U Power subsidiary enters joint venture pact to commence operations in Portugal

U Power (UCAR) announced its wholly-owned subsidiary, Energy U, has signed a joint venture agreement with Associacao Nacional dos Transportes Rodoviarios em Automoveis Ligeiros, Portugal’s national taxi association representing public passenger road transport companies operating light vehicles. Following successful pilot testing of U Power’s battery-swapping technology in Portugal, initial operations are commencing with 40 vehicles per battery-swapping station. Full integration of the battery-swapping stations and vehicle deployment is scheduled to begin next year, marking a significant milestone in establishing U Power’s presence in the European electric vehicle market.