U POWER Tech unveils tech and business model at ACT EXPO; forges partnerships with multiple North American enterprises

LAS VEGAS, USA - Media OutReach Newswire - 22 May 2024 - On May 20th, U POWER Tech, a smart electric vehicle (EV) technology company, made its debut at the Advanced Clean Transportation (ACT) Expo in the United States, announcing a collaboration with VIZEON, an electric vehicle distributor, to expand into North America, with the focus on Mexico and Latin American markets.

The ACT Expo is North America's largest event showcasing advanced transportation technologies and clean energy vehicles. Following its appearance at CES 2024 earlier this year, U POWER Tech returned to the Las Vegas Convention Center, showcasing the UP Super Board and UP VAN to nearly ten thousand industry professionals from around the world.

*Yao Zhai, Head of U POWER Tech U.S., and Christian Dubois, CEO of VIZEON*

Paul Li, Founder and CEO of U POWER Tech, expressed gratitude to VIZEON for their trust in U POWER. He stated, "The swift receipt of the initial purchase deposits underscores VIZEON's strong endorsement of U POWER's business model. This model has attracted an increasing number of customers from diverse regional markets to engage in substantive cooperation with us. Moving forward, we are fully committed to ensuring the high-quality delivery of UP VAN."

Christian Dubois, CEO of VIZEON, stated, "Thanks to the business model 'Powered by U POWER', we will leverage the UP VAN to introduce highly competitive VIZEON commercial vehicles to the Mexican market."

With the expansion of the "GLOCAL" strategy, U POWER Tech has delivered UP Super Board skateboard chassis products to U.S. customers. The first vehicle product built on this skateboard chassis, the "UP VAN" urban logistics cargo van, boasts the highest energy efficiency and optimal load efficiency among comparable global products. It has received 140,000 orders worldwide and will begin delivery in the second half of this year.

Leveraging a highly competitive supply chain, particularly from China, and advanced in-house R&D capacity, U POWER Tech helps customers build white-labeled EV products to meet diverse needs from many regional markets worldwide. Yao Zhai, Head of U POWER U.S., stated, "The standardized UP Super Board aligns with the highly customized product demands. Not only did we collaborate with EV startups like Olympian Motors earlier this year, the feedbacks from the unfitting communities here in North America have also been particularly positive. Based in Sunnyvale California, we will work hand in hand with local partners to continuously enhance product capabilities and create electric vehicle products that better suit U.S. customers."

*U POWER Tech's booth featuring UP Super Board and UP VAN at ACT EXPO 2024*

Hashtag: #UPOWERTech #EV #Skateboard #SkateboardChassis #UPVAN #PoweredbyUPOWER #ACTEXPO

The issuer is solely responsible for the content of this announcement.

U POWER Tech

U POWER Tech is an innovative electric vehicle (EV) technology company dedicated to creating vehicles tailored for various scenarios, and it leads the way in skateboard chassis technology. By offering the ultimate standardized UP Super Board and white-label complete vehicle products, U POWER Tech significantly shortens the vehicle development cycle, empowering all scenario owners to achieve freedom in vehicle creation. It is leading the intelligent electric vehicle industry from the profit-less 1.0 era to the profit-maximizing 2.0 era.

Established simultaneously in Shanghai and Silicon Valley in early 2021, U POWER Tech brings together top-tier teams and talents from traditional OEMs, new auto players, internet technology companies, and experts from both Eastern and Western cultures. As an inherently global company, U POWER Tech is deepening its "GLOCAL" development strategy: by integrating the world's most comprehensive and the most competitive electric vehicle supply chains through skateboard chassis, it enables scenario owners worldwide to build vehicles locally at a faster pace and lower cost.

At the 2024 CES in the United States, U POWER Tech delivered the first batch of skateboard chassis products, the U POWER Super Board, to emerging electric vehicle manufacturers in the United States. U POWER Tech has also signed cooperation agreements with electric vehicle and energy companies in Japan, the Southeast Asia, and Europe, aiming to gradually introduce "Powered by U POWER" electric vehicle skateboard chassis, complete vehicle products, and corresponding energy services in multiple regional markets globally, empowering local businesses to undergo comprehensive electrification transformation.

The skateboard chassis developed by U POWER Tech combines green technology and AI technology. The UP Super Board integrates core functions related to electric vehicle driving through physical decoupling of the upper body and lower chassis and split development. It combines U POWER Tech's independently developed chassis domain controller and automotive supercomputing platform to provide software and hardware support for autonomous driving algorithms. Starting from commercial logistics scenarios, the first complete vehicle product, the U POWER UP VAN, has received 140,000 orders from markets including North America, Japan, Southeast Asia, Europe, and China. Mass production testing has been completed, and deliveries will commence in mid-year. Subsequently, U POWER Tech will also focus on providing SUVs and pickups to users for the ultimate scenario experience.

U POWER Tech has received successive investments from top-dollar funds such as ZhenFund and Matrix Partners, as well as automotive industry funds like Bosch's BOYUAN Capital.

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