U Power (NASDAQ:UCAR) Signs MoU to Explore EV Product Solutions in HK and SE Asia

February 6, 2024

DENVER, Colo., Feb. 6, 2024 (247marketnews.com)- U Power Limited (NASDAQ:UCAR) reported, this morning, signing a Memorandum of Understanding with Cornerstone Technologies Holdings Limited, a Hong Kong based EV charging solution provider and charge point operator with an increasing presence across South East Asia, to jointly explore and develop a strategic business relationship.

U Power is trading at $0.09, up $0.02 (+24.29%), on 23M shares traded.   

Its 52-week range is $0.0702 to $75.00. It set its new 52-week low yesterday and best to think scalp.

Jia Li, CEOfficer and Chairman of U Power, commented, “We are pleased to sign this MoU with Cornerstone. We are confident that the synergies between our UOTTA technology and Cornerstone’s robust operational capacity will enable us to strategically focus on Hong Kong and the Southeast Asian region. Our shared objective is to provide customers with enhanced and streamlined solutions for electric vehicle charging and battery swapping applications. Through this collaboration, we believe our battery swapping stations will gain increased visibility in our target markets. We look forward to building a successful relationship that delivers sustainable value for our shareholders.”

U Power website: http://ir.upincar.com/

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