U Power Expands Global Footprint with Strategic Move into Thai Market.
U Power Limited (Nasdaq:Ā UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider inĀ China, today announced that it had signed a Memorandum of Understanding (“MoU”) with Pattaya AI Terminal Co., Ltd. (“Pattaya AI”) to jointly drive the strategic development of green logistics and electric vehicle (“EV”) infrastructure inĀ Thailand.
Combining Pattaya AI’s advantages in logistical solutions with U Power’s proprietary battery-swapping technology, the joint venture will provide electrified solutions for Thailand’s commercial logistics and dedicated passenger transportation markets. U Power will also leverage its expertise to provide commercial EVs compatible with its UOTTA technology and deploy battery swapping and charging stations for commercial EVs in key cities and logistics nodes across Thailand, enhancing logistics chain efficiency. Furthermore, the Parties intend to jointly develop automatic and semi-automatic charging stations compatible with U Power’s vehicles and tailored to the specific needs of the Thai market. During the initial phase of the partnership, U Power will introduce battery swapping technology and compatible EVs. As the partnership matures, U Power intends to locally manufacture battery-swapping commercial vehicles in Thailand. These vehicles will include pickup trucks and light-duty vans for dedicated transportation routes.
Jia Li, Chairman and CEO of U Power, commented:
We are proud to enter into a strategic partnership with Pattaya AI.
“This collaboration leverages our expertise in EV battery solutions and Pattaya AI’s capabilities and resources to address emerging opportunities inĀ Thailand’sĀ evolving EV market. By partnering with Pattaya AI, we aim to revolutionize green logistics, enhanceĀ Thailand’sĀ electric vehicle infrastructure, and build a solid foundation upon which we can pursue future innovations and deliver sustainable shareholder value.”
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U Power Expands Global Footprint with Strategic Move into Thai Market. source
