U Power Enters Preliminary Deal to Develop EV Infrastructure in Thailand

MT Newswires Live07-03

U Power (UCAR) said Wednesday it signed a preliminary agreement with Pattaya AI Terminal to jointly develop green logistics and electric vehicle infrastructure in Thailand.

Under the memorandum of understanding, U Power said the joint venture will provide electrified solutions for Thailand's commercial logistics and dedicated passenger transportation markets.

Both parties also plan to jointly develop automatic and semi-automatic charging stations compatible with U Power's vehicles and for the Thai market, U Power said.

The company said it will introduce its battery swapping technology in the initial phase of the partnership and ultimately plans to produce battery-swapping commercial vehicles in Thailand.

U Power shares were up nearly 10% in recent premarket activity.

Price: 7.41, Change: +0.67, Percent Change: +9.94

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