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U Power Limited and FTT Holding Announce Joint Venture with $50 Million Investment for Southern Europe Expansion.

Dec 16, 2025•6 months ago

Contract Type

partnership

ShanghaiAutomotive

Description

U Power Limited has signed a Letter of Intent with FTT Holding to establish a strategic joint venture focusing on expansion in Southern Europe. FTT Holding will invest up to $50 million to support U Power’s initiatives, including the development of smart EV charging and next-generation energy infrastructures.

Company Information

Company

U Power Limited

Location

Shanghai, Shanghai, China

About

U 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/.

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Based on industry data
Strategic partnership established
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