U Power Expands Its Reach by Entering the Singapore EV Market with New Agreements

U Power Enters the Singapore EV Market



On July 7, 2025, U Power Limited (Nasdaq: UCAR) made a significant stride in its global expansion strategy by signing an Electric Service Provider (ESP) agreement in Singapore. This initiative marks the company's official entry into the Southeast Asian market, following its prior agreement in Macau mere weeks earlier.

U Power, recognized as a comprehensive supplier of electric vehicle (EV) battery-swapping solutions, aims to establish a robust infrastructure for EVs in Singapore through this collaboration. The agreement will see U Power work alongside local partners to implement its UOTTA smart battery-swapping stations throughout the region. These eco-friendly stations will play a pivotal role in promoting the sale of compatible passenger and commercial vehicles, ensuring a seamless transition for local EV users.

The local ESP partner, alongside U Power and UNEX EV B.V., a Dutch company specialized in new energy technology, will handle various operational aspects, including the promotion, installation, and maintenance of the UOTTA battery-swapping stations. They will cater to both passenger vehicles and commercial vans — a notable move aimed at enhancing the convenience and appeal of EVs in urban areas.

Growing Demand for EVs in Singapore

Singapore has been making considerable efforts to transition to eco-friendly transport solutions, making this the perfect market for U Power's services. The ESP partner plans to introduce approximately 5,000 battery-swapping compatible vehicles over the next three years, greatly increasing the number of EVs on Singaporean roads. Additionally, they aim to retrofit 300 MG EP taxis currently in use to support battery-charging and battery-swapping functionalities.

CEO and Chairman Johnny Lee expressed his enthusiasm for entering Singapore, emphasizing the company's commitment to building a comprehensive battery-swapping ecosystem that can effectively capture market share.

Topics Auto & Transportation)

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