U Power Limited announced that the company?s subsidiary, Youpin Automobile Service Group Co. Ltd., pursuant to a strategic cooperation agreement and an equipment procurement contract for the sale and installation of two UOTTA battery-swapping stations, with Zhejiang Petroleum Energy Sales Co. Ltd. (?Zhejiang Petroleum?), has started the installation for a second station for electric taxis in Anji county, Zhejiang Province.

Zhejiang Petroleum is a comprehensive energy integrated supply and service provider owned by China?s energy conglomerate, Zhejiang Provincial Energy Group. In July 2022, U Power delivered the first UOTTA battery-swapping station in Anji county, which caters to the local battery-swapping needs of electric taxis and endeavors to reduce the operational costs for local taxi service providers. The second station is expected to be delivered in September and open to the public by October 2023.

The new station will feature a design that allows simultaneous battery swapping on both sides of the vehicle, which is anticipated to enhance the efficiency of the battery-swapping process, minimize waiting time, and optimize battery usage. Additionally, through intelligent terminals, the station integrates solar power generation, station-side energy storage, as well as a municipal power supply system, and is expected to provide electric taxis with superior, efficient and convenient battery-swapping services.