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U Power Limited Announces Follow-on Purchase Order of Battery Swapping Station by Major Taxi Operator in Jilin, China

U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced a follow-on purchase order from a major taxi operator in Jilin, China.

The follow-on order is for the purchase of U Power’s advanced dual-mode intelligent battery swapping stations, which feature separate robotic guided vehicles (RGVs) for battery removal and installation. This innovation significantly reduces the battery swapping time from between three to five minutes to two to three minutes. Furthermore, the maintenance cycle of the swapping stations has been optimized, reducing weekly maintenance time by around six hours and enhancing operational efficiency by approximately 15%.

Jia Li, Chairman and CEO of U Power, commented, “We are delighted that our strategic customer in Jilin, the largest battery swapping taxi operator in the region, has reaffirmed its trust in our UOTTA technology. The decision to procure our latest dual-mode intelligent battery swapping stations is a resounding endorsement of the reliability and efficiency of our solutions. Since adopting our technology in 2023, the customer has made significant cost savings in its daily operations. This follow-on order underscores the tangible value our innovative battery swapping solutions bring to our customers. We look forward to further strengthening our collaboration and driving sustainable growth in the electric vehicle sector.”