U Power Partners with Shandong Hi-Speed New Energy Group and BOCOM International to Scale Battery-Swapping in Hong Kong and Accelerate International Expansion
U Power (NASDAQ:UCAR) has signed a Memorandum of Understanding with Shandong Hi-Speed New Energy Group (HKEX:1250) and BOCOM International (HKEX:3329) to establish an EV battery-swapping ecosystem in Hong Kong. The partnership aims to build and operate 50 smart battery-swapping stations across Hong Kong's core taxi operating areas.
Under the agreement, SHNE will invest in station construction, BOCOM will provide financing solutions, and U Power will deliver technical and operational support. The company has also introduced Battery-Token, a Web 3.0 blockchain-based solution. The partnership plans to explore similar cooperation models in Thailand and Portugal.
U Power (NASDAQ:UCAR) ha firmato un Memorandum d'Intesa con Shandong Hi-Speed New Energy Group (HKEX:1250) e BOCOM International (HKEX:3329) per creare un ecosistema di sostituzione batterie per veicoli elettrici a Hong Kong. La partnership mira a costruire e gestire 50 stazioni intelligenti di sostituzione batterie nelle principali aree operative dei taxi di Hong Kong.
Secondo l'accordo, SHNE investirà nella costruzione delle stazioni, BOCOM fornirà soluzioni finanziarie e U Power offrirà supporto tecnico e operativo. L'azienda ha inoltre introdotto Battery-Token, una soluzione basata su blockchain Web 3.0. La partnership prevede di esplorare modelli di cooperazione simili in Thailandia e Portogallo.
U Power (NASDAQ:UCAR) ha firmado un Memorando de Entendimiento con Shandong Hi-Speed New Energy Group (HKEX:1250) y BOCOM International (HKEX:3329) para establecer un ecosistema de intercambio de baterías para vehículos eléctricos en Hong Kong. La alianza busca construir y operar 50 estaciones inteligentes de intercambio de baterías en las principales zonas de operación de taxis de Hong Kong.
Según el acuerdo, SHNE invertirá en la construcción de las estaciones, BOCOM proporcionará soluciones financieras y U Power ofrecerá soporte técnico y operativo. La compañía también ha lanzado Battery-Token, una solución basada en blockchain Web 3.0. La alianza planea explorar modelos de cooperación similares en Tailandia y Portugal.
U Power (NASDAQ:UCAR)는 Shandong Hi-Speed New Energy Group (HKEX:1250) 및 BOCOM International (HKEX:3329)과 협약서(Memorandum of Understanding)를 체결하여 홍콩에서 전기차 배터리 교체 생태계를 구축합니다. 이 파트너십은 홍콩의 주요 택시 운행 지역에 50개의 스마트 배터리 교체 스테이션을 설치하고 운영하는 것을 목표로 합니다.
협약에 따라 SHNE는 스테이션 건설에 투자하고, BOCOM은 금융 솔루션을 제공하며, U Power는 기술 및 운영 지원을 담당합니다. 또한 회사는 Web 3.0 블록체인 기반 솔루션인 Battery-Token을 도입했습니다. 이 파트너십은 태국과 포르투갈에서도 유사한 협력 모델을 모색할 계획입니다.
U Power (NASDAQ:UCAR) a signé un protocole d'accord avec Shandong Hi-Speed New Energy Group (HKEX:1250) et BOCOM International (HKEX:3329) pour établir un écosystème d'échange de batteries pour véhicules électriques à Hong Kong. Le partenariat vise à construire et exploiter 50 stations intelligentes d'échange de batteries dans les principales zones d'exploitation des taxis à Hong Kong.
Selon l'accord, SHNE investira dans la construction des stations, BOCOM fournira des solutions de financement, et U Power apportera un soutien technique et opérationnel. L'entreprise a également lancé Battery-Token, une solution basée sur la blockchain Web 3.0. Le partenariat prévoit d'explorer des modèles de coopération similaires en Thaïlande et au Portugal.
