U Power Limited (UCAR), Wednesday announced a Memorandum of Understanding with NV Gotion Co., Ltd to deploy swapping-enabled EV batteries, and develop battery-bank solutions for compatible EVs in Thailand and the broader Southeast Asia region.
As per the deal, both companies will establish a strategic partnership to jointly develop battery modules and packs for a variety of EVs including two- and three-wheelers, pickup trucks, vans, light-duty trucks, as well as heavy-duty trucks and establish a battery-swapping infrastructure in Thailand.
Additionally, they will jointly develop comprehensive battery-bank operations to support this infrastructure, including battery leasing and vehicle-to-grid solutions.
In the pre-market hours, U Power's stock is trading at $3.77 on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.