U Power jumps after announcing a strategic move into the Thai market

seekingalpha07-03

U Power Limited (NASDAQ:UCAR) announced on Wednesday that it had signed a memorandum of understanding with Pattaya AI Terminal to jointly drive the strategic development of green logistics and ...

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The company expects the joint venture will provide electrified solutions for Thailand's commercial logistics and dedicated passenger transportation markets by combining Pattaya AI's advantages in logistical solutions with U Power's (UCAR) own proprietary battery-swapping technology, the joint venture will provide electrified solutions for Thailand's commercial logistics and dedicated passenger transportation markets. U Power (UCAR) anticipates that it will leverage its expertise to provide commercial EVs compatible with its UOTTA technology and deploy battery swapping and charging stations for commercial EVs in key cities and logistics nodes across Thailand. Notably, the joint venture partners parties intend to jointly develop automatic and semi-automatic charging stations compatible with U Power's (UCAR) vehicles and tailored to the specific needs of the Thai market. 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