U Power Announces Plan to Install 55 Smart Battery-Swapping Stations in Hong Kong Aiming to Create a Zero-Carbon EV Charging Ecosystem
U Power (NASDAQ:UCAR) has unveiled its first smart battery-swapping station in Hong Kong's Kwai Chung area, marking a significant expansion in EV infrastructure. The company plans to install 55 smart battery-swapping stations across Hong Kong, targeting the transformation of 18,000 taxis into EVs.
The initiative introduces the innovative Battery-Token system, utilizing Web 3.0 blockchain technology to reward drivers with tradeable tokens for battery swaps. U Power is expanding its Energy Service Provider model beyond Hong Kong, with plans in Macau (600 vehicles, 6 stations) and Singapore (5,000 vehicles, 50 stations).
U Power (NASDAQ:UCAR) ha inaugurato la sua prima stazione intelligente per lo scambio di batterie nell'area di Kwai Chung a Hong Kong, segnando un'importante espansione delle infrastrutture per veicoli elettrici. L'azienda prevede di installare 55 stazioni intelligenti per lo scambio di batterie in tutta Hong Kong, con l'obiettivo di trasformare 18.000 taxi in veicoli elettrici.
L'iniziativa introduce il innovativo sistema Battery-Token, che utilizza la tecnologia blockchain Web 3.0 per premiare i conducenti con token scambiabili in cambio dello scambio delle batterie. U Power sta ampliando il suo modello di Energy Service Provider oltre Hong Kong, con piani per Macau (600 veicoli, 6 stazioni) e Singapore (5.000 veicoli, 50 stazioni).
U Power (NASDAQ:UCAR) ha inaugurado su primera estación inteligente de intercambio de baterías en el área de Kwai Chung en Hong Kong, marcando una expansión significativa en la infraestructura de vehículos eléctricos. La compañía planea instalar 55 estaciones inteligentes de intercambio de baterías en todo Hong Kong, con el objetivo de transformar 18,000 taxis en vehículos eléctricos.
La iniciativa introduce el innovador sistema Battery-Token, que utiliza la tecnología blockchain Web 3.0 para recompensar a los conductores con tokens intercambiables por el intercambio de baterías. U Power está expandiendo su modelo de Proveedor de Servicios Energéticos más allá de Hong Kong, con planes en Macau (600 vehículos, 6 estaciones) y Singapur (5,000 vehículos, 50 estaciones).
U Power (NASDAQ:UCAR)는 홍콩 콰이충 지역에 첫 스마트 배터리 교환소를 공개하며 전기차 인프라 확장에 중요한 이정표를 세웠습니다. 회사는 홍콩 전역에 55개의 스마트 배터리 교환소를 설치할 계획이며, 18,000대의 택시를 전기차로 전환하는 것을 목표로 하고 있습니다.
이번 사업은 Web 3.0 블록체인 기술을 활용한 혁신적인 배터리 토큰 시스템을 도입하여, 배터리 교환 시 운전자에게 교환 가능한 토큰으로 보상합니다. U Power는 홍콩을 넘어 에너지 서비스 제공자 모델을 확장 중이며, 마카오 (600대, 6개소)와 싱가포르 (5,000대, 50개소)에서도 계획을 추진하고 있습니다.
U Power (NASDAQ:UCAR) a inauguré sa première station intelligente d’échange de batteries dans le quartier de Kwai Chung à Hong Kong, marquant une expansion significative des infrastructures pour véhicules électriques. L’entreprise prévoit d’installer 55 stations intelligentes d’échange de batteries à travers Hong Kong, visant à convertir 18 000 taxis en véhicules électriques.
L’initiative introduit le système innovant Battery-Token, qui utilise la technologie blockchain Web 3.0 pour récompenser les conducteurs avec des jetons échangeables lors des échanges de batteries. U Power étend son modèle de fournisseur de services énergétiques au-delà de Hong Kong, avec des projets à Macau (600 véhicules, 6 stations) et Singapour (5 000 véhicules, 50 stations).
U Power (NASDAQ:UCAR) hat seine erste intelligente Batterie-Wechselstation im Gebiet Kwai Chung in Hongkong eröffnet und damit eine bedeutende Erweiterung der Infrastruktur für Elektrofahrzeuge markiert. Das Unternehmen plant, 55 intelligente Batterie-Wechselstationen in ganz Hongkong zu installieren, mit dem Ziel, 18.000 Taxis auf Elektrofahrzeuge umzustellen.
Die Initiative führt das innovative Battery-Token-System ein, das Web 3.0 Blockchain-Technologie nutzt, um Fahrer für Batterie-Wechsel mit handelbaren Tokens zu belohnen. U Power erweitert sein Modell als Energie-Dienstleister über Hongkong hinaus, mit Plänen in Macau (600 Fahrzeuge, 6 Stationen) und Singapur (5.000 Fahrzeuge, 50 Stationen).
