The first agreement between U Power Limited, a provider of complete electric vehicle (“EV”) battery-swapping solutions with the goal of becoming a smart energy grid solutions provider, and an electric service provider in Macau was signed. The agreement aims to make it easier for U Power to deploy and operate its UOTTA battery-swapping stations and cabinets and to sell compatible EVs.
According to the agreement, U Power’s UOTTA smart battery-swapping stations and cabinets in Macau will be installed and maintained by the local ESP. Additionally, U Power will collaborate with the ESP to facilitate the sale and after-sale maintenance of compatible battery-swapping vehicles, such as four-wheeled passenger and commercial vehicles and two-wheeled electric motorcycles, in the Macau market by utilizing its current partnership with UNEX EV B.V., a Netherlands-based new energy and technology company that collaborates with OEM partners to design intelligent battery-swapping vehicles.
In addition to running a matching number of battery-swapping stations and cabinets, the ESP partner anticipates purchasing and reselling to end users around 600 four-wheeled and 5,000 two-wheeled suitable battery-swapping vehicles over a three-year period.
Johnny Lee, CEO and Chairman of U Power, commented, “We are thrilled to announce U Power’s official entry into Macau via the signing of our first local ESP partnership agreement, a significant step forward towards establishing a battery-swapping ecosystem in this key market. We believe the ESP model will help us seize market share in Macau, and we look forward to replicating this model in more regional markets, including Hong Kong SAR and Singapore, thus accelerating U Power’s global expansion plan.”
