The Zhitong Finance App learned that Premium Auto (UCAR.US) announced an important strategic cooperation on Wednesday and signed a memorandum of understanding with AI Terminal in Pattaya to promote the strategic development of green logistics and electric vehicle infrastructure in Thailand.

According to the agreement, the two sides expect to provide innovative electric solutions for Thailand's commercial logistics and special passenger transport markets through the expertise of artificial intelligence in logistics solutions in Pattaya, combined with battery replacement technology independently developed by Premium Car. This cooperation is expected to greatly enhance Thailand's competitiveness in the field of green logistics.

Premium Auto plans to use its expertise to provide commercial electric vehicles compatible with UOTTA technology, and plans to deploy battery replacement and charging stations in major cities and key logistics nodes in Thailand. Notably, the joint venture plans to jointly develop automatic and semi-automatic charging stations that will be compatible with Premium vehicles and customized to the specific needs of the Thai market. In the early stages of the partnership, Premium will launch its battery replacement technology and corresponding electric vehicles. As cooperation deepens, Premium Auto also plans to localize the production of battery-replaced commercial vehicles in Thailand.

Since its inception, Premium has established a network of about 100 wholesalers and 30 small to medium car dealers. In 2020, the company's strategic focus shifted to the electric vehicle market, focusing on the development of battery replacement technology UOTTA. This technology drastically shortens the charging time of electric vehicles by quickly replacing exhausted batteries with fully charged batteries.

The news of this strategic cooperation contributed to the rise in Premium Auto's stock price. At one point, the increase reached 17.5% in pre-market trading, reflecting the market's high recognition of the prospects for this cooperation.

Through this partnership, Premium Auto has not only taken solid steps in the Thai market, but also contributed innovative strength to the development of global green logistics and electric vehicle infrastructure. As cooperation continues to deepen, Premium Auto is expected to achieve rapid business growth and market expansion while promoting sustainable transportation solutions.

It is worth mentioning that Premium announced a landmark partnership on June 5 — teaming up with Dutch electric vehicle company UNEX to provide a revolutionary battery replacement vehicle and station service for Portugal's largest taxi operator, Associacao Nacional dos Transportes Rodoviaños em Automozz Veis Ligeiros (ANTRAL). This partnership marks the first time that Premium UOTTA's battery replacement business has entered the European market and heralds further expansion in the field of sustainable mobility around the world.

Under the first phase of the agreement, it is anticipated that 2 battery replacement stations and 120 taxis equipped with replaceable batteries will be deployed. As an industry giant in Portugal, ANTRAL drives more than 80 million kilometers a year, emits carbon emissions are as high as 1,440 tons, and fuel costs are close to 10 million euros. By adopting the UOTTA battery replacement service, it is expected that related costs will be drastically reduced by 30-50%. This not only coincides with the EU's goal of 30 million “zero emission” electric vehicles by 2030, but also brings economic and environmental benefits to the taxi industry.

Jia L, Chairman and CEO of Premium Auto, stressed that after market research and customer interaction in Europe, South America, Southeast Asia, etc., Premium is confident in promoting the “UOTTA” battery replacement business in overseas markets. This business model has been proven by the market. It is quite mature in terms of technology, business model, and daily operations, and has the potential to be rapidly replicated in countries around the world.