U Power Limited (the “Company” or “U Power”), a provider of AI-powered solutions for next-generation energy grids and intelligent transportation systems, building on its proprietary UOTTATM electric vehicle (EV) battery-swapping technology, today announced the completion of its Real-World Assets (RWAs) issuance through a strategic partnership with IoTeX, a pioneering blockchain platform focused on transforming machine-generated data into collective intelligence for AI.
As per the terms of the agreement, U Power and IoTeX, will collaborate to create a next-generation electric vehicle (EV) battery swapping system that uses blockchain (Web3), AI, and tokenized RWAs. Of note, in July 2025, both companies signed a Memorandum of Understanding (“MOU”) and Business Cooperation Agreement to actively explore the tokenization of RWAs. These issued RWAs are backed by U Power’s battery swapping business and related assets in the China and Southeast Asia, marking a significant milestone in advancing U Power’s Web3.0 strategy to expand its battery-token and battery-bank operations. These corporate asset-backed RWAs have also been approved by IoTeX to be traded on HabitTrade, a global multi-asset trading and infrastructure platform.
At the same time, in collaboration with IoTeX, U Power has completed the development of its foundational Web3.0 infrastructure. Building on this progress, U Power plans to introduce new investment opportunities and value-driven financial instruments to the capital markets as it continues to expand the market share of its proprietary EV battery-swapping technology UOTTATM solutions in existing and potential markets.
Johnny Lee, CEO and Chairman of U Power commented, “Our partnership with IoTeX enables the tokenization of EV batteries, unlocking new revenue streams through Battery Tokens and crowdfunded infrastructure financing. By accelerating the deployment of battery swapping stations and enhancing data-driven operations via blockchain and AI, we reduce costs, improve asset utilization, and create scalable, recurring income models, all of which drive long-term revenue growth.
In the era of electric transportation, we believe our proprietary battery swapping business and the battery bank business we share with our partners, represent a core asset base with significant growth potential and long-term value creation opportunities. By digitalizing and tokenizing these core assets through the issuance of RWAs, we not only enhance market liquidity, but also strengthen the foundation for sustainable development. The integration of financial services across our industry value chain allows us to attract a broader investor base and accelerate the expansion of our business.
As one of the first in our sector to bring corporate assets on-chain, we view the successful implementation of our RWAs as only the first step of U Power’s Web3.0 strategy, to leverage the conversion of the electrification and digitalization of the EV and battery industry. We seek to work closely with trading platforms, technology partners and various capital market participants to jointly advance a robust Web3.0 ecosystem for the EV and related sector.”
SOURCE: U Power
