Business
U Power Limited Announces Follow-on Purchase Order of Battery Swapping Station by Major Taxi Operator in Jilin, China
SHANGHAI, June 3, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to
About this update from U Power Limited
[{"type":"text","content":"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.\n\nThe 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%.\nJia 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.\"\nAbout U Power Limited\nU 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/.\nSafe Harbor Statements \nThis press release may contain \"forward-looking statements\". ...