U Power Limited Expands European Presence with UOTTA Technology Implementation in Portugal
U Power (UCAR) announced that its subsidiary, Energy U , has signed a joint venture agreement with ANTRAL, Portugal's national taxi association, marking a strategic expansion into the European market. Following successful pilot testing of U Power's battery-swapping technology in Portugal, initial operations are starting with 40 vehicles per battery-swapping station.
The joint venture aims to accelerate Portugal's transition to electric mobility by developing an integrated EV ecosystem combining vehicles and battery-swapping infrastructure. The initiative addresses challenges faced by Portuguese taxi operators, including charging infrastructure and battery lifecycle management concerns. Full integration of battery-swapping stations and vehicle deployment is scheduled to begin next year, with plans for nationwide deployment across Portugal in 2025.
U Power (UCAR) ha annunciato che la sua filiale, Energy U, ha firmato un accordo di joint venture con ANTRAL, l'associazione nazionale dei taxi portoghese, segnando un'espansione strategica nel mercato europeo. Dopo il successo dei test pilota della tecnologia di cambio batteria di U Power in Portogallo, le operazioni iniziali partiranno con 40 veicoli per ogni stazione di cambio batteria.
La joint venture mira ad accelerare la transizione del Portogallo verso la mobilit脿 elettrica sviluppando un ecosistema EV integrato che combina veicoli e infrastruttura di cambio batteria. L'iniziativa affronta le sfide che i tassisti portoghesi devono affrontare, tra cui la mancanza di infrastrutture di ricarica e la gestione del ciclo di vita delle batterie. L'integrazione completa delle stazioni di cambio batteria e il dispiegamento dei veicoli 猫 prevista per l'inizio del prossimo anno, con piani per un dispiegamento su base nazionale in Portogallo entro il 2025.
U Power (UCAR) anunci贸 que su filial, Energy U, ha firmado un acuerdo de joint venture con ANTRAL, la asociaci贸n nacional de taxis de Portugal, marcando una expansi贸n estrat茅gica en el mercado europeo. Tras 茅xitosos ensayos piloto de la tecnolog铆a de intercambio de bater铆as de U Power en Portugal, las operaciones iniciales comenzar谩n con 40 veh铆culos por estaci贸n de intercambio de bater铆as.
La joint venture tiene como objetivo acelerar la transici贸n de Portugal hacia la movilidad el茅ctrica desarrollando un ecosistema de veh铆culos el茅ctricos (EV) integrado que combina veh铆culos e infraestructura de intercambio de bater铆as. La iniciativa aborda los desaf铆os que enfrentan los operadores de taxis portugueses, incluyendo la infraestructura de carga y la gesti贸n del ciclo de vida de las bater铆as. Se espera que la integraci贸n completa de las estaciones de intercambio de bater铆as y el despliegue de veh铆culos comience el pr贸ximo a帽o, con planes para un despliegue a nivel nacional en Portugal en 2025.
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U Power (UCAR) a annonc茅 que sa filiale, Energy U, a sign茅 un accord de coentreprise avec ANTRAL, l'association nationale des taxis du Portugal, marquant une expansion strat茅gique sur le march茅 europ茅en. Suite 脿 des tests pilotes r茅ussis de la technologie de changement de batteries de U Power au Portugal, les op茅rations initiales commenceront avec 40 v茅hicules par station de changement de batteries.
La coentreprise vise 脿 acc茅l茅rer la transition du Portugal vers la mobilit茅 茅lectrique en d茅veloppant un 茅cosyst猫me EV int茅gr茅 combinant v茅hicules et infrastructure de changement de batteries. L'initiative r茅pond aux d茅fis auxquels sont confront茅s les op茅rateurs de taxis portugais, notamment les infrastructures de recharge et la gestion du cycle de vie des batteries. L'int茅gration compl猫te des stations de changement de batteries et du d茅ploiement de v茅hicules doit d茅buter l'ann茅e prochaine, avec des plans de d茅ploiement 脿 l'茅chelle nationale au Portugal en 2025.
