Curated News
By: NewsRamp Editorial Staff
October 10, 2024
U Power and Velo Labs Team Up to Create Battery Bank Trading and Funding Platform
TLDR
- U Power's collaboration with Velo Labs opens up investment opportunities in Thailand's battery bank industry, giving an advantage to early investors.
- The collaboration aims to establish a battery infrastructure investment ecosystem in Thailand by integrating battery assets from various scenarios.
- The collaboration between U Power and Velo Labs contributes to the development of large-scale, green electric vehicle applications and promotes a trustless financial infrastructure.
- U Power's advanced technology allows for EV battery swapping in under five minutes, making it a convenient and innovative solution for consumers and fleet operators.
Impact - Why it Matters
The collaboration between U Power and Velo Labs is significant as it aims to further electrify the market and establish a battery infrastructure investment ecosystem in Thailand. This news matters as it demonstrates the increasing importance of battery banks in the development of electric vehicles and other green applications, while also signaling the potential for growth in the EV market and the emergence of key trends in energy trading.
Summary
U Power Limited (NASDAQ: UCAR), the Chinese EV power solution company, has entered into a memorandum of understanding with Velo Labs Technology Ltd. to establish a battery infrastructure investment ecosystem in Thailand. The collaboration aims to create a battery bank asset and fund trading platform based on Velo's blockchain technology, attracting external funding to promote the large-scale development of the battery bank industry for electric vehicles and other green applications. U Power's advanced technology allows for quick battery swaps, addressing time challenges and eliminating the fear of running out of battery life.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, U Power and Velo Labs Team Up to Create Battery Bank Trading and Funding Platform
