U Power and Velo Labs Collaborate to Establish Asset Fund Trading Platform for Battery Banks

August 5, 2024

https://www.prnewswire.com/news-releases/u-power-and-velo-labs-collaborate-to-establish-asset-fund-trading-platform-for-battery-banks-302214229.html

SHANGHAI, Aug. 5, 2024 /PRNewswire/ — U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced that it has signed a Memorandum of Understanding with Velo Labs Technology Ltd. (“Velo Labs“), a global fintech company, to establish a battery infrastructure investment ecosystem in Thailand. This collaboration aims to accelerate the development of battery bank operations within the UOTTA battery-swapping ecosystem.

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