U Power (UCAR) hat angek眉ndigt, dass ihre Tochtergesellschaft Energy U eine Joint-Venture-Vereinbarung mit ANTRAL, der nationalen Taxivereinigung Portugals, unterzeichnet hat, was eine strategische Expansion in den europ盲ischen Markt darstellt. Nach erfolgreichen Pilottests der Batteriewechseltechnologie von U Power in Portugal beginnen die ersten Operationen mit 40 Fahrzeugen pro Batteriewechselstation.
Das Joint Venture zielt darauf ab, Portugals 脺bergang zur Elektromobilit盲t zu beschleunigen, indem ein integriertes EV-脰kosystem geschaffen wird, das Fahrzeuge und Batteriewechselinfrastruktur kombiniert. Die Initiative geht auf die Herausforderungen ein, mit denen portugiesische Taxibetreiber konfrontiert sind, einschlie脽lich der Infrastruktur f眉r das Laden von Batterien und der Lebenszyklusverwaltung von Batterien. Die vollst盲ndige Integration der Batteriewechselstationen und der Einsatz von Fahrzeugen soll im n盲chsten Jahr beginnen, mit Pl盲nen f眉r einen landesweiten Einsatz in Portugal im Jahr 2025.
- Strategic expansion into European market through joint venture with Portugal's national taxi association
- Successful completion of pilot testing for battery-swapping technology
- Initial deployment of 40 vehicles per battery-swapping station
- Planned nationwide expansion across Portugal in 2025
- None.
Insights
This strategic expansion into Portugal represents U Power's first significant foothold in the European market, though the financial impact appears in the near term. With an initial deployment of just 40 vehicles per station and a relatively small market cap of
The joint venture with ANTRAL provides a structured entry point but faces significant execution risks. Battery swapping infrastructure requires substantial capital investment and U Power's current financial position may limit rapid expansion. The planned nationwide deployment in 2025 will likely require additional funding sources or strategic partnerships to achieve meaningful scale. However, success in Portugal could serve as a valuable reference case for expansion into larger European markets.
For investors, while this development demonstrates promising market validation, the company's small size and early stage of European market entry suggest cautious optimism is warranted. The real value proposition lies in the potential for future expansion rather than immediate financial returns.
The UOTTA battery swapping technology implementation in Portugal addresses a critical market gap in commercial fleet electrification. The taxi sector represents an ideal testing ground for battery swapping infrastructure due to its predictable routes and high utilization rates. The 40-vehicle-per-station metric suggests careful capacity planning, though it's relatively conservative compared to leading battery swap operators in Asia.
The partnership with ANTRAL is strategically sound as it provides direct access to an established network of commercial fleet operators. However, the success of this venture will heavily depend on the operational efficiency of the battery swapping stations and the total cost of ownership benefits for taxi operators. The European market presents unique challenges, including stricter regulatory requirements and different vehicle standardization norms compared to China.
The technology implementation timeline extending into next year indicates a measured approach to market entry, which is prudent given the complexities of establishing new infrastructure systems in a foreign market. This cautious expansion strategy may help avoid the operational pitfalls that have challenged other EV infrastructure providers in Europe.
-Energy U Limited, Subsidiary of U Power, Forms Joint Venture to Deploy Battery Swapping Solutions-
Following successful pilot testing of U Power's battery-swapping technology in
The newly formed venture will focus on accelerating
"This joint venture represents a significant milestone in our European expansion strategy," said Jia Li, Chairman and CEO of U Power. "Building upon our previous collaboration agreement and comprehensive market research, ANTRAL has expressed strong confidence in our taxi fleet battery-swapping solution. We are moving forward with plans for nationwide deployment of battery-swapping taxi services across
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
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
Contact
U Power Limited
Investor Relations Department
Email: ir@upincar.com听
Robin Yang, Partner
ICR, LLC
Email: UPower.IR@icrinc.com
Phone: +1 (212) 475-0415
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