U Power Limited (NASDAQ: UCAR), a provider of AI-powered solutions for next-generation energy grids and intelligent transportation systems, building on its proprietary UOTTATM electric vehicle (EV) battery-swapping technology, today announced that it has signed an initial sales agreement with Treep Mobility Group S.A.C., a leading Moto Taxi operator in Peru.
Under the agreements, Treep Mobility will purchase and deploy a total of 50 two- and three-wheeled vehicles, eight battery-swapping cabinets and a corresponding number of compatible batteries, all built on U Power's proprietary UOTTA™ electric vehicle (EV) battery-swapping technology.
The sales agreements follow the successful pilot deployment of U Power's battery-swapping vehicles and cabinets in Peru in January 2025, which showcased the effectiveness of U Power's AI-empowered quick and intelligent battery-swapping solutions. These systems not only monitor real-time battery performance but also connect vehicles to a centralized cabinet network, enabling efficient energy management.
Treep Mobility recognized U Power's battery-swapping vehicle operation model in maximizing vehicle uptime and boosting revenue potential.
By transforming its fuel-powered taxi fleet to electric vehicles, Treep Mobility expects to reduce energy replenishment costs by approximately 30-40% compared to traditional fuel vehicles, while contributing to Peru's environmental sustainability goal, a key consideration in a market with over 100,000 registered moto taxis, part of a $324 million total market of motorcycles in the country growing at a CAGR of ~3%.
UCAR shares dipped 11 cents, or 5.3%, to $1.95.
