TruGolf Links Franchisee Takes on Developing all of Long Island

Rhea-AI Summary

U Power (Nasdaq: UCAR) signed an initial sales agreement with Treep Mobility to supply 50 two- and three-wheeled UNEX vehicles, 8 battery-swapping cabinets, and a corresponding number of compatible batteries for taxi operations in Peru.

The initial order is valued at $113,000 and follows a successful pilot deployment in January 2025. Treep expects to cut energy replenishment costs by about 30–40% versus fuel vehicles. The parties agreed to gradually expand procurement and deployment across Peru, a market with over 100,000 registered moto taxis and a stated motorcycle market size of $324 million.

Positive

• Initial order includes 50 UNEX two/three-wheeled vehicles
• Includes 8 battery-swapping cabinets and compatible batteries
• Pilot demonstrated real-time battery monitoring and centralized swapping
• Projected 30–40% energy replenishment cost reduction for Treep

Negative

• Initial order value is modest at $113,000
• No quantified follow-on purchase commitments or timelines disclosed

Key Figures

Vehicle order size 50 vehicles Two- and three-wheeled vehicles for Treep Mobility

Battery-swapping cabinets 8 cabinets Battery-swapping cabinets to support the deployed fleet

Initial order value $113,000 Value of first procurement agreement with Treep Mobility

Energy cost reduction 30–40% Expected energy replenishment cost savings vs. fuel taxis

Registered moto taxis 100,000+ vehicles Size of Peru’s moto taxi fleet cited in article

Motorcycle market size $324 million Total motorcycle market value in Peru

Market growth rate ~3% CAGR Growth rate of Peruvian motorcycle market

Annual EV market growth 300,000+ vehicles Annual increase in South American electric motorcycles

Market Reality Check

$1.77 Last Close

Volume Volume 155,088 is below the 20-day average of 682,530, suggesting limited pre-news activity. low

Technical Shares at $1.21 were trading below the 200-day MA of $8.33, indicating a longer-term downtrend.

Peers on Argus

TRUG was up 3.42% while peers showed mixed moves: GXAI -2.48%, BHAT +2.81%, MSGM +1.56%, TBH -7.53%, GIGM +3.33%, pointing to stock-specific rather than sector-wide drivers.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 20	Broadcast tech deal	Positive	-11.4%	E6 Apex software powered Sky Sports’ coverage of The Open Championship.
Nov 17	Q3 2025 earnings	Positive	+10.2%	Q3 results showed strong margins, improved equity, and reduced liabilities.
Nov 05	Product launch	Positive	+4.4%	Announced TruGolf Range indoor platform with large-format projection and data.
Oct 08	Major contract win	Positive	-7.5%	Named exclusive simulator supplier for a large new Golf Everywhere facility.
Aug 20	Q2 2025 earnings	Neutral	-2.6%	Reported revenue growth but wider losses and lower gross margin amid expansion.

Pattern Detected

Recent news and contract wins have produced a mix of aligned and divergent price reactions, with positive operational updates sometimes sold off despite constructive fundamentals.

Recent Company History

Over the past six months, TruGolf has reported franchise expansion, product innovation, and balance-sheet restructuring. Notable items include Q2 and Q3 2025 results with revenue around $4–4.3M per quarter and improved equity, a $4.5M Golf Everywhere contract, and launch of TruGolf Range tied to the 2026 PGA Show. Media exposure via Sky Sports’ Open Championship coverage highlighted its E6 Apex engine. Today’s franchise development news adds another growth vector alongside simulators, software, and indoor range platforms.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-11-17

$200,000,000 registered capacity

An effective universal shelf on Form S-3 filed on 2025-11-17 allows TruGolf to issue up to $200,000,000 of various securities over time, subject to smaller‑issuer limits tied to its public float. This provides flexibility to raise capital via equity, debt, or hybrid instruments through future prospectus supplements, which can be dilutive or leverage‑increasing depending on structure.

Market Pulse Summary

This announcement highlights expansion of an EV battery-swapping model, with an initial $113,000 order covering 50 vehicles and 8 cabinets, plus plans to deepen the partnership. Investors may compare this to TruGolf’s recent history of product launches, franchise activity, and major contracts to gauge execution consistency. Key factors to monitor include order follow-on volumes, margin impact, and any capital-raising steps under the $200,000,000 shelf registration.

Key Terms

battery-swapping technical

"UOTTA™ electric vehicle (EV) battery-swapping technology, today announced that it has..."

Battery-swapping is a system for electric vehicles where a depleted battery is quickly exchanged for a fully charged one at a station, instead of recharging the battery inside the car. For investors, it matters because it can change how fast vehicles return to service, who owns and maintains batteries, and whether companies earn ongoing fees from a network of swap stations — all of which affect revenue models, costs and competitive positioning.

electric vehicle (EV) technical

"UOTTA™ electric vehicle (EV) battery-swapping technology, today announced that it..."

An electric vehicle (EV) is a car, truck, or other road vehicle that uses one or more electric motors powered by rechargeable batteries instead of a gasoline or diesel engine. Investors care because EVs can shift revenue and cost patterns across automakers, parts suppliers, energy companies and infrastructure providers; adopting EVs is like a new smartphone platform that creates winners and losers across an industry and can drive long-term growth or disruption.

