- Vehicle sourcing services provider U Power Ltd (NASDAQ:UCAR) entered into a framework strategic cooperation agreement with Quantum Solutions Co Ltd for business development.
- Quantum is an independent Japanese electric vehicle (EV) manufacturer listed on the Tokyo Stock Exchange.
- The agreement calls for developing business initiatives relating to marketing, research and development of new energy vehicles, financial technologies, battery banks, EV charging and battery-swapping operations and services in Japan.
- Quantum has agreed to advise on selecting and developing suitable EV models by leveraging its deep understanding of Japan's EV market and consumer needs.
- U Power has agreed to provide battery-swapping technology, products, and compatible cloud service platforms according to Quantum Solutions' requirements.
- The parties may establish a joint venture in the future to further pursue their strategic cooperation.
- Jia Li, CEO, Director, and Chairman of the Board, said, "We expect to utilize our UOTTA battery-swapping technology to innovate and ultimately expand into Japan's EV market. We anticipate the partnership will generate substantial value for our shareholders."
- Price Action: UCAR shares are trading higher by 181% at $8.75 on the last check Thursday.
- Photo Via Company
Tap The Potential - U Power Soars On Business Deal With Japanese EV Maker Quantum Solutions
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