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U POWER’s UOTTA Battery Swapping Services is entering the Portuguese market through a partnership with Dutch EV company UNEX and ANTRAL, the largest taxi operator in Portugal. This collaboration aims to introduce battery swapping stations and services to significantly reduce operational costs and carbon emissions.
Key Highlights:
- Partnership Details: U POWER will partner with UNEX to provide battery-swapping vehicles and services to ANTRAL.
- Initial Phase: The first phase includes the installation of 2 swapping stations and deployment of 120 battery-swapping taxis.
- Operational Impact: ANTRAL, operating over 1,000 taxis annually, aims to reduce costs by 30-50% and carbon emissions in line with EU goals.
- Technological Advantages: UOTTA’s technology integrates vehicles, swapping stations, and spare batteries, offering customizable options for customers.
- Financial Benefits: The “Battery Bank” financial model addresses concerns about electric vehicle battery costs and environmental disposal.
U POWER’s entry into the Portuguese market marks a significant milestone for the company, representing its first venture into Europe. On June 5th, the company announced a strategic partnership with UNEX, a Dutch electric vehicle company, to deliver battery-swapping solutions to ANTRAL, the National Association of Light Vehicle Road Transport in Portugal. This collaboration will initially establish two battery-swapping stations and deploy 120 battery-swapping taxis.
ANTRAL operates a fleet of over 1,000 taxis, covering more than 80 million kilometers annually. The adoption of UOTTA’s battery-swapping services is projected to reduce ANTRAL’s operational costs by 30-50%. This move aligns with the European Union’s ambition to achieve 30 million zero-emission electric vehicles by 2030.
Jia L, Chairman and CEO of U POWER, emphasized the success of this cooperation, highlighting that UOTTA’s battery-swapping technology and services are well-suited to the European commercial road transport market. UOTTA’s ecosystem integrates vehicles, swapping stations, and spare batteries into a single platform, allowing customers to choose various combinations. This flexibility facilitates seamless battery-swapping operations. Additionally, the “Battery Bank” financial model provides battery leasing services, reducing vehicle procurement costs and saving on daily operating expenses.
Jia L further explained that ANTRAL’s management was enthusiastic about the battery-swapping model after learning about its advantages. The concerns regarding the cost and feasibility of building charging infrastructure, daily charging needs, and the performance degradation and disposal of electric vehicle batteries were addressed by UOTTA’s innovative technology and business model. This resulted in smooth business negotiations, with both parties eager for the early completion of the first battery-swapping station in Europe dedicated to serving taxis.
Jia L expressed confidence in promoting the UOTTA battery swapping business in overseas markets, including Europe, South America, and Southeast Asia. The business model, validated in the market, is mature in technology, operations, and business model, and is capable of rapid replication across various countries. The open business ecosystem of UOTTA has attracted interest from many international electric vehicle manufacturers, road transport companies, and financial institutions, all of whom are keen to collaborate. U POWER aims to continuously enhance its business capabilities, delivering greater returns to investors.
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