U Power Limited to Build 55 Smart Battery Swap Stations in Hong Kong

Li Jia, Founder and CEO of U Power, said, "Today we are not only witnessing the completion of Hong Kong's first demonstration of a smart swap station, but it is also an important milestone in our business expansion. By partnering with C.P. Group to set up 55 smart switching stations in Hong Kong, we will create the world's first switching network for the highest-density city, making Hong Kong a model for electrification of high-density cities around the world. We have commercially launched our operations in China, Portugal, Thailand and Peru, and the Hong Kong model will be replicated in other overseas countries."

Chatchaval Jiaravanon, Strategic Investor of U Power, said in his speech, "Hong Kong, as an international financial center with a well-established rule of law environment and an innovative atmosphere, is an ideal place to validate the business model of smart swapping. Our vision is, firstly, to make electric vehicles 'replenish energy' faster than buying coffee; secondly, to make batteries a tradable digital asset; and thirdly, to build a carbon reduction ecosystem that involves the participation of all people."

Pitak Pruittisarikorn, Senior Chief Executive Officer of U Power, said, "We believe that U Power's 'Vehicle-Station-Cloud-Token' ecosystem will reshape the urban energy infrastructure. The Hong Kong project is an important milestone in our globalization, and this strategic cooperation with our partners in Hong Kong SAR, Macau SAR and Singapore marks U Power's full-scale deployment in the Southeast Asian market. We look forward to providing more cities with innovative green mobility solutions."