# Upincar Automobile Service (Shanghai) Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/upincar-automobile-service-shanghai-co

- Industry: Energy Storage & Batteries
- Headquarters: Shanghai, China
- Website: www.upincar.com
- Latest round: Series A (Dec 30, 2016)
- Investors on record: 3

## About

Based in Shanghai, China, and established in 2013, U Power is a new energy vehicle services company that provides automated battery-swapping stations services. It started as a broker vehicle sales between wholesalers and buyers. In 2020, it shifted its business to developing automated battery-swapping stations, under the UOTTA brand. In 2021, it partnered with auto manufacturers to adopt certain EV models. In 2022, it started operating battery-swapping stations and cooperated with local gas station operators in Quanzhou City. Moreover, it established cooperation with Chinese automobile manufacturers, FAW Jiefang Qingdao Automotive Co., Ltd, and HUBEI TRI-RING Motor Co., Ltd, to jointly develop UOTTA-powered electric trucks.  In March 2023, it was listed on NASD Stock Exchange under the symbol UCAR. 

U Power provides automated battery-swapping stations business for electric vehicles, including ride-hailing passenger EVs, small logistics EVs, light electric trucks, and heavy electric trucks. As of February 2023, it established five battery-swapping stations. Besides, it developed a data management platform that connects UOTTA-powered EVs and stations and assists the UOTTA-powered EV drivers in locating the closest compatible UOTTA swapping stations on their routes.

## Funding rounds

- Series A, Dec 30, 2016 — Weilie Capital, 9C Capital, Yinghai Jiuyuan Investment Management

## Investors

- Weilie Capital (https://capitalatlas.ai/funds/weilie-capital) — Series A
- 9C Capital (https://capitalatlas.ai/funds/9c-capital) — Series A
- Yinghai Jiuyuan Investment Management (https://capitalatlas.ai/funds/yinghai-jiuyuan-investment-management) — Series A