U Power (UCAR) announced that, following its securing an order for 1,000 battery-swapping heavy-duty trucks in Thailand and completing production of the first batch of vehicles, its Hong Kong taxi battery-swapping project is also expected to complete station deployment and commence operations in Q2. This development marks a new stage of full commercial rollout for U Power’s battery-swapping business for commercial vehicles across the Asian market. In 2025, the company launched a taxi battery-swapping business in Phuket, Thailand, and introduced its UNEX heavy-duty truck battery-swapping project to the Thai market. In June 2025, the company completed Hong Kong’s first demonstration battery-swapping station capable of commercial operation. In parallel with the construction of battery-swapping stations, U U Power is targeting market launch in Q2.
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