U Power signs EUR540K sales agreement for 20 electric vans in Europe

U Power (UCAR) has signed an initial sales agreement with Polestar Energy, a Spanish company specialized in sustainable and innovative energy solutions, for the purchase and deployment of twenty UOTTA battery-swapping Geely Farizon-UNEX electric vans and a supporting semi-autonomous three-slot smart battery-swapping station, valued at EUR540K, for the Southern European market. This sales agreement with Polestar Energy marks U Power’s first ever order in Europe pertaining to electric vans and dedicated battery-swapping stations. U Power will deliver twenty Geely Farizon-UNEX electric vans, a battery-swappable model co-developed with UNEX EV, to Polestar Energy for deployment initially in Italy. This initial order also includes a supporting three-slot smart battery-swapping station. The parties intend to expand their collaboration, potentially adding up to 2,000 additional vans and a proportionate number of battery-swapping stations to gradually expand operations in Spain, Portugal, and Albania. Earlier this year, U Power established a joint venture with Associacao Nacional dos Transportes Rodoviarios em Automoveis Ligeiros to deliver a number of battery swapping stations able to service 150-200 electric vehicles for taxi drivers in Portugal.