U Power Limited (the “Company” or “U Power”), a provider of comprehensive electric vehicle (“EV”) battery-swapping solutions on track of becoming a smart energy grid solutions provider, today announced the signing of another Electric Service Provider (“ESP”) agreement to facilitate the deployment of its UOTTA battery-swapping stations and the sale of compatible EVs in Singapore.
This new ESP agreement which represents U Power’s official entry into the Singapore market, follows the signing of the Company’s first ever ESP agreement in Macau in June 2025. Pursuant to the agreement, the local ESP partner will promote the sale, installation, and maintenance of U Power’s UOTTA smart battery-swapping stations, as well as sale and after-sale maintenance of compatible vehicles in Singapore, more specifically, passenger cars and commercial vans. These stations and compatible EVs will be provided and delivered by U Power and its partner, UNEX EV B.V., (a Netherlands-based new energy and technology company which cooperates with OEM partners to design intelligent battery-swapping vehicles).
Over the next three years, the ESP partner expects to be purchasing and then selling to the end users approximately 5,000 compatible battery-swapping vehicles, in addition to retrofitting its own 300 MG EP taxis currently in use into battery-charging and -swapping compatible EVs. Furthermore, the ESP partner will be operating U Power’s UOTTA battery-swapping stations and provide corresponding battery-swapping services to the vehicles sold.
Johnny Lee, CEO and Chairman of U Power commented, “Following U Power’s official entry into the Macau market, we are excited to announce another milestone in our strategy of expanding our global footprint, by entering the Singapore market. We are on track to establish a mature battery-swapping ecosystem in the Southeast Asia market, and believe this replicable ESP model will enable us to capture market share by working with reputational and resourceful local partners.”
SOURCE: U Power
