U Power Signs Agreement With Electric Service Provider In Macau

(RTTNews) - U Power Limited (UCAR), Monday announced the signing of its first agreement with an Electric Service Provider or ESP in Macau to facilitate the deployment and operation of UOTTA battery-swapping stations and cabinets, as well as the sale of compatible electric vehicles.

Additionally, the company will facilitate the sale and provide after-sale maintenance of compatible battery-swapping vehicles including four-wheeled passenger and commercial vehicles, and two-wheeled electric motorcycles.

This agreement is expected to establish the company's official entry into Macau, creating an opportunity to seize the market share.

Friday, UCAR closed at $3.86, down 4.90 percent on the Nasdaq.