U Power announces joint venture with SUSCO

U Power (UCAR) Limited announced that it has signed a joint venture agreement between its Thai subsidiary, U SWAP, and SUSCO Public Company Limited, a publicly listed energy provider with a robust network of fueling stations throughout Thailand. The joint venture will deploy U Power’s innovative UOTTA battery-swapping technology across SUSCO’s extensive station network, significantly advancing sustainable transportation solutions in the country. The JV positions U Power as a first-mover in Thailand Commercial EV Battery Swapping Market. “This joint venture represents a significant milestone in U Power’s global expansion strategy, particularly in Southeast Asia,” said Li Jia, Chairman and CEO of U Power. “Thailand’s ambitious EV targets make our partnership with SUSCO timely and strategically important, creating immediate opportunities for scaling our battery-swapping technology across the region.”