Welcome to our dedicated page for U Power news (Ticker: UCAR), a resource for investors and traders seeking the latest updates and insights on U Power stock.
U Power Limited reports developments in AI-integrated energy-grid solutions, intelligent transportation systems, and battery-swapping technology for commercial vehicles. News commonly covers UOTTA battery-swapping deployments, electric heavy-duty truck projects, station operations in Asian markets, and partnerships tied to next-generation energy infrastructure.
Company updates also include financing activity, share and warrant structures, shareholder voting matters, and governance actions. Recurring announcements connect U Power’s commercial-vehicle electrification work with market expansion in Thailand, Hong Kong, and broader Southeast Asia.
U Power (Nasdaq: UCAR) announced that Hydro Data Limited, its joint venture with Guofu Hydrogen Energy and Cloud Digital Chain, received the 2026 “Data Center Power & Energy Solution” award at DIF Awards 2026 in Thailand.
The Hydro Data JV develops AI-driven, hydrogen-based integrated energy solutions for data centers in Thailand, with plans for global expansion. According to U Power, the JV combines smart grid battery-swapping technology with hydrogen energy expertise and has an agreement to support a 100MW data center project in Rayong, starting with a 3MW pilot.
U Power (Nasdaq: UCAR) announced that its Hydro Data joint venture, CEWA Group, and Guofu Hydrogen Energy agreed to develop an integrated energy solution for a 100MW data center project in Rayong, Thailand.
The project starts with a 3MW pilot and is designed to validate hydrogen-based and clean energy technologies, support both primary and backup power, and create potential recurring revenue. U Power plans to form a Thailand subsidiary by July 31, 2026 and begin Hydro Data JV operations within 90 days.
U Power (Nasdaq: UCAR) reported FY 2025 revenue of RMB41.1 million, down 7.1% year over year, with gross profit of RMB14.9 million and gross margin improving to 36.3%.
Net loss widened to RMB80.5 million. The company expanded global battery-swapping deployments and entered AI-driven IDC energy solutions and tokenized RWA initiatives.
U Power (Nasdaq: UCAR) entered subscription agreements on April 27, 2026 to sell 15,670,737 Class A shares at $1.64 per share in a Regulation S private placement, raising $25.7 million. The board approved the transaction; closing is expected on or about April 27, 2026.
The company said proceeds will mainly fund a planned strategic joint venture for hydrogen energy in Thailand and support overseas expansion of battery‑swapping projects, including heavy trucks in Thailand, electric vans in Southern Europe, and a taxi project in Hong Kong. Founder and CEO Johnny Lee subscribed for $3.0 million; the audit committee reviewed this related‑party participation.
U Power (Nasdaq: UCAR) agreed with Guofuhee (HKSE: 2582) and Cloud Digital to form a U Power-controlled joint venture to provide AI-driven hydrogen energy and integrated power solutions for Intelligent Data Centers (IDCs), initially in Thailand.
The JV will be incorporated in Hong Kong SAR on or before July 31, 2026, with operations expected to begin within 90 days thereafter. U Power will hold a majority equity stake. The JV targets design, construction, operation of hydrogen energy systems, refueling infrastructure, hydrogen drones, and commercial vehicle services. Thailand IDC market cited at $1.45B in 2025, projecting $6.3B by 2031 (CAGR 27.7%).
U Power (Nasdaq: UCAR) entered subscription agreements on April 7, 2026 to sell 2,900,000 Class A ordinary shares at $1.10 per share, raising gross proceeds of $3,190,000. The board approved the transaction; closing expected on or about April 7, 2026.
Proceeds are intended to fund market expansion, scale core operations, and accelerate deployment of battery-swapping solutions. The Shares were sold offshore under Regulation S and are not registered for U.S. resale.
U POWER (NYSE:UCAR) announced a commercial expansion of its battery-swapping business in Asia after securing an order for 1,000 heavy-duty trucks in Thailand and completing the first production batch. The company expects Hong Kong taxi battery-swapping station deployment and operations to begin in Q2 2026, marking a broader commercial rollout.
The company cites prior scaled operations in Phuket and partnerships with Thai firms as validation for international growth of its UOTTA battery-swapping model.
U Power (Nasdaq: UCAR) closed an underwritten public offering on March 20, 2026, selling 13,360,000 Units at $0.449 per Unit for gross proceeds of approximately $6.0 million.
Each Unit included one Class A ordinary share and one warrant; warrants are exercisable immediately at $0.449 and include adjustment mechanics and a zero-exercise-price option that can double share issuance. The underwriter partially exercised its option for 1,890,000 warrants.
U Power (Nasdaq: UCAR) priced an underwritten public offering of 13,360,000 Units at $0.449 per Unit, producing gross proceeds of approximately $6.0 million. Each Unit includes one Class A ordinary share and one one‑year Warrant exercisable at $0.449.
The Warrants are immediately exercisable, include adjustment mechanics on the 2nd and 5th trading days post‑closing, and permit a zero exercise price option that yields twice the shares on exercise. The underwriter has a 45‑day option to purchase up to 2,004,000 additional shares and/or warrants. Closing expected on or about March 20, 2026; Maxim Group is exclusive underwriter.
U Power (Nasdaq: UCAR) completed production of 30 battery-swapping heavy trucks for Thailand, with a pilot shipment scheduled for late May 2026. Production followed operational testing and full-stack battery-swapping integration in early March 2026.
The pilot is part of a plan to deploy up to 1,000 trucks over three years with partner Whale Logistics, using SAIC Hongyan/UNEX EV manufactured vehicles and U Power's intelligent battery-swapping systems to reduce charging downtime and support regional commercialization.