U Power (NASDAQ:UCAR) hat eine Absichtserklärung mit Shandong Hi-Speed New Energy Group (HKEX:1250) und BOCOM International (HKEX:3329) unterzeichnet, um ein Ökosystem für den Austausch von EV-Batterien in Hongkong aufzubauen. Die Partnerschaft plant den Bau und Betrieb von 50 intelligenten Batteriewechselstationen in den wichtigsten Taxi-Betriebsgebieten Hongkongs.
Im Rahmen der Vereinbarung wird SHNE in den Bau der Stationen investieren, BOCOM wird Finanzierungslösungen bereitstellen, und U Power wird technische und operative Unterstützung leisten. Das Unternehmen hat zudem Battery-Token eingeführt, eine auf Web 3.0 Blockchain basierende Lösung. Die Partnerschaft plant, ähnliche Kooperationsmodelle in Thailand und Portugal zu erkunden.
- Strategic partnership with two established Hong Kong-listed companies for market expansion
- Planned deployment of 50 battery-swapping stations in Hong Kong's key taxi areas
- Introduction of innovative Battery-Token solution using Web 3.0 blockchain technology
- Potential expansion opportunities in Thailand and Portugal markets
- MOU status indicates preliminary agreement, not a binding contract
- No specific timeline or investment amounts disclosed for the project
- No mention of regulatory approvals or permits secured for implementation
Insights
U Power's strategic partnership to deploy 50 battery-swap stations in Hong Kong marks significant expansion with institutional backing.
U Power's new MOU with Shandong Hi-Speed New Energy Group and BOCOM International represents a structured approach to scaling their battery-swapping technology in the strategically important Hong Kong market. The partnership intelligently distributes responsibilities: SHNE will finance the physical infrastructure, BOCOM will provide specialized financing solutions, while U Power contributes its technical expertise and operational capabilities.
The target of 50 battery-swapping stations specifically positioned in core taxi operating areas demonstrates a focused implementation strategy rather than a diffuse approach. This indicates a clear understanding of priority use cases - commercial fleet vehicles like taxis that require minimal downtime and operate on predictable routes, making them ideal candidates for battery-swapping technology.
What's particularly noteworthy is the introduction of their Battery-Token system utilizing blockchain technology. This suggests a sophisticated approach to tracking battery assets, managing charging cycles, and potentially creating economic incentives within their ecosystem. The Web 3.0 component could enable transparent battery authentication, usage history, and possibly even tokenized ownership models that improve capital efficiency.
The exploration of similar models in Thailand and Portugal indicates a template-based expansion strategy that could be replicated across diverse markets. By establishing this three-party cooperation framework with specialized partners handling distinct aspects of the ecosystem, U Power is creating a potentially scalable business model that addresses both infrastructure and financing challenges simultaneously.
Exploring Similar Cooperation Models for Other Regions Including Thailand and
The goal for this partnership is to build, install and operate a total of 50 smart, zero carbon battery-swapping stations in
U Power's ultimate goal for the
Johnny Lee, CEO and Chairman of U Power commented, "Over the last year, we have established an ecosystem of strong partners … from taxi operators, to car manufacturers, EV battery builders, clean energy service providers, and financing entities… which allows us to quickly move forward with our ambitious business plan in several markets. Through the cooperation with SHNE and BOCOM, we are making significant progress in one of our key markets,
About Shandong Hi-Speed New Energy Group Limited
Shandong Hi-Speed New Energy Group Limited (HKEX: 1250) engages in investment, development, construction, operation, and management of photovoltaic power, wind power, and clean heat supply service businesses. SHNE fully leverages on the advantageous resources and experienced management team of its two substantial shareholders, Shandong Hi-Speed Holdings Group Limited (00412.HK) and Beijing Enterprises Water Group Limited (00371.HK) and rapidly develops into a leading new energy enterprise. SHNE's clean energy projects locate in more than 20 provinces and cities across
About BOCOM International Holdings Company Limited
BOCOM International Holdings Company Limited (HKEX:3329) is an investment holding company, provides securities brokerage, margin financing, corporate finance and underwriting, investment and loans, asset management, and advisory businesses. It is the only integrated platform for securities and related financial services of Bank of Communications Co., Ltd. in
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
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
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