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U Power Limited secures $16 million in a private placement subscribed by existing shareholders, aiding in expansion into hydrogen energy solutions and core operations.

PUBLIC · UCARAug 04, 2026•5 days ago

Amount Raised

$16 Million

Round Type

Post-IPO Equity

ShanghaiAutomotive

Description

U Power Limited announced a successful private placement amounting to $16 million, subscribed by four existing shareholders on August 3, 2026. The funds will primarily be used for expanding into hydrogen energy solutions and core operations. The company's board approved the transaction, which was conducted offshore under Regulation S. The closing followed the satisfaction of customary closing conditions.

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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