- Plans to install 55 smart battery-swapping stations in Hong Kong, targeting 18,000 taxis
- Expansion into Macau and Singapore markets with significant vehicle and station commitments
- Introduction of innovative Battery-Token system using blockchain technology
- Partnership with Hong Kong Taxi Drivers & Operators Association for taxi electrification
- Significant capital investment required for infrastructure deployment
- Success depends on taxi operator adoption and infrastructure implementation
- Faces competition from traditional EV charging solutions
Insights
U Power's plan to deploy 55 battery-swapping stations in Hong Kong represents a strategic market entry with innovative blockchain integration for urban EV adoption.
U Power's announcement marks a significant market expansion with the inauguration of Hong Kong's first smart battery-swapping station and plans to deploy a network of 55 stations. This infrastructure aims to support the electrification of Hong Kong's 18,000 taxis while also accommodating other EVs including commercial cars, buses, and even ferry terminals.
The company's UOTTA™ Intelligent Battery-Swapping System offers automatic, fast, and cost-efficient battery swapping – addressing key pain points in EV adoption. This technology could provide a competitive advantage in dense urban environments where traditional charging infrastructure faces space constraints and time limitations.
What makes this deployment particularly innovative is the integration of blockchain technology through their "Battery Token" system. This Web 3.0 solution incentivizes drivers to participate by earning tokens with each battery swap, which can be exchanged for electricity tariff credits. This gamification approach could accelerate adoption while creating a potential recurring revenue stream.
Beyond Hong Kong, U Power is establishing partnerships in Macau (planning for 600 vehicles and six stations) and Singapore (targeting 5,000 vehicles and 50 stations). This demonstrates a clear regional expansion strategy focused on densely populated Asian urban centers where battery swapping offers distinct advantages over traditional charging.
The zero-carbon aspect of this ecosystem aligns with growing regulatory pressures for transportation decarbonization, positioning U Power to potentially benefit from government incentives and partnerships focused on emissions reduction in urban transportation.
Inaugurates
Introduces Battery-Token an Innovative Solution Using Web 3.0 Blockchain and Token-Based Economics
U Power's plan of constructing and installing a total of 55 smart battery-swapping stations for EVs in
U Power's plan to create an ecosystem of 55 smart battery-swapping stations, is designed using a replicable zero-carbon transportation model for high-density cities, and aligns well with
- Intelligent Battery Swapping: U POWER's self-developed UOTTA™ Intelligent Battery-Swapping System which offers automatic, fast and cost-efficient battery swapping services.
- Green and Sustainable EV Operations: As per the Memorandum of Understanding ("MOU") signed during the inauguration ceremony, U Power will cooperate with the Hong Kong Taxi Drivers & Operators Association to promote the electrification of taxis in
Hong Kong and the adoption of the battery swapping model, ensuring maximum battery safety and performance, and transforming taxi operations into greener and more sustainable. - Carbon Reduction Activities: As more smart battery-swapping stations are installed, with more EVs connected to its "Battery Bank" operations, U Power will be introducing the world's first "Battery Token," an innovative solution using "Web 3.0 blockchain and token-based economics," which will offer drivers the ability to earn tokens with each battery swap. These tokens can be traded for electricity tariff credits, promoting U Power's mission of encouraging increased global participation in carbon reduction activities.
U Power is implementing its Energy Service Provider ("ESP") power-swap model beyond
The Company has signed and/or working on to establish MOUs with ESP partners in
Johnny Lee, CEO and Chairman of U Power commented, "We are excited to debut
About U Power Limited
U Power is a comprehensive provider of electric vehicle (EV) battery swapping solutions using its proprietary modular battery-swapping technology, UOTTA™. U Power manufactures and sells different models of UOTTA battery-swapping stations for EVs, and sells and rents battery swap cabinets to two-wheeled vehicle drivers. U Power also provides battery-swapping services for vehicle drivers and station control system upgrading services for battery-swapping station owners.
Through investments in next-generation technologies, U Power's vision is to become a comprehensive solutions provider for smart energy grids. Expanding on its UOTTA technology platform, the Company is investing in building intelligent ecosystems that integrate resilient AI driven solutions able to transform electric vehicles (EVs) into dynamic energy assets.
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
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 to download multimedia:https://www.prnewswire.com/news-releases/u-power-announces-plan-to-install-55-smart-battery-swapping-stations-in-hong-kong-aiming-to-create-a-zero-carbon-ev-charging-ecosystem-302489599.html
SOURCE U Power Limited
FAQ
What is U Power's (UCAR) plan for battery-swapping stations in Hong Kong?
How does U Power's Battery-Token system work?
What are U Power's expansion plans in Macau and Singapore?
Which types of vehicles will U Power's battery-swapping stations support in Hong Kong?
What partnerships has U Power (UCAR) established for its Hong Kong expansion?
