Partnership established between U Power, Shandong Hi-Speed New Energy Group, and BOCOM International for the growth of battery-swapping technology in Hong Kong and the quickened global expansion of U Power.
U Power, a leading provider of AI-powered solutions for next-generation energy grids and intelligent transportation systems, has strengthened its partnership with Shandong Hi-Speed New Energy Group (SHNE) and BOCOM International. This collaboration aims to revolutionise urban electric mobility in Hong Kong and expand into new markets such as Thailand and Portugal.
In Hong Kong, the partnership plans to establish a commercial EV battery-swapping ecosystem. Shandong Hi-Speed New Energy Group will invest in the construction of smart battery-swapping stations in core taxi operating areas. BOCOM International will provide dedicated financing solutions for these stations.
The cooperation models for battery-swapping in Thailand and Portugal are designed to create a scalable, AI-powered, zero-carbon battery-swapping ecosystem with smart, weather-resilient infrastructure integrated with incentive mechanisms such as battery-tokens. These models emphasise collaboration between technology providers, clean energy companies, and local partners to deploy battery-swapping stations that serve taxis, ride-hailing fleets, buses, and logistics vehicles. The goal is to accelerate green transportation and support sustainable urban mobility.
In the Thailand model, U Power’s joint venture with SUSCO has led to the deployment of Southeast Asia’s first smart battery-swapping station in Phuket. This station supports multi-type EV fleets with AI-driven swapping technology and scalable infrastructure adaptable to tropical climate conditions. The system integrates U Power’s Battery-bank system, allowing drivers to earn battery-tokens as incentives, fostering user engagement and operational efficiency in urban mobility such as taxis and ride-hailing services.
The Hong Kong model will follow a similar cooperation structure, aiming to deploy around 50 smart, zero-carbon battery-swapping stations, leveraging renewable energy sources and clean technology. A network of partners including clean energy providers, vehicle manufacturers, and financial institutions will build the commercial ecosystem.
The Portugal cooperation model is planned to mirror the integrated, sustainable, and AI-powered framework tested in Thailand and Hong Kong, adapting to local conditions and enabling broad EV adoption with rapid battery swaps and reduced grid pressure.
U Power has introduced Battery-Token, an innovative solution using Web 3.0 blockchain and token-based economics. The company will continue to provide technical and operational support for battery-swapping stations in Hong Kong, ensuring compliance with local customer service and EV operating standards.
Johnny Lee, CEO and Chairman of U Power, leads this ambitious project. The collaboration is expanding the battery-swapping ecosystem in Hong Kong, involving taxi operators, car manufacturers, EV battery builders, clean energy service providers, and financing entities. The partnership aims to strengthen U Power’s presence in existing markets and expand in new ones.
This collaboration leverages public-private partnerships, AI technology, sustainable energy solutions, and commercial scalability to transform urban electric mobility in Hong Kong and beyond.
[1] U Power. (n.d.). U Power and SUSCO Joint Venture to Deploy Southeast Asia’s First Smart Battery-Swapping Station in Phuket. Retrieved from https://upower.co/news/u-power-and-susco-joint-venture-to-deploy-southeast-asias-first-smart-battery-swapping-station-in-phuket
[2] U Power. (n.d.). U Power and Partners to Deploy 50 Smart Battery-Swapping Stations in Portugal. Retrieved from https://upower.co/news/u-power-and-partners-to-deploy-50-smart-battery-swapping-stations-in-portugal
[3] U Power. (n.d.). U Power's Battery-Token System Rewards Drivers with Battery-Tokens for Smart Battery Swapping. Retrieved from https://upower.co/news/u-powers-battery-token-system-rewards-drivers-with-battery-tokens-for-smart-battery-swapping
[4] U Power. (n.d.). U Power and Shandong Hi-Speed New Energy Group Collaborate on Smart Battery-Swapping Stations in Hong Kong. Retrieved from https://upower.co/news/u-power-and-shandong-hi-speed-new-energy-group-collaborate-on-smart-battery-swapping-stations-in-hong-kong
[5] U Power. (n.d.). U Power and BOCOM International Partner to Finance Smart Battery-Swapping Stations in Hong Kong. Retrieved from https://upower.co/news/u-power-and-bocom-international-partner-to-finance-smart-battery-swapping-stations-in-hong-kong
- The Thailand model, led by U Power's joint venture with SUSCO, introduces an AI-powered battery-swapping station in Phuket, reinforcing personal-finance opportunities through the use of Battery-Tokens.
- In the Portuguese partnership, U Power aims to establish an AI-powered, zero-carbon battery-swapping ecosystem similar to the one in Thailand, utilizing data-and-cloud-computing and technology for broad electric vehicle adoption.
- The Hong Kong model, backed by Shandong Hi-Speed New Energy Group and financed by BOCOM International, envisages constructing smart battery-swapping stations for commercial electric vehicles and implementing real-estate strategies to expand into new markets, such as Thailand and Portugal.
