U Power announces signing of MOU with NV Gotion

U Power (UCAR) announced the signing of a Memorandum of Understanding, MOU, with NV Gotion to deploy swapping-enabled EV batteries, and develop battery-bank solutions for compatible EVs in Thailand and the broader Southeast Asia region. Specifically, pursuant to the MOU, both parties will establish a strategic partnership to jointly develop battery modules and packs for a variety of EVs including two- and three-wheelers, pickup trucks, vans, light-duty trucks, as well as heavy-duty trucks and establish a battery-swapping infrastructure in Thailand. In addition, both parties will jointly develop comprehensive battery-bank operations to support this infrastructure, including battery leasing and vehicle-to-grid solutions.