U Power, Ezzy Transporter Form JV To Introduce UOTTA Battery-Swapping Solutions To Thailand

(RTTNews) - U Power Ltd. (UCAR), Wednesday announced the plan to establish a joint venture along with Ezzy Transporter (Thailand) Co. for market expansion and sale of electric car vehicles in Thailand.

The joint venture, named Greendrive Tech Co. Ltd., will focus on introducing UOTTA battery-swapping technology into a diverse fleet of custom vehicles in Thailand.

The venture's initial production run, scheduled to be completed in 2025, targets to deliver 2,000 custom-built taxis and multipurpose pickup trucks equipped with UOTTA technology.

In the pre-market hours, U Power's stock is trading at $3.84, down 8.33 percent on the Nasdaq.