U Power Limited (Nasdaq: UCAR), a company specializing in AI-integrated solutions for advanced energy grids and intelligent transportation systems, has released its financial results for the fiscal year that ended on December 31, 2025. This announcement highlights the company’s commitment to becoming a provider of sustainable mobility and energy solutions, particularly through its proprietary UOTTATM electric vehicle (EV) battery-swapping technology.
Financial Highlights for FY 2025
The company’s total revenue for FY 2025 amounted to RMB41.1 million (approximately $5.9 million), a decline from RMB44.3 million recorded in the same period of 2024. However, U Power reported a gross profit of RMB14.9 million (around $2.1 million), up from RMB10.5 million in FY 2024, resulting in a gross margin increase to 36.3% from 23.6% year-over-year. Despite these positives, the net loss for FY 2025 reached RMB80.5 million (or $11.4 million), compared to a loss of RMB56.3 million during the previous fiscal year. As of December 31, 2025, the company held cash and cash equivalents totaling RMB22.0 million ($3.1 million), a slight decrease from RMB23.4 million as of December 31, 2024.
Operational Highlights for FY 2025
In Thailand, U Power successfully launched Southeast Asia’s inaugural battery-swapping taxi fleet on Phuket Island, alongside the region’s first smart battery-swapping station. A strategic partnership with Whale Logistics Ltd. was also established to implement up to 1,000 battery-swapping electric truck tractors, contributing to a larger goal of delivering 4,200 SAIC-Hongyan heavy trucks. The company is also exploring battery-swapping agricultural drones through a collaboration with Chia Tai Co., Ltd.
In Hong Kong SAR, U Power opened its first operational smart battery-swapping station and is planning to establish a total of 50 such stations, along with deploying 300 battery-swapping vehicles. In Southern Europe, a joint venture with ANTRAL aims to provide battery-swapping stations for 150 to 200 electric taxis. Additionally, a sales agreement worth €540,000 was reached with Polestar Energy S.L. for the rollout of twenty battery-swapping electric vans and an accompanying station in Italy, with prospects for expansion into Spain, Portugal, and Albania.
In Latin America, U Power has formed a strategic partnership in Mexico to introduce battery-swapping vehicles for ride-hailing services, while in Peru, it conducted a pilot project involving two- and three-wheeled vehicles for Treep Mobility Group S.A.C., delivering 50 such vehicles along with eight battery-swapping cabinets and corresponding batteries for taxi operations.
Operational Milestones for 2026
As U Power entered 2026, it aimed to expand its UOTTA™ battery-swapping platform in global markets while also venturing into digital and AI-driven energy solutions. Key milestones achieved in early 2026 include:
In Thailand, the company completed extensive operational testing and integration of heavy-duty truck prototypes, with the first batch of 30 trucks ready for shipment to Whale Logistics by late May 2026 as part of the 1,000-vehicle initiative. In Hong Kong SAR, road testing and compatibility validation of the battery-swapping taxi fleet has been finalized, and the first batch of 60 taxis and a supporting battery-swapping station are anticipated to be delivered in the second quarter of 2026.
U Power also introduced a tokenized real-world asset initiative on the BNB Chain in January 2026, focusing initially on the Southern Europe market, with plans to expand further. Additionally, in April 2026, the company initiated AI-driven energy management solutions for Intelligent Data Centers (IDCs) in partnership with Guofu Hydrogen Energy (Hong Kong) Development Co., Limited and Cloud Digital Chain Limited.
Mr. Jia Li, the CEO and Chairman of U Power, remarked on the results of FY 2025, stating, “2025 was a transformative year for U Power as we advanced our overseas battery-swapping strategy through international expansion and R&D investment. While revenue declined during the year, gross profit rose 42.6% and gross margin expanded to 36.3% from 23.6%, reflecting our shift toward higher-margin international markets.” He expressed confidence that the company is well-positioned to support its growth plans for 2026.
Mr. Li added, “U Power is working towards creating an AI-powered intelligent energy and transportation network. Our automated battery-swapping stations are designed to be efficient energy-replenishment facilities for commercial EVs and essential infrastructure nodes linking intelligent dispatch systems to real-world transportation.” He concluded by highlighting the company’s intent to diversify its offerings into AI-driven energy solutions for IDCs, which could further position U Power as a leader in sustainable mobility and energy provision.
Source: TradingView
