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U Power secures agreement to deploy 300 battery-swapping electric vehicles in Hong Kong

U Power announces the signing of a letter of intent to supply 300 battery-swapping compatible electric vehicles in partnership with a Hong Kong-based technology manufacturer, marking a major milestone for intelligent commercial mobility.

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The provider of intelligent solutions for energy grids and mobility, U Power Limited, has signed a letter of intent with a Hong Kong technology company for the delivery of 300 battery-swapping compatible electric vehicles. This agreement includes the integration of these vehicles into commercial operations, strengthening U Power’s position in the urban mobility market. According to the announced terms, the client, specialised in the design and manufacture of vehicle dashcams, has already paid an initial deposit. The definitive conclusion of the order, however, remains subject to the finalisation of further negotiations and the signing of a firm sales contract.

Operational deployment and incentive system
Once the agreement is finalised, the vehicles will be commercially operated by drivers participating in a new battery-swapping programme. These drivers will access the first smart battery-swapping station recently launched in Hong Kong by U Power Limited. This system will allow users to swap their batteries quickly, with each operation granting them tokens redeemable for electricity tariff credits, establishing a new incentive model for the sector.

Strategic expansion and commercial outlook
The Chief Executive Officer and Chairman of U Power Limited stated that this operation is part of the company’s expansion strategy in Hong Kong and other priority markets. The integration of 300 battery-swapping electric vehicles represents a milestone in the consolidation of U Power Limited’s technological platform, which aims to increase revenue through the sale of smart stations and the provision of battery-swapping services.

The discussions initiated could lead to further commercial collaborations, as the company seeks to establish a network of international partnerships around its solutions for electric mobility and intelligent energy management. According to a spokesperson for the Hong Kong-based client, the prospects of operational optimisation and carbon footprint reduction are among the main motivations for this initiative, in a context of transition towards more efficient urban mobility.

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