- UOTTA Two-Wheeler and Three-Wheeler
Battery Swapping Solutions Selected by Treep Mobility Group
S.A.C.-
SHANGHAI, Jan. 23,
2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR)
(the "Company" or "U Power"), a vehicle sourcing services provider
with a vision to becoming a comprehensive EV battery power solution
provider in China, today announced
that its UOTTA battery-swapping technology for two-wheeler and
three-wheeler electric vehicles has been selected by Treep Mobility
Group S.A.C. ("Treep Mobility"), a leading Moto Taxi operator in
Peru.
U Power has successfully completed the pilot deployment in
Peru, which includes 2 operational
battery-swapping stations, 1 three-wheeler and 10 two-wheeler
electric vehicles. Following this successful pilot, Treep Mobility
plans to convert its fleet of traditional fuel-powered vehicles to
UOTTA's battery-swapping model, with total orders expected to
exceed US$1 million.
Treep Mobility strongly endorses UOTTA's shared battery-swapping
model, recognizing its ability to maintain operational hours and
revenue when transitioning from traditional fuel vehicles to
electric vehicles, while reducing operating costs by 30-40%
compared to fuel vehicles. This green and economical transportation
solution aligns with environmental development trends.
The UOTTA solution integrates AI technology through its cloud
platform and station control system, effectively predicting
customer demand and optimizing charging and swapping efficiency to
enhance overall operational efficiency. The AI technology also
provides targeted solutions based on operational data analysis of
vehicles and swapping stations.
"The Moto Taxi market represents an enormous opportunity in
Peru and South America," said Jia Li, Chairman and CEO of U Power.
"Peru alone has over 100,000
registered Moto Taxis, and South
America adds more than 300,000 new electric three-wheeler
and two-wheeler motorcycles annually. Treep Mobility's partnership
demonstrates that the battery-swapping model is a more economical,
convenient, and profitable choice for companies using three-wheeler
and two-wheeler motorcycles in passenger transport and delivery
services. We believe more companies like Treep Mobility in
South America will partner with
us, driving sustainable business growth."
About U Power Limited
U Power Limited is a vehicle sourcing services provider, with a
vision to becoming an EV market player primarily focused on its
proprietary battery-swapping technology, or UOTTA technology, which
is an intelligent modular battery-swapping technology designed to
provide a comprehensive battery power solution for EVs. Since its
operation in 2013, the Company has established a vehicle sourcing
network in China's lower-tier
cities. The Company has developed two types of battery-swapping
stations for compatible EVs and is operating one manufacturing
factory in Zibo City, Shandong
Province, China. For more
information, please visit the Company's website:
http://ir.upincar.com/.
Forward-Looking 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 statement and other
filings with the U.S. Securities and Exchange Commission.
Contact
U Power Limited
Investor Relations Department
Email: ir@upincar.com
Robin Yang, Partner
ICR, LLC
Email: UPower.IR@icrinc.com
Phone: +1 (212) 475-0415
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SOURCE U Power Limited