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U Power Limited develops, manufactures, and sells new energy vehicles and battery swapping stations in the People's Republic of China. It also offers battery swapping and sourcing services. The company was founded in 2013 and is based in Shanghai, the People's Republic of China.

U Power Limited

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FTT HOLDING TO COMMIT UP TO $50 MILLION INTO THE JOINT VENTURE SHANGHAI , DEC. 16, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS AND, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THE SIGNING OF A LETTER OF INTENT ("LOI") WITH FTT HOLDING COMPANY LLC ("FTT HOLDING"), A US-BASED TECHNOLOGY FOCUSED INVESTMENT FIRM, FOR THE ESTABLISHMENT OF A STRATEGIC JOINT VENTURE ("JV") AIMED AT ACCELERATING THE COMPANY'S EXPANSION IN SOUTHERN EUROPE. UNDER THE TERMS OF THE LOI, FTT HOLDING PLANS TO INVEST UP TO $50 MILLION INTO THE JV, ONCE ESTABLISHED.

U POWER AND FTT HOLDING TO ESTABLISH A JOINT VENTURE TO ACCELERATE EXPANSION IN SOUTHERN EUROPE

ADVANCING BATTERY-SWAPPING SOLUTIONS IN MAJOR INTERNATIONAL MARKETS SHANGHAI , DEC. 9, 2025 /PRNEWSWIRE/ --U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS AND, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ISSUES A CEO'S LETTER TO SHAREHOLDERS. DEAR U POWER SHAREHOLDERS, WE ARE EXCITED TO ISSUE OUR FIRST SHAREHOLDER LETTER, TO RECAP OUR 2025 YEAR-END KEY BUSINESS UPDATES IN MAJOR INTERNATIONAL MARKETS, AND TO SHARE THE PROGRESS TOWARD OUR MISSION OF REVOLUTIONIZING THE ELECTRIC VEHICLE (EV) ECOSYSTEM THROUGH SCALABLE, EFFICIENT, AND SUSTAINABLE BATTERY-SWAPPING TECHNOLOGIES.

U POWER PROVIDES 2025 YEAR-END KEY BUSINESS UPDATES IN CEO'S LETTER TO SHAREHOLDERS

U POWER EXPECTS ADDITIONAL ORDERS FOR UP TO 2,000 ELECTRIC VANS AND COMPATIBLE BATTERY-SWAPPING STATIONS IN THE FUTURE SHANGHAI , OCT. 21, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT IT HAS SIGNED AN INITIAL SALES AGREEMENT WITH POLESTAR ENERGY S.L. ("POLESTAR ENERGY"), A SPANISH COMPANY SPECIALIZED IN SUSTAINABLE AND INNOVATIVE ENERGY SOLUTIONS, FOR THE PURCHASE AND DEPLOYMENT OF TWENTYUOTTA BATTERY-SWAPPING GEELY FARIZON-UNEX ELECTRIC VANS AND A SUPPORTING SEMI-AUTONOMOUS THREE-SLOT SMART BATTERY-SWAPPING STATION, VALUED AT 540,000, FOR THE SOUTHERN EUROPEAN MARKET.

U POWER SIGNS INITIAL 540,000 SALES AGREEMENT WITH POLESTAR ENERGY FOR THE PURCHASE AND DEPLOYMENT OF TWENTY BATTERY-SWAPPING ELECTRIC VANS IN SOUTHERN EUROPE

- H1 2025 NET REVENUES INCREASED 34.4% TO RMB17.7 MILLION - H1 2025 GROSS PROFIT INCREASED 551.5% TO RMB8.4 MILLION - CASH AND CASH EQUIVALENTS OF RMB22.7 MILLION AS OF JUNE 30, 2025 POSITIONED TO TAKE ADVANTAGE OF INCREASING DEMAND FOR GREEN AND SUSTAINABLE TRANSPORTATION SOLUTIONS  SHANGHAI , OCT. 13, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED ITS INTERIM UNAUDITED FINANCIAL RESULTS FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2025 ("H1 2025").[1] JOHNNY LEE, CEO AND CHAIRMAN OF U POWER COMMENTED ON THE H1 2025 RESULTS, "OUR FIRST-HALF 2025 FINANCIAL PERFORMANCE REFLECTS STRATEGIC PROGRESS AND OPERATIONAL EXECUTION, MARKED BY A 34.4% YEAR-OVER-YEAR INCREASE IN REVENUES AND IMPROVEMENT IN GROSS PROFIT.

U POWER REPORTS UNAUDITED FINANCIAL RESULTS FOR THE FIRST HALF OF 2025

ACCELERATING TREEP MOBILITY'S TRANSFORMATION FROM FUEL-POWERED VEHICLES TO EVS FOLLOWING SUCCESSFUL PILOT DEPLOYMENT SHANGHAI , SEPT. 22, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT IT HAS SIGNED AN INITIAL SALES AGREEMENT WITH TREEP MOBILITY GROUP S.A.C.

U POWER SIGNS INITIAL SALES AGREEMENT WITH TREEP MOBILITY FOR THE PURCHASE AND DEPLOYMENT OF FIFTY TWO- AND THREE-WHEELED VEHICLES, EIGHT BATTERY-SWAPPING CABINETS AND CORRESPONDING NUMBER OF COMPATIBLE BATTERIES

ADDRESSING THE DEMAND FOR GREEN AND SUSTAINABLE TRANSPORTATION SOLUTIONS IN THE LOGISTICS INDUSTRY SHANGHAI , AUG. 18, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT IT HAS SIGNED A MEMORANDUM OF UNDERSTANDING ("MOU") WITH SAIC HONGYAN AUTOMOTIVE CO., LTD ("SAIC HONGYAN"), A COMPANY FOCUSED ON THE DEVELOPMENT, MANUFACTURE, SALES AND SERVICES OF HEAVY TRUCKS, AND UNEX EV B.V. ("UNEX EV"), A NEW ENERGY AND TECHNOLOGY COMPANY, TO COOPERATE ON THE DEPLOYMENT OF BATTERY-SWAPPING COMPATIBLE ELECTRIC HEAVY TRUCKS INITIALLY IN THAILAND AND EXPLORE SIMILAR EXPANSION OPPORTUNITIES IN ADDITIONAL MARKETS.

