing the growing demand for reliable EV battery supplies in Southeast Asia, leveraging NV Gotion's vertically integrated battery manufacturing capabilities [4][5]. Future Outlook - U Power is investing in next-generation technologies to build intelligent ecosystems that integrate AI-driven solutions, transforming EVs into dynamic energy assets [7].

Core Insights - U Power Limited has inaugurated Hong Kong's first smart battery-swapping station, which is a zero-carbon facility connected to a Battery-Bank, showcasing its commitment to sustainable energy solutions [1] - The company plans to construct a total of 55 smart battery-swapping stations in Hong Kong to support the electrification of the taxi fleet and promote sustainable urban transportation [2][3] - U Power is introducing Battery-Token, a blockchain-based solution that incentivizes users to participate in carbon reduction activities by earning tokens with each battery swap [6] Company Overview - U Power is a provider of electric vehicle (EV) battery-swapping solutions, utilizing its proprietary UOTTA™ technology to manufacture and sell various models of battery-swapping stations [5] - The company aims to become a comprehensive solutions provider for smart energy grids, focusing on intelligent battery swapping, green EV operations, and carbon reduction activities [6] Strategic Partnerships and Expansion - U Power is establishing Memorandums of Understanding (MOUs) with partners in Hong Kong, Macau, and Singapore to expand its battery-swapping ecosystem, with plans to sell and service a significant number of battery-swapping vehicles and operate multiple stations in these regions [3][4] - The company is collaborating with the Hong Kong Taxi Drivers & Operators Association to promote the electrification of taxis and the adoption of battery swapping, ensuring safety and performance [6]

Core Viewpoint - U Power Limited aims to become a smart energy grid solutions provider by leveraging its UOTTA battery-swapping technology and expanding its business through strategic partnerships and innovative solutions [1][11]. Recent Business Developments - The company reported a total revenue of $6.2 million for the full year 2024, marking a 124% increase compared to 2023, and sold 12 battery-swapping stations during the same period [2]. - U Power has established partnerships in Thailand, Portugal, Hong Kong, Peru, and Mexico to promote UOTTA battery-swapping services and is collaborating with major EV manufacturers in these regions [3]. - The company holds 46 issued patents and has 18 pending patent applications, enhancing its technological capabilities [4]. Growth Strategy for 2025 and Beyond - U Power's strategy focuses on two main pillars: leveraging existing battery-swapping technology to build a UOTTA-centered ecosystem and investing in next-generation technologies to develop comprehensive solutions for EV manufacturers and drivers [5][6]. - Plans include incorporating UOTTA into more EVs, accelerating international rollout through partnerships, and investing in technology innovation, including an AI-based data management cloud platform [8]. - The introduction of "Battery Bank" solutions and "Commercial Energy Storage" solutions aims to enhance battery lifecycle performance and support energy storage needs [9]. Company Overview - U Power Limited is a provider of electric vehicle battery-swapping solutions using its proprietary UOTTA technology, which includes manufacturing and selling various models of battery-swapping stations and providing related services [10].