With the goal of becoming a smart energy grid solutions provider, U Power Limited, a provider of complete electric vehicle (“EV”) battery-swapping solutions, announced the signing of a Memorandum of Understanding (the “MOU”) with Beijing Foton International Trade Co., Ltd. (“Beijing Foton”), a wholly-owned subsidiary of Beijing Foton Motor Co., Ltd., one of China’s top commercial vehicle manufacturers.
The two parties will work together to promote battery-swapping compatible electric heavy trucks, buses, and vans in the Southeast Asian, South American, Hong Kong Special Administrative Region, and Macau Special Administrative Region markets in accordance with the MOU. U Power will offer technical assistance to allow Beijing Foton cars to be equipped with battery-swapping capabilities, to design and test battery-swapping stations for electric vehicle models, and to link vehicles to its battery-bank ecosystem. Beijing Foton will also collect and disseminate performance data, including records of battery charging, health, and capacity. The agreement could be extended by both sides to include future chances for collaboration.
Johnny Lee, CEO and Chairman of U Power commented, “This partnership marks another significant step forward in our strategy of expanding OEM partner base. Through joint promotional and sales efforts, U Power expects to accelerate the establishment of a comprehensive battery-swapping and battery-bank ecosystem in several of its existing key markets. We look forward to a strong collaboration with Beijing Foton to strategically expand our global footprint and increase our market share.”