AI-empowered technical

"which showcased the effectiveness of U Power's AI-empowered quick and intelligent..."

Describes a product, service, process or team that uses artificial intelligence tools to do tasks faster, spot patterns, or make better decisions—like giving a business a smart assistant that can analyze lots of information and suggest actions. Investors care because AI enhancement can lower costs, boost growth or create a competitive edge, but it also changes risk and capital needs by requiring data, talent and possible regulatory oversight.

CAGR financial

"a $324 million total market of motorcycles in the country growing at a CAGR of ~3%"

Compound Annual Growth Rate (CAGR) measures the average yearly growth of an investment, revenue, or other metric over a multi-year period as if it had grown at a steady rate each year. Think of it like the constant speed that would take you from the starting value to the ending value over the same time—useful because it smooths out ups and downs and lets investors compare different assets or performance periods on an even footing.

AI-generated analysis. Not financial advice.

Accelerating Treep Mobility's Transformation from Fuel-Powered Vehicles to EVs Following Successful Pilot Deployment

SHANGHAI, Sept. 22, 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 that it has signed an initial sales agreement with Treep Mobility Group S.A.C. ("Treep Mobility"), a leading Moto Taxi operator in Peru. Under the agreements, Treep Mobility will purchase and deploy a total of fifty two- and three-wheeled vehicles, eight battery-swapping cabinets and a corresponding number of compatible batteries, all built on U Power's proprietary UOTTA™ electric vehicle (EV) battery-swapping technology.

The sales agreements follow the successful pilot deployment of U Power's battery-swapping vehicles and cabinets in Peru in January 2025, which showcased the effectiveness of U Power's AI-empowered quick and intelligent battery-swapping solutions. These systems not only monitor real-time battery performance but also connect vehicles to a centralized cabinet network, enabling efficient energy management. Treep Mobility recognized U Power's battery-swapping vehicle operation model in maximizing vehicle uptime and boosting revenue potential. By transforming its fuel-powered taxi fleet to electric vehicles, Treep Mobility expects to reduce energy replenishment costs by approximately 30-40% compared to traditional fuel vehicles, while contributing to Peru's environmental sustainability goal, a key consideration in a market with over 100,000 registered moto taxis, part of a $324 million total market of motorcycles in the country growing at a CAGR of ~3%.

Pursuant to the agreements, U Power will deliver a total of fifty two- and three-wheeled UNEX-branded vehicles to Treep Mobility for taxi services, and eight battery-swapping cabinets that will support the energy replenishment activities of the fleet. In addition, U Power will supply a corresponding number of swapping-compatible batteries to Treep Mobility to enable the daily operation of battery swapping cabinets. The initial order is valued at $113,000, and both parties agree to gradually expand their partnership through additional procurement agreements for the purchase and deployment of additional two/three-wheeled vehicles in Peru.

Johnny Lee, CEO and Chairman of U Power commented, "We are excited to formalize our agreement with Treep Mobility, a reflection of our customer's satisfaction and confidence in our two/three-wheeled battery swapping solutions which have demonstrated a proven commercial and operational logic. We look forward to deepening our cooperation with Treep Mobility and expanding our market existence in the Peruvian market and beyond, as South America represents a tremendous electric motorcycles market, growing by over 300,000 new vehicles annually. As we continue to build our growth momentum and increase market exposure through this first step of expansion in South America, we look forward to introducing more of U Power's battery-swapping solutions into this vibrant and fast-growing market."

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  

 

View original content:https://www.prnewswire.com/news-releases/u-power-signs-initial-sales-agreement-with-treep-mobility-for-the-purchase-and-deployment-of-fifty-two--and-three-wheeled-vehicles-eight-battery-swapping-cabinets-and-corresponding-number-of-compatible-batteries-302561688.html

SOURCE U Power Limited

FAQ

What did U Power (UCAR) agree to supply Treep Mobility on December 9, 2025?

U Power agreed to supply 50 two/three-wheeled UNEX vehicles, 8 swapping cabinets, and compatible batteries under an initial order valued at $113,000.

How much does Treep Mobility expect to save by switching to UCAR battery-swapping vehicles?

Treep Mobility expects approximately 30–40% lower energy replenishment costs versus traditional fuel vehicles.

When was UCAR's battery-swapping pilot deployed in Peru that preceded the Treep deal?

The pilot deployment occurred in January 2025 and demonstrated the company's battery-swapping vehicle and cabinet operations.

How large is the Peruvian moto taxi market referenced in the UCAR announcement?

The announcement cites over 100,000 registered moto taxis and a motorcycle market of about $324 million with ~3% CAGR.

Does the UCAR-Treep agreement guarantee future large purchases or expansion timelines?

The parties agreed to gradually expand cooperation, but the announcement does not disclose any quantified follow-on purchase commitments or schedules.

What operational features did UCAR highlight in its battery-swapping solution for Treep Mobility?

UCAR highlighted AI-empowered quick swapping, real-time battery performance monitoring, and connection to a centralized cabinet network for energy management.