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Strategic Collaboration Outlined between U Power and Major Shareholder Chatchaval Jiaravanon

Dec 09, 2024•over 1 year ago

Contract Type

partnership

ShanghaiAutomotive

Description

U Power Limited announced a strategic meeting between CEO Jia Li and Chatchaval Jiaravanon, a major shareholder of the company and a third-generation member of Thailand's Charoen Pokphand Group. The meeting focused on strengthening the partnership established earlier this year through Fortune Light Assets Ltd.'s strategic investment in U Power, with discussions covering key business initiatives including battery asset management, battery-swapping stations, and compatible electric vehicles. Mr. Jiaravanon expressed strong confidence in U Power's development, particularly in the battery bank business model, and has made strategic investments accordingly.

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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