#China #Hong Kong #EV technology #U Power #Battery-Swapping

U Power Collaborates with Shandong Hi-Speed and BOCOM to Boost Battery-Swapping Infrastructure in Hong Kong

In a significant move aimed at transforming the electric vehicle landscape, U Power Limited (Nasdaq: UCAR) has announced a collaboration with Shandong Hi-Speed New Energy Group and BOCOM International. This partnership is poised to develop an extensive battery-swapping ecosystem in Hong Kong, marking a substantial step towards advancing sustainable urban transportation.

Strategic Partnership Details

On July 30, 2025, U Power signed a Memorandum of Understanding with these two notable partners. Shandong Hi-Speed New Energy Group specializes in energy management, particularly in renewable sources such as photovoltaic and wind power. Meanwhile, BOCOM International excels in provision of financial services and investment solutions. Together, they plan on establishing and operating 50 smart, zero-carbon battery-swapping stations throughout Hong Kong.

According to the agreement, Shandong Hi-Speed will spearhead the construction of these battery-swapping stations in vital taxi-operating zones, while BOCOM will provide the necessary financial backing. U Power will leverage its technical prowess to ensure all stations meet the rigorous customer service standards and operational requirements laid out for EVs in Hong Kong.

Aiming for a Greener Future

The overarching goal of this collaboration is to facilitate the transition of commercial vehicle fleets in Hong Kong to electric vehicles (EVs), ultimately championing sustainable transportation solutions. As part of this innovative approach, U Power has also introduced the concept of Battery-Token, which utilizes blockchain technology to create a token-based economic system around battery-use and swapping. This integration of Web 3.0 suggests a forward-thinking vision, enhancing user engagement and operational efficiency.

Johnny Lee, CEO and Chairman of U Power, expressed enthusiasm about the partnership, stating that it represents a key step in broadening their footprint in Hong Kong while exploring collaborative opportunities in international markets such as Thailand and Portugal. By consolidating a network of partners ranging from taxi operators to EV manufacturers, U Power is positioning itself to rapidly implement its ambitions across various sectors.

About the Collaborating Entities

Shandong Hi-Speed New Energy Group is recognized for its contributions to the renewable energy sector, taking the lead in projects that span across numerous provinces and cities in China. This partnership with U Power signifies a strategic effort to extend its influence into international markets, establishing a foothold in Hong Kong and beyond.

BOCOM International, as an arm of the Bank of Communications, stands out in Hong Kong's financial landscape, providing a wide array of services including securities brokerage and asset management. Their involvement in this project assures that the financial requirements necessary for the infrastructure's success are adequately met.

U Power itself has transitioned from a mere distributor of battery-swapping stations to a fully integrated provider of AI-driven energy solutions, catering to both EVs and grid performance enhancements. Their commitment to innovating the EV ecosystem showcases a vision of interconnected energy resources capable of facilitating seamless energy transitions.

As these three companies embark on this ambitious project, the eyes of the automotive and energy industries will be watching closely. The implications of improved battery-swapping technology could resonate far beyond Hong Kong, possibly shaping the future of electric mobility on an international scale. With a strong foundation laid through their partnership, U Power and its allies are set to spearhead a new era of green transportation solutions.

In conclusion, the synergy between technology, finance, and environmental responsibility epitomized in this partnership paints an encouraging picture of the future of urban transportation. Together, U Power, Shandong Hi-Speed, and BOCOM International are embarking on a journey that could redefine the infrastructure needed for sustainable electric mobility.