UOTTA Battery Swapping for Commercial EVs

U Power Limited, listed on Nasdaq under the ticker UCAR, was founded in 2013 and developed the UOTTA intelligent battery swapping technology for commercial road transport. It addresses long charging times, grid constraints and battery degradation that limit electric taxis, buses, vans and trucks, and has branches or representative offices in Thailand, Portugal, Peru, Mexico and Hong Kong.

UOTTA combines modular swap stations with a small footprint that exchange a vehicle battery in about 3 to 6 minutes, battery banks, smart chargers and commercial energy storage. Stations test every battery during each swap, can act as energy storage and grid regulation nodes, and are expandable as fleets grow. A cloud platform and app connect vehicles, stations and users in real time, and customers can rent batteries by distance or by day. U Power also customises vehicles and works with automakers such as Dongfeng, FAW Bestune, Chery, SGMW and Foton and battery makers such as Gotion, REPT and EVE Energy.

• Modular swap station: small footprint, quick build and expandable as the business grows.
• Fast swapping: a vehicle battery exchange in about 3 to 6 minutes.
• Multi-vehicle coverage: solutions for heavy trucks, buses, vans, pickups, taxis and two- or three-wheelers.
• Grid functions: stations double as energy storage and grid regulation nodes.
• Battery rental plans: pay by kilometres or days, with a full battery check at every swap.
• Cloud platform and app: real-time connection between vehicles, stations and users.

Taxi companies in Vietnamese cities can run electric taxis on shared swap stations to keep vehicles in service around the clock. Port, mining and cement logistics operators can use swappable heavy trucks on fixed routes. Fuel retailers and industrial parks can host swap stations that also provide energy storage.

Fleet vehicles are back on the road after a 3 to 6 minute swap instead of hours of charging. According to U Power, customers save 35% of daily expenses compared with fuel vehicles. Modular stations need little land and limited grid upgrades, and every swap includes a battery check so faults are found early. Pay-per-distance or per-day battery rental removes the battery from the vehicle purchase price.

Battery swapping is spreading from Chinese taxis and heavy trucks into other markets where commercial fleets cannot afford long charging stops. Thailand has become an early Southeast Asian testbed, with swap stations for taxis and trucks, and similar demand exists in Vietnam among taxi, logistics and mining truck operators.

Founded in 2013, U Power is listed on Nasdaq (UCAR) and receives investment from family enterprises of the Charoen Pokphand Group. Announced a USD 25.7 million private placement in April 2026 and formed the Hydro Data joint venture for hydrogen power for data centres in Thailand. Active projects include swappable heavy trucks in Thailand, electric vans in Southern Europe and taxis in Hong Kong.