U Power signs MoU with IoTeX

U Power (UCAR) announced the signing of a Memorandum of Understanding and Business Cooperation Agreement with IoTeX, a pioneering blockchain platform focused on transforming machine-generated data into collective intelligence for AI. As per the terms of the Strategic Partnership, IoTex will purchase Real-World Assets, or RWAs, issued by U Power and backed by corporate bonds. The Strategic Partnership is expected to strengthen U Power’s capital structure while supporting the continued development and expansion of its proprietary EV battery-swapping technology UOTTATM and accelerate the expansion of Web 3.0 AI-powered energy and transportation system solutions. As per the terms of the Strategic Partnership, both parties will actively explore innovative solutions for the tokenization of these RWAs, incorporating advanced AI technologies to ensure secure, scalable, and efficient asset growth. The partnership underscores a shared commitment to sustainable development, technology innovation, and the use of blockchain-based finance to enable scalable real-world applications. The collaboration is supported by HabitTrade, a global multi-asset trading and infrastructure platform, which serves as the structuring and execution agent for this token-equity integration.