U Power Signs Agreement for 300 Battery-Swapping EVs in Hong Kong

August 04, 2025
U Power Limited has signed a Letter of Intent with a Hong Kong-based company to deploy 300 battery-swapping compatible electric vehicles, as announced in a press release.

U Power Limited has signed a Letter of Intent with a Hong Kong-based technology company for the purchase and deployment of 300 battery-swapping compatible electric vehicles, announced in a press release. The agreement involves the client purchasing 300 MGEP swappable-battery compatible EVs, with an initial deposit already submitted.

These vehicles will be integrated into commercial operations once the definitive sales agreement is finalized. Drivers will utilize U Power's smart battery-swapping station in Hong Kong, earning tokens for each battery swap that can be redeemed for electricity tariff credits.

Johnny Lee, CEO and Chairman of U Power, highlighted the significance of this milestone in expanding their battery-swapping platform and enhancing their market presence. The initiative aims to promote sustainable usage and improve driver productivity in Hong Kong's growing electric vehicle market.

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