U Power Limited, a leader in AI-powered solutions for energy grids and intelligent transportation, has signed a Letter of Intent with a Hong Kong-based technology company to deploy 300 battery-swapping compatible vehicles. The agreement involves the purchase of MGEP swappable-battery EVs, with the client having submitted an initial deposit. Once finalized, these vehicles will operate commercially, utilizing U Power's smart battery-swapping station in Hong Kong. This initiative aims to incentivize sustainable usage by awarding drivers tokens for each battery swap, which can be exchanged for electricity tariff credits. U Power's CEO, Johnny Lee, emphasized the company's commitment to innovation and expansion in strategic markets, enhancing its global partnerships and driving smarter mobility solutions.
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