U Power Limited Receives "Beyond Impact Award" at the 5th BEYOND International Technology Innovation Expo in Macau

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U Power Limited (NASDAQ: UCAR), a provider of EV battery-swapping solutions, has received the Beyond Impact Award at the 5th BEYOND International Technology Innovation Expo in Macau. The award recognizes U Power's contributions to environmental sustainability through its UOTTA™-based battery-swapping ecosystem. The company is expanding its operations, with successful implementations in mainland China and Thailand, and plans to launch Hong Kong's first taxi-focused battery-swapping station in June 2025. CEO Johnny Lee highlighted the company's two-fold strategy: expanding into regional markets through joint ventures while developing comprehensive EV solutions aimed at transforming EVs into smart energy grid assets.

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Beyond Impact Award recognizes companies with substantial contributions to the environment, society, economy, and technology, aligning with the UN's Sustainable Development Goals

SHANGHAI, May 27, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of comprehensive electric vehicle (EV) battery-swapping solutions with a vision of becoming a smart energy grid solutions provider, today announced that it has received the Beyond Impact Award at the 5^th BEYOND International Technology Innovation Expo (the "BEYOND Expo"), held from May 21-24, 2025 in Macau.

The BEYOND Expo is Asia's largest gathering of cutting-edge technology companies and the world's foremost tech leaders and pioneering minds under the theme "Empowering Asia, Bridging the World." More than 800 companies exhibited this year, covering a wide range of sectors from AI, HealthTech, Clean Energy and Robotics to Lifestyle Tech, SportsTech, FinTech and more.

The Beyond Impact Award, received by U Power for its advanced battery-swapping comprehensive ecosystem, recognizes companies with substantial contributions to the environment, society, economy, and technology, aligning with the UN's Sustainable Development Goals. This award is part of the broader BEYOND Awards which acknowledges innovations driving meaningful change, and positive impact on society.

Johnny Lee, CEO of U Power, commented, "We are honored that our UOTTA™-based solutions have been recognized by industry experts at this international expo. The receipt of the Beyond Impact Award is an acknowledgement of our efforts into creating a more sustainable world. Our UOTTA battery-swapping and charging ecosystem for EVs enhances driving efficiency, optimizes route planning, and plays a crucial role in supporting the widespread adoption of EVs. 

Following the successful commencement of the commercial operation of our battery-swapping solutions in mainland China and Thailand, we are on track to debuting our first battery-swapping station in Hong Kong in June 2025, which will also mark Hong Kong's first full-service taxi-focused battery-swapping station. We have a two-fold strategy; while we continue to expand our geographic footprint into more regional markets via joint ventures, we are also investing in developing comprehensive solutions for manufactures and drivers of EVs, aiming to transform EVs into dynamic assets for smart energy grids."

About U Power Limited  

U Power is a comprehensive provider of electric vehicle (EV) battery swapping solutions using a 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 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

At U Power Limited
Investor Relations Department
Email: 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

FAQ

What award did U Power Limited (UCAR) receive at the BEYOND Expo 2025?

U Power Limited received the Beyond Impact Award at the 5th BEYOND International Technology Innovation Expo in Macau for its advanced battery-swapping comprehensive ecosystem.

When will U Power (UCAR) launch its first battery-swapping station in Hong Kong?

U Power plans to launch Hong Kong's first taxi-focused battery-swapping station in June 2025.

In which markets does U Power (UCAR) currently operate its battery-swapping solutions?

U Power currently operates its battery-swapping solutions in mainland China and Thailand, with planned expansion into Hong Kong.

What is U Power's (UCAR) current business strategy?

U Power follows a two-fold strategy: expanding into regional markets through joint ventures while developing comprehensive EV solutions to transform EVs into smart energy grid assets.