U POWER ANNOUNCES STRATEGIC PARTNERSHIP WITH SAIC-HONGYAN AND UNEX EV TO DEPLOY BATTERY-SWAPPING COMPATIBLE HEAVY TRUCKS IN THAILAND AND BEYOND

ACCELERATING THE GREEN TRANSFORMATION OF MEXICO'S TRANSPORTATION INDUSTRY SHANGHAI , AUG. 11, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT ITS STRATEGIC ENERGY AND TECHNOLOGY PARTNER, UNEX EV B.V. ("UNEX EV"), HAS SIGNED A LETTER OF INTENT (THE "LOI") WITH DIDI MOBILITY INFORMATION TECHNOLOGY, PTE.

U POWER'S STRATEGIC PARTNER UNEX EV SIGNS LOI WITH DIDI MOBILITY TO DEPLOY UOTTA(TM) BATTERY-SWAPPING VEHICLES IN MEXICO

ACCELERATING THE DIGITALIZATION AND SMART TRANSFORMATION OF THAILAND'S FARMING SECTOR SHANGHAI , AUG. 6, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT IT HAS SIGNED A MEMORANDUM OF UNDERSTANDING ("MOU") WITH CHIA TAI CO., LTD. ("CHIA TAI"), THAILAND'S LEADING INNOVATIVE AGRICULTURAL COMPANY AND THE FOUNDING SEED BUSINESS OF THE CHAROEN POKPHAND GROUP (CP GROUP), AND ICBC (THAI) LEASING CO., LTD.

U POWER PARTNERS WITH CHIA TAI AND ICBC THAI TO ADVANCE USE OF INTELLIGENT AND BATTERY-SWAPPING COMPATIBLE AGRICULTURAL DRONES IN THAILAND

SHANGHAI , AUG. 4, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTA ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THE SIGNING OF A LETTER OF INTENT (THE "LOI") WITH A HONG KONG-BASED DESIGNER AND MANUFACTURER OF VEHICLE DASHCAMS (THE "CLIENT') TO DEPLOY BATTERY-SWAPPING COMPATIBLE VEHICLES IN THE MARKET. AS PER THE TERMS OF THE LOI, THE CLIENT WILL PURCHASE 300 MGEP SWAPPABLE-BATTERY COMPATIBLE EVS.

U POWER SIGNS A LETTER OF INTENT WITH A HONG KONG-BASED TECHNOLOGY COMPANY FOR THE PURCHASE AND DEPLOYMENT OF 300 BATTERY-SWAPPING COMPATIBLE VEHICLES

EXPLORING SIMILAR  COOPERATION MODELS FOR OTHER REGIONS INCLUDING THAILAND AND PORTUGAL SHANGHAI , JULY 30, 2025 /PRNEWSWIRE/ --U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-POWERED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTA  ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT IT HAS SIGNED A MEMORANDUM OF UNDERSTANDING ("MOU") WITH SHANDONG HI-SPEED NEW ENERGY GROUP LIMITED (HKEX: 1250) ("SHNE"), A COMPANY THAT ENGAGES IN DEVELOPMENT, CONSTRUCTION AND MANAGEMENT OF PHOTOVOLTAIC POWER, WIND POWER, AND CLEAN HEAT SUPPLY SERVICES, AND BOCOM INTERNATIONAL (HKEX:3329) ("BOCOM"), AN INVESTMENT HOLDING COMPANY THAT PROVIDES SECURITIES BROKERAGE, INVESTMENT LOANS, ASSET MANAGEMENT AND ADVISORY SERVICES, TO JOINTLY ESTABLISH A COMMERCIAL EV BATTERY-SWAPPING ECOSYSTEM IN HONG KONG. THE PARTIES PLAN TO GRADUALLY EXPLORE SIMILAR COOPERATION MODELS BEYOND HONG KONG SAR, INCLUDING THAILAND AND PORTUGAL.

U POWER PARTNERS WITH SHANDONG HI-SPEED NEW ENERGY GROUP AND BOCOM INTERNATIONAL TO SCALE BATTERY-SWAPPING IN HONG KONG AND ACCELERATE INTERNATIONAL EXPANSION

SHANGHAI , JULY 24, 2025 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ:UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF COMPREHENSIVE ELECTRIC VEHICLE ("EV") BATTERY-SWAPPING SOLUTIONS ON TRACK OF BECOMING A SMART ENERGY GRID SOLUTIONS PROVIDER, TODAY ANNOUNCED THAT IT HAS ENTERED INTO A SECURITIES PURCHASE AGREEMENT WITH A SINGLE INSTITUTIONAL INVESTOR (THE "INVESTOR") TO SELL 551,628 CLASS A ORDINARY SHARES (OR PRE-FUNDED WARRANTS IN LIEU THEREOF) OF THE COMPANY'S IN A REGISTERED DIRECT OFFERING. IN A CONCURRENT PRIVATE PLACEMENT, THE COMPANY ALSO AGREED TO ISSUE AND SELL TO THE INVESTOR WARRANTS TO PURCHASE UP TO 551,628 CLASS A ORDINARY SHARES.

U Power Limited

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U Power Limited

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