U Power partners with SAIC-Hongyan and UNEX for heavy trucks in Thailand

U Power (UCAR) has signed a Memorandum of Understanding with SAIC Hongyan Automotive, a company focused on the development, manufacture, sales and services of heavy trucks, and 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. The three parties will collaborate to deploy 3,000 electric heavy-duty tractors for long-haul transportation and 1,200 electric heavy-duty port-specific short-distance trucks in Thailand. All parties have agreed to explore the expansion of this partnership into additional markets, including the broader Southeast Asia, Latin America, Europe, Hong Kong SAR and Macau SAR. U Power will lead the development and manufacture of compatible battery-swapping stations as well as provide related operational services. UNEX EV will be responsible for the adaption of SAIC Hongyan heavy trucks into battery swapping-enabled vehicles, developing of compatible battery modules, as well as promoting the sales of the heavy trucks in the Thailand market. SAIC Hongyan will supply heavy truck prototypes and provide the necessary technical support to ensure full compatibility between these adapted truck models and U Power’s smart battery-swapping stations.