U Power Inaugurates Southeast Asia's First Operational AI-Integrated Battery-Swapping Station

Building a Global Data-Driven Energy Ecosystem Via Partnerships Aiming to Create a Smarter, Greener, and More Efficient Energy Future

SHANGHAI, July 21, 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 UOTTA^TM electric vehicle (EV) battery-swapping technology, today announced the inauguration of Southeast Asia's first operational smart battery-swapping station (the "Thailand Station"), located in Phuket Island, Thailand.

The commencement of operations at the Thailand Station follows U Power's May 2025delivery of Southeast Asia's first battery-swapping compatible taxi fleet. This marks not only the first deployment of smart battery-swapping stations launched under U Power's joint venture with SUSCO Public Company Limited (BK: SUSCO), but also the first fully operational 24/7 smart battery swapping station in the entire Southeast Asia region specifically designed for electric taxis and ride-hailing fleets. The collaboration aims to transform Thailand's transportation infrastructure into a more sustainable and AI-driven model, to meet the growing demand for EV energy solutions.

In April 2025, U Power, in collaboration with UNEX EV and CP-MG, delivered its first batch of swappable electric vehicles, now operating as taxis and ride-hailing services in Phuket. The official launch of the Phuket station completes the ecosystem loop, from vehicle to swapping station to operational platform, establishing a foundation for a scalable and replicable business model across the region.

Supporting battery swaps within minutes, the Thailand Station integrates AI-powered battery-swapping solutions and is compatible with multiple vehicle types, including future autonomous vehicles. The weather-resistant Thailand Station is specifically designed to withstand Phuket's tropical climate and provides robust protection against heavy precipitation and high humidity. The Thailand Station, the first zero-carbon battery-swapping station in the region, will be integrated with U Power's Battery-bank system, and will enable EV drivers to earn battery-tokens through swapping activities. This innovative incentive model is expected to scale as additional stations are deployed and more compatible EVs enter the market.

Johnny Lee, CEO and Chairman of U Power commented, "We are thrilled to inaugurate Southeast Asia's first battery swapping station serving electric taxi fleets, a significant milestone in expanding our global footprint and a pivotal advancement in our joint venture with SUSCO. The Thailand Station represents U Power's first fully automated EV energy replenishment model, integrating next-generation AI technologies into a weather-resilient and intelligent infrastructure. We are confident that this business model will serve as a replicable paradigm across the broader ASEAN region, as well as Southern Europe and South America. Our vision is to build a comprehensive battery-swapping ecosystem that delivers smart, reliable, and zero-carbon energy solutions for energy grids and transportation systems."

Building a Global Data-Driven Energy Ecosystem

Guided by its strategic "Vehicle-Station-Cloud-Token" framework, U Power is building a nodal, intelligent, and data-driven energy infrastructure network, that enables seamless integration between mobility energy and digital energy trading, laying the foundation for the widespread adoption of autonomous vehicles and accelerating the transition toward a fully automated, unmanned future in global smart mobility.

U Power is addressing a critical challenge in mobility energy by deploying its smart swapping stations across countries and continents, via collaborations with governments and industry partners aiming to create a smarter, greener, and more efficient energy future.

Recent agreements signed with reputable partners across several regions include:

• U Power's agreement with Beijing Foton aims to promote battery-swapping compatible electric heavy trucks, buses and vans in the Southeast Asia, South America, Hong Kong SAR, and Macau SAR markets.
• In Singapore, U Power launched its "ESP Model" which aims to deploy 5,000 swappable EVs and a corresponding number of UOTTA™ stations, while converting 300 existing MG EP taxis into swappable versions.
• In Macau, the agreement with another local ESP aims to facilitate the deployment of UOTTA battery-swapping stations and sales of compatible EVs (starting with approximately 600 four-wheeled and 5,000 two-wheeled compatible battery-swapping vehicles)
• In Hong Kong, the first UOTTA™ smart swapping station opened in June in Kwai Chung, with a three-phase plan to build 55 stations to serve taxis, buses, and even ferries.
• In Europe, U Power partnered with the Portuguese Taxi Association to establish the joint venture ELMO.
• In South America, U Power plans to launch its first station in Peru, in partnership with local ride-hailing platform Ualabee.

About U Power Limited

U Power is a provider of comprehensive AI-integrated energy solutions that connect electric vehicles (EVs) with advanced energy infrastructure, optimizing both mobility and grid performance. Originally a distributor of various battery-swapping station models built on its proprietary modular battery-swapping technology UOTTA™, U Power has evolved into a provider of AI-integrated solutions for energy grids and transportation systems.

Through investments in next-generation technologies, U Power is building intelligent ecosystems that integrate resilient AI driven solutions able to transform EVs into dynamic energy assets. By incorporating AI algorithms, U Power's comprehensive solutions for smart energy grids are designed to support autonomous EV driving, optimize energy replenishment efficiency, and seamlessly connect EV assets with advanced AI-powered transportation systems, enabling peak and off-peak energy load balancing.

For more information, please visit the Company's website: https://www.upower-limited.com/.

Safe Harbor Statements

This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

Contact

U Power Limited
Investor Relations Department
ir@upincar.com

The Equity Group
Lena Cati, Senior Vice President
212-836-9611 / lcati@theequitygroup.com 

Alice Zhang, Associate
212-836-9610 / azhang@theequitygroup.com  

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SOURCE U Power Limited