U Power Signs an MOU with NV Gotion to Supply Swapping-Enabled EV Batteries and Develop Battery-Bank Solutions for Thailand and the Broader ASEAN Markets
U Power (NASDAQ:UCAR) has signed a strategic Memorandum of Understanding (MOU) with NV Gotion to develop and deploy swapping-enabled EV batteries and battery-bank solutions in Thailand and Southeast Asia. The partnership will focus on developing battery modules for various vehicle types, from two-wheelers to heavy-duty trucks.
This agreement adds to U Power's expanding ecosystem in Thailand, which includes partnerships with Pattaya AI Terminal for battery-swapping stations, SUSCO for fueling station locations, and agreements with SAIC, EZZY Transporter, Sumitomo Mitsui, and Auto Drive EV for compatible EVs. The collaboration aims to establish comprehensive battery-bank operations, including battery leasing and vehicle-to-grid (V2G) solutions.
U Power (NASDAQ:UCAR) ha firmato un Memorandum d'Intesa strategico (MOU) con NV Gotion per sviluppare e implementare batterie per veicoli elettrici con tecnologia di scambio rapido e soluzioni di batterie a banco in Thailandia e nel Sud-est asiatico. La collaborazione si concentrer脿 sulla realizzazione di moduli batteria per diversi tipi di veicoli, dai motocicli ai camion pesanti.
Questo accordo si aggiunge all'ecosistema in espansione di U Power in Thailandia, che comprende partnership con Pattaya AI Terminal per stazioni di scambio batterie, SUSCO per le localizzazioni delle stazioni di rifornimento, e accordi con SAIC, EZZY Transporter, Sumitomo Mitsui e Auto Drive EV per veicoli elettrici compatibili. La collaborazione punta a stabilire operazioni complete di batterie a banco, inclusi servizi di leasing batterie e soluzioni vehicle-to-grid (V2G).
U Power (NASDAQ:UCAR) ha firmado un Memorando de Entendimiento estrat茅gico (MOU) con NV Gotion para desarrollar e implementar bater铆as para veh铆culos el茅ctricos con sistema de intercambio r谩pido y soluciones de bancos de bater铆as en Tailandia y el sudeste asi谩tico. La alianza se enfocar谩 en crear m贸dulos de bater铆a para diversos tipos de veh铆culos, desde motocicletas hasta camiones pesados.
Este acuerdo se suma al ecosistema en expansi贸n de U Power en Tailandia, que incluye asociaciones con Pattaya AI Terminal para estaciones de intercambio de bater铆as, SUSCO para ubicaciones de estaciones de combustible, y acuerdos con SAIC, EZZY Transporter, Sumitomo Mitsui y Auto Drive EV para veh铆culos el茅ctricos compatibles. La colaboraci贸n busca establecer operaciones integrales de bancos de bater铆as, incluyendo el arrendamiento de bater铆as y soluciones vehicle-to-grid (V2G).
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鞚� 順戩暯鞚� 韮滉淡鞐愳劀 U Power鞚� 頇曥灔 欷戩澑 靸濏儨瓿勳棎 於旉皜霅橂┌, 鞐赴鞐惖鐢 氚绊劙毽� 甑愴櫂靻岆ゼ 鞙勴暅 Pattaya AI Terminal, 欤检湢靻� 鞙勳箻毳� 鞙勴暅 SUSCO, 攴鸽Μ瓿� 順疙櫂 臧�電ロ暅 鞝勱赴彀ゼ 鞙勴暅 SAIC, EZZY Transporter, Sumitomo Mitsui, Auto Drive EV鞕�鞚� 順戨牓鞚� 韽暔霅╇媹雼�. 鞚措矆 順戨牓鞚� 氚绊劙毽� 鞛勲寑 氚� 彀焿-攴鸽Μ霌� 鞐瓣硠(V2G) 靻旊（靺橃潉 韽暔頃� 膦呿暕鞝侅澑 氚绊劙毽� 氡呿伂 鞖挫榿鞚� 氇╉憸搿� 頃╇媹雼�.
U Power (NASDAQ:UCAR) a sign茅 un protocole d'accord strat茅gique (MOU) avec NV Gotion pour d茅velopper et d茅ployer des batteries de v茅hicules 茅lectriques 脿 茅change rapide et des solutions de banques de batteries en Tha茂lande et en Asie du Sud-Est. Ce partenariat se concentrera sur le d茅veloppement de modules de batteries pour diff茅rents types de v茅hicules, des deux-roues aux poids lourds.
Cet accord vient s'ajouter 脿 l'茅cosyst猫me en expansion de U Power en Tha茂lande, qui comprend des partenariats avec Pattaya AI Terminal pour les stations d'茅change de batteries, SUSCO pour les emplacements des stations-service, ainsi que des accords avec SAIC, EZZY Transporter, Sumitomo Mitsui et Auto Drive EV pour des v茅hicules 茅lectriques compatibles. La collaboration vise 脿 茅tablir des op茅rations compl猫tes de banques de batteries, incluant la location de batteries et des solutions vehicle-to-grid (V2G).
