Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
LISBON - U Power Limited (Nasdaq: UCAR), currently trading at $2.66 and considered undervalued according to InvestingPro analysis, in collaboration with Portugal’s national road transport association ANTRAL, has announced a new initiative aimed at revolutionizing the country’s taxi industry with advanced battery-swapping technology. The company’s stock has faced significant headwinds, declining over 61% in the past six months. The announcement was made during ANTRAL’s 50th Anniversary & XVI Taxi Day, which took place from April 10 to 13, 2025, at the Lisbon Congress Center.
The partnership’s project, which falls under the ELMO joint venture, is set to deploy between 150 and 200 electric vehicles (EVs) specifically designed for taxi operations. These vehicles will be supported by UOTTA rapid-swap stations, enabling drivers to exchange depleted batteries for fully charged ones within minutes, addressing the issue of lengthy charging times and vehicle downtime. With a current ratio of 2.19, U Power maintains strong short-term liquidity to support its operational expansion, though InvestingPro data indicates the company is quickly burning through cash.
At the event, ELMO showcased its mission to drive decarbonization and digital transformation in urban transport, emphasizing the importance of sustainable and efficient mobility solutions. To further this goal, ELMO is in advanced talks with Galp, Portugal’s leading energy provider, to integrate UOTTA stations into existing service stations, thereby enhancing accessibility for taxi operators.
Florêncio de Almeida, President of ANTRAL, highlighted the project’s potential to change the EV market by prioritizing speed and practicality. Johnny Lee, CEO of U Power Limited, noted the global relevance of the initiative, suggesting that the UOTTA technology could serve as a model for cities around the world, combining sustainability with operational efficiency in the taxi sector.
ELMO, a joint venture between ANTRAL and Energy U Limited, a subsidiary of U Power Limited, is focused on propelling Portugal towards sustainable urban mobility. ANTRAL has been a key player in Portugal’s mobility policies and driver advocacy since its establishment in 1974, representing over 50,000 professional drivers and taxi operators.
U Power Limited, known for its proprietary battery-swapping technology UOTTA, operates a manufacturing facility in Zibo City, Shandong Province, China, and has been advancing its presence in the EV market since its inception in 2013.
This initiative is based on a press release statement and aims to provide a comprehensive battery power solution for EVs in Portugal, potentially setting a precedent for future urban mobility solutions. Despite challenging market conditions reflected in its market capitalization of $10.71 million, U Power maintains a solid balance sheet with more cash than debt. InvestingPro subscribers can access 11 additional exclusive ProTips and comprehensive financial metrics to better understand the company’s potential in the evolving EV market.
In other recent news, U Power Limited has announced several strategic initiatives aimed at expanding its electric vehicle (EV) battery-swapping technology across different regions. The company has formed a joint venture with SUSCO Public Company Limited in Thailand to deploy 1,450 battery-swapping stations by 2030, aligning with Thailand’s policy to increase EV sales. Additionally, U Power has partnered with Ezzy Transporter to create Greendrive Tech Co. Ltd., which will focus on customizing vehicles for battery swapping and aims to deliver 2,000 custom-built vehicles within the year. In Portugal, U Power is collaborating with the national taxi association to introduce its UOTTA 8-slot compact battery-swapping station, with deliveries expected in the first half of 2025. The company is also expanding into Peru with Treep Mobility Group S.A.C., where its technology will support the transition of moto taxis to electric models, potentially leading to orders surpassing US$1 million. These efforts reflect U Power’s commitment to enhancing EV infrastructure and operational efficiency in various markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.