U Power Limited, a leading vehicle sourcing services provider with a vision to evolve into a comprehensive EV battery power solution provider in China, has announced the imminent formal commercial rollout of its innovative battery-swapping and sharing model for two-wheeled and light four-wheeled electric vehicles (EVs) in Wuhu, Anhui Province, China. The eagerly anticipated rollout, slated for April 2024, follows a resoundingly successful round of market validations conducted in February. As part of this strategic expansion initiative, U Power is set to establish 60 power-swapping service points across the region, catering to an estimated customer base of over 800.
The battery-swapping and sharing technology, meticulously developed by U Power, offers a seamless solution for EV owners, employing identical battery cells and packaging methods for both two-wheeled and light four-wheeled EVs. This innovative approach involves the storage of battery packs for both vehicle types in a single battery-swapping station (BSS). When customers require battery replacements, they can effortlessly exchange one to two battery modules for two-wheeled EVs or four to eight modules for light four-wheeled EVs. The battery-swapping process is designed to be intuitive and user-friendly, with customers verifying their identity at the BSS via their mobile phones and following a series of simple prompts to complete the exchange.
Mr. Jia Li, Chief Executive Officer and Chairman of the Board at U Power, expressed his enthusiasm for the upcoming rollout, stating, “Our battery-swapping and sharing model for two-wheeled and light four-wheeled EVs has received an overwhelmingly positive response from the market following its successful validation in February. Through strategic collaborations with global partners leading up to this groundbreaking launch, we have gained invaluable insights into critical metrics such as battery replacement frequency and daily vehicle mileage, leveraging data from our operational platform. Particularly noteworthy is our observation that vehicles utilizing battery-swapping exhibit significantly higher average daily mileage compared to those reliant on traditional charging methods. This underscores the genuine efficiency enhancements offered by our battery-swapping model, enabling customers to minimize charging time and maximize travel time.”
Buoyed by the completion of market validation, U Power is emboldened in its commitment to revolutionizing electric mobility. In addition to consolidating its presence in the Chinese market, the company has set its sights on expanding its footprint into Southeast Asia, South America, and beyond. Mr. Jia Li emphasized U Power’s overarching goal of delivering top-tier services to its customers while ensuring superior returns for its shareholders, underscoring the company’s unwavering dedication to driving innovation and sustainable growth in the rapidly evolving EV landscape.
