SHANGHAI, June 3, 2024
/PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U
Power"), a vehicle sourcing services provider with a vision to
becoming a comprehensive electric EV battery power solution
provider in China, today announced
a follow-on purchase order from a major taxi operator in
Jilin, China.
The follow-on order is for the purchase of U Power's advanced
dual-mode intelligent battery swapping stations, which feature
separate robotic guided vehicles (RGVs) for battery removal and
installation. This innovation significantly reduces the battery
swapping time from between three to five minutes to two to three
minutes. Furthermore, the maintenance cycle of the swapping
stations has been optimized, reducing weekly maintenance time by
around six hours and enhancing operational efficiency by
approximately 15%.
Jia Li, Chairman and CEO of U
Power, commented, "We are delighted that our strategic customer in
Jilin, the largest battery
swapping taxi operator in the region, has reaffirmed its trust in
our UOTTA technology. The decision to procure our latest dual-mode
intelligent battery swapping stations is a resounding endorsement
of the reliability and efficiency of our solutions. Since adopting
our technology in 2023, the customer has made significant cost
savings in its daily operations. This follow-on order underscores
the tangible value our innovative battery swapping solutions bring
to our customers. We look forward to further strengthening our
collaboration and driving sustainable growth in the electric
vehicle sector."
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 China's lower-tier
cities. The Company has developed two types of battery-swapping
stations for compatible EVs and is operating one manufacturing
factory in Zibo City, Shandong
Province, China. For more
information, please visit the Company's website:
http://ir.upincar.com/.
Safe Harbor Statements
This press release may contain "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 U.S. Securities and Exchange Commission.
Contact
U Power Limited
Investor Relations Department
Email: ir@upincar.com
Robin Yang, Partner
ICR, LLC
Email: UPower.IR@icrinc.com
Phone: +1 (212) 475-0415
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SOURCE U Power Limited
