U Power (NASDAQ:UCAR) said Thursday it entered into a framework strategic cooperation agreement with Quantum Solutions on May 31.
Under agreement, Quantum Solutions has agreed to advise U Power on the selection and development of suitable EV models by leveraging its deep understanding of Japan’s EV market and consumer needs.
The company has also agreed to provide Quantum battery-swapping technology, products, and compatible cloud service platforms as per its requirements.
The companies said they intend to recruit other strategic partners in the field of new energy storage, such as battery developers, and may establish a joint venture in the future to further pursue their strategic cooperation.
Shares +159.5% at $8.07.
China's U Power and Japan's Quantum Solutions sign cooperation agreement
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| Symbol | Last Price | % Chg |
|---|---|---|
| UCAR | - | - |
| U Power Limited | ||