Building on its exclusive UOTTATM EV battery-swapping technology, U Power Limited, a supplier of AI-powered solutions for intelligent transportation systems and next-generation energy grids, announced the signing of a Memorandum of Understanding and Business Cooperation Agreement with IoTeX, a cutting-edge blockchain platform dedicated to turning machine-generated data into collective intelligence for AI.
IoTex will buy Real-World Assets (RWAs), which are issued by U Power and secured by corporate bonds, in accordance with the provisions of the Strategic Partnership. It is anticipated that the Strategic Partnership would fortify U Power’s finance structure, facilitate the ongoing advancement and growth of its in-house EV battery-swapping technology, UOTTATM, and quicken the rollout of Web 3.0 AI-powered energy and transportation system solutions.
Both parties will aggressively investigate novel approaches for tokenizing these RWAs in accordance with the conditions of the Strategic Partnership, integrating cutting-edge AI technology to guarantee safe, scalable, and effective asset development. The collaboration highlights a mutual dedication to technological innovation, sustainable development, and the use of blockchain-based finance (DeFi) to facilitate scalable real-world applications.
Johnny Lee, CEO and Chairman of U Power, commented, “This partnership with IoTeX supports U Power’s Web 3.0 initiative for the expansion of our battery-token and battery-bank operations. The tokenization of RWAs and integration of our AI-empowered smart battery-swapping stations with a decentralized IoT infrastructure offer real-time asset (battery) tracking, continually monitored for safety, energy efficiency, and performance. This partnership is expected to accelerate our long-term mission of creating a comprehensive and sustainable battery-swapping ecosystem.”
HabitTrade, a worldwide multi-asset trading and infrastructure platform, facilitates the partnership by acting as the structuring and execution agent for this integration of tokens and equities. To guarantee a seamless, legal, and effective transaction for both parties, HabitTrade offers technical and strategic help.
