Building on its proprietary UOTTA™ electric vehicle (EV) battery-swapping technology, U Power Limited, a provider of AI-powered solutions for next-generation energy grids and intelligent transportation systems, announced the signing of a Letter of Intent with a Hong Kong-based dashcam designer and manufacturer to introduce battery-swapping-compatible vehicles to the market.
The client will buy 300 MGEP swappable-battery-compatible EVs in accordance with the provisions of the LOI. Although the client has already paid the first deposit, the order’s fulfillment is still pending additional discussions and the signing of a final sales contract.
Once we sign the contract and deliver the orders, we will put these vehicles into commercial use. To switch batteries effectively, participating drivers will make use of U Power’s newly opened first smart battery-swapping station in Hong Kong. With every battery switch, drivers will receive tokens that can be exchanged for electricity tariff credits, establishing a new system of incentives and encouraging environmentally friendly use.
“We are pleased to take this important first step with U Power toward accelerating the adoption of battery-swapping electric vehicles in Hong Kong,” stated a spokesperson for the client. “As a technology-driven company committed to operational efficiency and environmental responsibility, we see strong potential in U Power’s innovative battery-swapping ecosystem. We want to drastically lower our carbon footprint and increase driver productivity by bringing swappable-battery EVs to the Hong Kong market. We look forward to deepening this collaboration and exploring more possibilities as Hong Kong moves toward smarter, greener mobility.”
Johnny Lee, CEO and Chairman of U Power, commented, “Following the successful deployment of Hong Kong’s first smart battery-swapping station in June, we are now working with our partners and clients to bring 300 compatible EVs into the market, an important milestone that underscores our technological leadership and market presence. Our advanced battery-swapping platform is designed to scale rapidly, enabling us to transform our robust pipeline of global partnerships into tangible and diversified revenue streams, not just from the sale and deployment of smart stations but also from battery-swapping services. As we accelerate our expansion in Hong Kong SAR and other strategic markets, we remain committed to driving innovation and delivering smarter, cleaner, and more efficient mobility solutions. Further updates on our progress will follow as we continue to execute on our growth strategy.”
Electrify your feed! Click here to join our Whatsapp group and to get the latest updates, expert insights, and innovations driving India’s energy storage revolution.
