U Power, Beijing Foton To Jointly Promote Battery-swapping Compatible Electric Heavy Trucks, Buses

(RTTNews) - U Power (UCAR) announced the signing of a Memorandum of Understanding with Beijing Foton International Trade Co., a subsidiary of Beijing Foton Motor, a commercial vehicle manufacturer in China. The two parties will jointly promote battery-swapping compatible electric heavy trucks, buses and vans in the Southeast Asia, South America, Hong Kong SAR, and Macau SAR markets.

U Power will provide technological support to enable incorporation of battery-swapping capabilities on Beijing Foton vehicles, development and testing of battery-swapping stations to serve electric vehicle models, as well as connection of vehicles with its battery-bank ecosystem.

Johnny Lee, CEO and Chairman of U Power, said: "Through joint promotional and sales efforts, U Power expects to accelerate the establishment of a comprehensive battery-swapping and battery-bank ecosystem in several of its existing key markets."