U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that its UOTTA battery-swapping technology for two-wheeler and three-wheeler electric vehicles has been selected by Treep Mobility Group S.A.C. (“Treep Mobility”), a leading Moto Taxi operator in Peru. U Power has successfully completed the pilot deployment in Peru, which includes 2 operational battery-swapping stations, 1 three-wheeler and 10 two-wheeler electric vehicles. Following this successful pilot, Treep Mobility plans to convert its fleet of traditional fuel-powered vehicles to UOTTA’s battery-swapping model, with total orders expected to exceed US$1 million.

Treep Mobility strongly endorses UOTTA’s shared battery-swapping model, recognizing its ability to maintain operational hours and revenue when transitioning from traditional fuel vehicles to electric vehicles, while reducing operating costs by 30-40% compared to fuel vehicles. This green and economical transportation solution aligns with environmental development trends.

The UOTTA solution integrates AI technology through its cloud platform and station control system, effectively predicting customer demand and optimizing charging and swapping efficiency to enhance overall operational efficiency. The AI technology also provides targeted solutions based on operational data analysis of vehicles and swapping stations.”

The Moto Taxi market represents an enormous opportunity in Peru and South America,” said Jia Li, Chairman and CEO of U Power. “Peru alone has over 100,000 registered Moto Taxis, and South America adds more than 300,000 new electric three-wheeler and two-wheeler motorcycles annually. Treep Mobility’s partnership demonstrates that the battery-swapping model is a more economical, convenient, and profitable choice for companies using three-wheeler and two-wheeler motorcycles in passenger transport and delivery services. We believe more companies like Treep Mobility in South America will partner with us, driving sustainable business growth.”