BANGKOK, March 11, 2026 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) ("U Power" or the "Company"), a provider of AI-integrated solutions for next-generation energy grids and intelligent transportation systems, today announced that it has successfully completed comprehensive operational testing and full-stack integration of the battery-swapping system of heavy-duty truck prototype vehicles designed to be deployed in Thailand.
This milestone marks a key step forward in U Power's collaboration with Whale Logistics (Thailand) Co., Ltd. ("Whale Logistics"), a strategic partner, to deploy 1,000 battery-swapping heavy-duty trucks in Thailand. The strategic partnership, formalized in December 2025, paves the way for the production and delivery of the first batch of heavy truck tractors by May 2026.
The battery-swapping heavy-duty truck project was jointly developed by U Power, SAIC Hongyan Automotive Co., Ltd., a company focused on the development, manufacture, sales and services of heavy trucks, and UNEX EV, a new energy and technology company. The prototype vehicles underwent three months of full-condition road testing, during which the key systems were thoroughly evaluated. Following full-stack integration, all technical parameters met design specifications and aligned with Whale Logistics' requirements for electrified highway logistics transportation, positioning the prototypes for immediate transition to mass production.
As Thailand's inaugural and flagship battery-swapping heavy-duty truck project, the cooperation between U Power and Whale Logistics aims to accelerate the adoption of green and sustainable battery-swapping solutions in the country's road logistics sector. Supported by U Power's UOTTATM battery-swapping solution that enables battery swaps within minutes, operational efficiency of electric transport vehicles can match that of conventional fuel-powered trucks. At the same time, vehicle operators can avoid substantial investments in grid expansion and charging infrastructure while eliminating concerns about battery performance degradation. This model offers a greener and more cost-efficient, and replicable transportation solution for the highway logistics industry.
Johnny Lee, Founder and Chief Executive Officer of U Power Limited, stated: "Completing full-condition road testing of our pilot vehicles confirms the reliability and efficiency of the UOTTA battery-swapping model. Via the partnership with Whale Logistics, we are set to deploy 1,000 vehicles in Thailand to meet high-frequency logistics demand and boost operational efficiency. Thailand is a strategic market in U Power's global growth plan. By pioneering battery-swapping solutions for taxis and heavy-duty trucks, we are strengthening our leadership in Southeast Asia and driving low-carbon commercial transportation, while laying the foundation for expansion across the region.
About U Power Limited
U Power is a provider of comprehensive AI-integrated energy solutions that connect electric vehicles (EVs) with advanced energy infrastructure, optimizing both mobility and grid performance. Originally a distributor of various battery-swapping station models built on its proprietary modular battery-swapping technology UOTTA™, U Power has evolved into a provider of AI-integrated solutions for energy grids and transportation systems.
Through investments in next-generation technologies, U Power is building intelligent ecosystems that integrate resilient AI driven solutions able to transform EVs into dynamic energy assets. By incorporating AI algorithms, U Power's comprehensive solutions for smart energy grids are designed to support autonomous EV driving, optimize energy replenishment efficiency, and seamlessly connect EV assets with advanced AI-powered transportation systems, enabling peak and off-peak energy load balancing.
For more information, please visit the Company's website: https://www.upower-limited.com/.
Safe Harbor Statements
This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
Contact
U Power Limited
Investor Relations Department
ir@upincar.com
The Equity Group
Lena Cati, Senior Vice President
212-836-9611 / lcati@theequitygroup.com
Alice Zhang, Associate
212-836-9610 / azhang@theequitygroup.com
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U POWER's Electric Heavy Trucks Pass Comprehensive Operational Testing and Full-Stack Integration of Battery-Swapping System; 1,000 Units Set for Thailand Rollout
