-Energy U Limited, Subsidiary of U Power, Forms Joint Venture to Deploy Battery Swapping Solutions-

SHANGHAI, Jan. 6, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced its wholly-owned subsidiary, Energy U Limited, has signed a joint venture agreement with Associação Nacional dos Transportes Rodoviários em Automóveis Ligeiros ("ANTRAL"), Portugal's national taxi association representing public passenger road transport companies operating light vehicles, marking the Company's strategic advancement in the European market.

Strategic Partnership Aims to Revolutionize South American Ride-Hailing

SHANGHAI, Oct. 21, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) ("U Power" or "the Company"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced the signing of a Memorandum of Understanding with Ualabee Corp., a leading South American mobile travel platform. The strategic partnership aims to integrate U Power's proprietary UOTTA battery-swapping technology into Ualabee's ride-hailing services across South America, marking a significant step in the Company's global expansion strategy.

SHANGHAI, Oct. 8, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced its financial results for the six months ended June 30, 2024.

Mr. Jia Li, Chief Executive Officer and Chairman of the Board of Directors of the Company, commented, "In the first half of fiscal year 2024, our business achieved 595.7% year-over-year revenue growth to reach RMB13.2 million. This growth stemmed from increased orders from both existing clients and new customers for our battery-swapping stations as the economy continued to gradually recover following the COVID-19 pandemic. We've been successful in transforming our vehicle sourcing business to provide EV battery power solutions in China. We believe that this shift has enhanced our competitiveness, and we expect it to expand our future revenue growth potential."