U Power Announces Official Entry into Web 3.0, Ushering in the Next Era of Battery Swapping Solutions

Transforming EVs Into Dynamic Energy Assets Using Web 3.0 Blockchain and Token-Based Economics

SHANGHAI, June 25, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of comprehensive electric vehicle ("EV") battery-swapping solutions with a vision of becoming a smart energy grid solutions provider, today announced the launch of its innovative Battery-Bank initiative and the development of a Battery-Token solution, using Web 3.0 blockchain and token-based economics.

The launch of Battery-Bank and Battery-Token strategy was announced by U Power's strategic investor, Mr. Chatchaval Jiaravanon, during the "Web 3.0 Battery Swap Ecosystem Strategy Launch" event held in Hong Kong on June 20, 2025. Of note, Mr. Jiaravanon is a core member of the CP Group family, one of Asia's wealthiest families.

Mr. Jiaravanon, commented, "U Power's strategy of building intelligent ecosystems that integrate resilient AI, blockchain driven solutions able to transform EVs into dynamic energy assets, has propelled the Company at the forefront of a global technological revolution for a more sustainable future. Via partnerships and investments in next-generation technologies, U Power is building a green, sustainable carbon-zero energy storage ecosystem in several markets including Hong Kong SAR, Singapore, Macau SAR, Peru, Mexico, Portugal."

About U Power Limited
U Power is a comprehensive provider of electric vehicle (EV) battery swapping solutions using its proprietary modular battery-swapping technology, UOTTA™. U Power manufactures and sells different models of UOTTA battery-swapping stations for EVs, and sells and rents battery swap cabinets to two-wheeled vehicle drivers. U Power also provides battery-swapping services for vehicle drivers and station control system upgrading services for battery-swapping station owners.

Through investments in next-generation technologies, U Power's vision is to become a comprehensive solutions provider for smart energy grids. Expanding on its UOTTA technology platform, the Company is investing in building intelligent ecosystems that integrate resilient AI driven solutions able to transform electric vehicles (EVs) into dynamic energy assets.

For more information, please visit the Company's website: https://www.upower-limited.com/.

Safe Harbor Statements
This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

Contact
U Power Limited
Investor Relations Department
[email protected]

The Equity Group
Lena Cati, Senior Vice President
212-836-9611 / [email protected] 

Alice Zhang, Associate
212-836-9610 / [email protected]  

SOURCE U Power Limited