U Power (NASDAQ:UCAR) hat ein strategisches Memorandum of Understanding (MOU) mit NV Gotion unterzeichnet, um in Thailand und S眉dostasien austauschbare EV-Batterien und Batterie-Bank-L枚sungen zu entwickeln und einzusetzen. Die Partnerschaft konzentriert sich auf die Entwicklung von Batteriemodulen f眉r verschiedene Fahrzeugtypen, von Zweir盲dern bis hin zu Schwerlast-Lkw.
Diese Vereinbarung erg盲nzt das wachsende 脰kosystem von U Power in Thailand, das Partnerschaften mit Pattaya AI Terminal f眉r Batterie-Wechselstationen, SUSCO f眉r Tankstellenstandorte sowie Vereinbarungen mit SAIC, EZZY Transporter, Sumitomo Mitsui und Auto Drive EV f眉r kompatible Elektrofahrzeuge umfasst. Die Zusammenarbeit zielt darauf ab, umfassende Batterie-Bank-Betriebe aufzubauen, einschlie脽lich Batterie-Leasing und Vehicle-to-Grid (V2G)-L枚sungen.
- None.
- Agreement is currently only at MOU stage, not a binding contract
- No specific financial terms or timeline details disclosed
- Faces potential competition in rapidly growing Southeast Asian EV market
Insights
U Power's MOU with NV Gotion strengthens its battery-swapping ecosystem in Southeast Asia, expanding its strategic footprint in Thailand's growing EV market.
U Power has signed a strategic MOU with NV Gotion, a vertically integrated battery manufacturer, to jointly develop swapping-enabled EV batteries and battery-bank solutions for Thailand and broader Southeast Asian markets. This partnership will focus on creating battery modules for various vehicle types from two-wheelers to heavy-duty trucks, while establishing comprehensive battery-swapping infrastructure.
This agreement represents another strategic building block in U Power's Thailand expansion, complementing several other partnerships formed over the past year. These include agreements with Pattaya AI Terminal for battery-swapping stations, SUSCO for positioning at fueling stations, and vehicle partnerships with SAIC, EZZY Transporter, Sumitomo Mitsui, and Auto Drive EV.
The NV Gotion partnership addresses a critical component in U Power's ecosystem - securing reliable battery supplies through a partner with end-to-end capabilities from raw material mining to manufacturing and recycling. This vertical integration is particularly valuable in the battery-swapping model, where standardized, high-quality batteries are essential for system reliability.
For U Power, this MOU potentially accelerates its transition from simply providing EV battery-swapping solutions to becoming a broader smart energy grid solutions provider. The partnership's focus on vehicle-to-grid (V2G) applications suggests U Power is positioning itself at the intersection of transportation and energy infrastructure, where swappable batteries can serve both vehicle mobility and grid stabilization functions.
Thailand represents a strategic market for this technology, with its growing EV adoption and government support for electrification. By establishing a comprehensive ecosystem of partners spanning infrastructure, fuel station networks, vehicle manufacturers, and now battery production, U Power is creating significant entry barriers for competitors while addressing the complete value chain of EV adoption challenges.
Specifically, pursuant to the MOU, both parties will establish a strategic partnership to jointly develop battery modules and packs for a variety of EVs including two- and three-wheelers, pickup trucks, vans, light-duty trucks, as well as heavy-duty trucks and establish a battery-swapping infrastructure in
Of note, over the last year, U Power has signed several MOUs and joint ventures aiming to create an ecosystem comprised of battery-swapping stations (agreement with Pattaya AI Terminal Co., Ltd) strategically positioned at fueling stations (agreement with SUSCO Public Company Limited (BK: SUSCO)), to support a variety of compatible EVs (agreements with SAIC, EZZY Transporter, Sumitomo Mitsui and Auto Drive EV Public Co.) throughout
Johnny Lee, CEO and Chairman of U Power commented, "We are excited to partner with NV Gotion, a vertically integrated battery company spanning the entire value chain from mining of raw materials to battery manufacturing, and battery recycling. This partnership strengthens our capabilities in addressing a growing demand for a reliable supply of compatible EV batteries in the
About NV Gotion Co., LTD
NV Gotion Co., LTD is a strategic joint venture between Thailand鈥揵ased Nuovo Plus (a subsidiary of PTT Group,
About U Power Limited
U Power is a comprehensive provider of electric vehicle (EV) battery swapping solutions using its proprietary modular battery-swapping technology, UOTTA鈩�. U Power manufactures and sells different models of UOTTA battery-swapping stations for EVs, and sells and rents battery swap cabinets to two-wheeled vehicle drivers. U Power also provides battery-swapping services for vehicle drivers and station control system upgrading services for battery-swapping station owners.
Through investments in next-generation technologies, U Power is on track of becoming a comprehensive solutions provider for smart energy grids. Expanding on its UOTTA technology platform, the Company is investing in building intelligent ecosystems that integrate resilient AI driven solutions able to transform electric vehicles (EVs) into dynamic energy assets.
For more information, please visit the Company's website: .
Safe Harbor Statements
This press release contains "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 statements and other filings with the
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FAQ
What is the purpose of U Power's MOU with NV Gotion?
What types of vehicles will UCAR's battery solutions support in Thailand?
Who are U Power's other strategic partners in Thailand?
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Why did UCAR choose NV Gotion as a strategic partner?
