U POWER LIMITED (NASDAQ:UCAR) and ELMO Joint Venture Pioneer Rapid Battery-Swapping Solutions for Portugal's Taxi Sector

Rhea-AI Summary

U Power (NASDAQ:UCAR) and its joint venture ELMO have announced a groundbreaking initiative with ANTRAL to transform Portugal's taxi sector through battery-swapping technology. The project was unveiled at ANTRAL's 50th Anniversary & XVI Taxi Day in Lisbon from April 10-13, 2025.

The initiative includes the deployment of 150-200 battery-swapping electric vehicles specifically designed for taxi operators, supported by UOTTA rapid-swap stations that can complete battery exchanges within minutes. ELMO is in advanced talks with Galp, Portugal's leading energy provider, to integrate these stations into existing service locations.

The partnership aims to address downtime challenges in commercial fleets while promoting zero-emission transport. This collaboration between U Power's technical expertise and ANTRAL's market presence is positioned as a potential model for sustainable urban mobility worldwide.

Positive

• Strategic partnership with Portugal's leading energy provider Galp for infrastructure expansion
• Initial order of 150-200 electric vehicles for taxi fleet deployment
• Innovative UOTTA technology enabling rapid battery swapping in minutes

Negative

• Significant capital investment required for infrastructure and fleet deployment
• Success dependent on taxi operator adoption and infrastructure implementation

LISBON, Portugal, April 15, 2025 /PRNewswire/ -- U POWER LIMITED, a global leader in green smart energy grid innovation, together with its ELMO joint venture partner ANTRAL, unveiled transformative plans to redefine urban mobility at ANTRAL's 50th Anniversary & XVI Taxi Day, held from April 10 to 13, 2025, at the Lisbon Congress Center. Focused on accelerating Portugal's transition to zero-emission transport, the initiative centers on deploying cutting-edge battery-swapping technology tailored for taxi fleets, backed by strategic infrastructure partnerships and scalable solutions.

A Four-Day Showcase of Innovation and Sustainability

As part of the anniversary festivities, ELMO participated in a dedicated exhibition focused on digital transformation and innovation in the taxi sector, collaborating with leading manufacturers, tech providers, financial institutions, insurers, and specialized service companies. The event highlighted ELMO's mission to drive decarbonization, digitalization, and safety in urban transport, showcasing its pivotal role as a catalyst for sustainable mobility solutions.

Revolutionizing Taxi Operations with Speed and Efficiency

ELMO's strategy prioritizes the rollout of 150–200 battery-swapping electric vehicles designed exclusively for taxi operators, coupled with the installation of UOTTA rapid-swap stations capable of completing full battery exchanges in mere minutes. This breakthrough addresses critical downtime challenges in commercial fleets, enabling drivers to maximize productivity while reducing reliance on traditional charging infrastructure. To amplify accessibility, ELMO is in advanced discussions with Galp, Portugal's leading energy provider, to integrate UOTTA stations into existing service stations.

Leadership Perspectives: A Vision for the Future

Florêncio de Almeida, President of ANTRAL, emphasized the project's transformative potential: "ELMO is poised to redefine the EV market by prioritizing speed and practicality. Imagine replacing a battery faster than refueling a gasoline vehicle—this is the future we're delivering. With our initial order of 150–200 vehicles and Galp's collaboration, we're laying the groundwork for nationwide adoption."

Johnny Lee, CEO of U Power Limited, underscored the partnership's global implications: "By merging U POWER's technical expertise with ANTRAL's market leadership, ELMO isn't just advancing Portugal's green agenda—it's setting a blueprint for cities worldwide. Our UOTTA technology proves that sustainability and efficiency can coexist, even in high-demand sectors like taxis."

About ELMO: A visionary joint venture by ANTRAL and Energy U Limited (A subsidiary of U POWER Limited), ELMO accelerates Portugal's transition to sustainable mobility through electric vehicle innovation and smart infrastructure.

About ANTRAL: Celebrating 50 years as Portugal's leading advocate for road transport innovation, sustainability, and driver welfare. ANTRAL (Associação Nacional dos Transportes Rodoviários em Automóveis Ligeiros) is Portugal's foremost national road transport association, representing over 50,000 professional drivers and taxi operators across the country. Established in 1974, the organization has played a pivotal role in shaping Portugal's mobility policies, advocating for driver rights, and promoting sustainable transport solutions.

About U Power Limited

U Power Limited (Nasdaq: UCAR) is a vehicle sourcing services provider with a vision to become an EV market player primarily focused on its proprietary battery-swapping technology, UOTTA technology. UOTTA is an intelligent modular battery-swapping solution designed to provide comprehensive battery power solutions for EVs. Since its inception in 2013, U Power has established a vehicle sourcing network in China's lower-tier cities, developed multi-types of battery-swapping stations for compatible EVs, and operates a manufacturing facility in Zibo City, Shandong Province, China.

For more information, please visit: https://www.upower-limited.com/

Forward-Looking Statements

This press release contains "forward-looking statements." Forward-looking statements reflect the company's 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 events or circumstances, or changes in its expectations, except as may be required by law.

Although the company believes the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Investors are encouraged to review other factors that may affect future results in the company's registration statement and other filings with the U.S. Securities and Exchange Commission (SEC).

For more information, please visit: https://www.upower-limited.com/

Contact:
U POWER LIMITED
Xing.wang@upower-limited.com 

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SOURCE U Power Limited

FAQ

How many electric vehicles will UCAR deploy in Portugal's taxi sector?

UCAR plans to deploy 150-200 battery-swapping electric vehicles specifically designed for taxi operators in Portugal.

What is the partnership between U Power (UCAR) and Galp in Portugal?

ELMO, U Power's joint venture, is in advanced discussions with Galp to integrate UOTTA battery-swapping stations into Galp's existing service stations across Portugal.

When was the UCAR-ELMO taxi initiative announced?

The initiative was announced at ANTRAL's 50th Anniversary & XVI Taxi Day, held from April 10-13, 2025, at the Lisbon Congress Center.

How long does the UCAR UOTTA battery-swapping process take for taxis?

The UOTTA rapid-swap stations can complete full battery exchanges in just minutes, faster than traditional refueling.