(RTTNews) - U Power Ltd. (UCAR), a Chinese manufacturer of new energy vehicles and battery swapping stations, Monday announced that its subsidiary U SWAP Company Limited, has entered into a strategic partnership with Whale Logistics Co., Ltd. Of Thailand to promote the deployment of commercial battery-swapping electric trucks in Thailand.
U Power has secured an order for 1,000 battery-swapping electric vehicles with the first delivery of 30 units planned for April 2026.
Through this collaboration, the Company aims to establish a replicable commercial model to accelerate the adoption of U Power's smart battery-swapping solutions in additional markets, the company said in a statement.
Further this partnership is expected to mark the launch of U Power's long-term growth strategy for the deployment of battery-swapping commercial trucks in South East Asia as well.
Currently, UCAR is trading at $1.67, down 0.92% on the Nasdaq.
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