U Power Ltd. (UCAR), a Chinese manufacturer of new energy vehicles and battery swapping stations, Monday announced that its subsidiary U SWAP Company Limited, has entered into a strategic partnership with Whale Logistics Co., Ltd. Of Thailand to promote the deployment of commercial battery-swapping electric trucks in Thailand.
U Power has secured an order for 1,000 battery-swapping electric vehicles with the first delivery of 30 units planned for April 2026.
Through this collaboration, the Company aims to establish a replicable commercial model to accelerate the adoption of U Power's smart battery-swapping solutions in additional markets, the company said in a statement.
Further this partnership is expected to mark the launch of U Power's long-term growth strategy for the deployment of battery-swapping commercial trucks in South East Asia as well.
Currently, UCAR is trading at $1.67, down 0.92% on the Nasdaq.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.