Core Insights - U Power Limited has signed a Memorandum of Understanding (MOU) with Beijing Foton International Trade Co., Ltd. to promote battery-swapping compatible electric heavy trucks, buses, and vans in Southeast Asia, South America, Hong Kong SAR, and Macau SAR markets [1][2] - The partnership aims to enhance U Power's OEM partner base and accelerate the establishment of a comprehensive battery-swapping ecosystem [3] Company Overview - U Power is a provider of electric vehicle (EV) battery-swapping solutions, utilizing its proprietary modular battery-swapping technology, UOTTA™ [5] - The company is focused on becoming a smart energy grid solutions provider by investing in next-generation technologies and building intelligent ecosystems [6] Beijing Foton Overview - Beijing Foton is a leading commercial vehicle manufacturer in China, responsible for the export of Foton Motor's automotive products, having exported 153,000 new energy vehicles in 2024 [4] - The company has made significant R&D investments in core EV technologies and aims to strengthen its global presence through partnerships like the one with U Power [4]