09:18 AM EDT, 07/03/2024 (MT Newswires) -- U Power ( UCAR ) said Wednesday it signed a preliminary agreement with Pattaya AI Terminal to jointly develop green logistics and electric vehicle infrastructure in Thailand.

Under the memorandum of understanding, U Power ( UCAR ) said the joint venture will provide electrified solutions for Thailand's commercial logistics and dedicated passenger transportation markets.

Both parties also plan to jointly develop automatic and semi-automatic charging stations compatible with U Power's ( UCAR ) vehicles and for the Thai market, U Power ( UCAR ) said.

The company said it will introduce its battery swapping technology in the initial phase of the partnership and ultimately plans to produce battery-swapping commercial vehicles in Thailand.

U Power ( UCAR ) shares were up nearly 10% in recent premarket activity.

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