- U Power and its partner, Whale Logistics, aim to deploy up to 1,000 battery-swapping heavy trucks in Thailand over the next three years.
- The partnership to develop and deploy the trucks was first announced in December 2025.
- Trading in UCAR shares was halted seven times since the market opened, according to NYSE data.
Shares of U Power (UCAR) surged around 80% on Tuesday, breaking past its 100-day moving average for the first time since July 24, 2025, after the company announced the completion of production of the first batch of 30 battery-swapping electric heavy-duty trucks for the Thailand market.
Source: TradingView
On a close-to-close basis, UCAR stock is on track to record its biggest intraday gains since June 1, 2023. Trading in the company's shares was halted seven times since the market opened, according to NYSE data.
The update generated significant buzz on Stocktwits, with retail sentiment changing to ‘extremely bullish’ from ‘bullish’ a day earlier, while message volumes were ‘extremely high’.
Roll Out In Partnership With Whale Logistics
U Power said deliveries are scheduled for late May 2026. The rollout is supported by a partnership with Whale Logistics, with both companies planning to deploy up to 1,000 battery-swapping heavy trucks in Thailand over the next three years.
Built by SAIC Hongyan Automotive under the UNEX EV brand, the trucks aim to improve efficiency by enabling quick battery swaps, reducing downtime and costs. The pilot program will also help U Power refine its technology and expand into other Southeast Asian markets.
“Working closely with Whale Logistics, we expect this pilot deployment to demonstrate the operational advantages of our battery-swapping technology for heavy trucks, and support the broader expansion of our commercial EV solutions across regional logistics markets,” said Johnny Lee, Founder and CEO of U Power.
The partnership to develop and deploy the battery-swapping electric heavy-duty trucks was first announced in December 2025, with operational testing and full-stack integration of the battery-swapping system of the prototype vehicles concluding earlier this month.
Last year, U Power and FTT formed a joint venture to build EV charging, battery-swapping, and next-generation energy infrastructure in Southern Europe, with FTT investing up to $50 million to support the initiative.
What Did Stocktwits Users Say?
One user saw $1.80 as a key resistance level.
Another user expects the stock to rise between 200% and 300%.
The stock has been under some selling pressure this year, declining around 45%.
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