U Power tokenises battery swap assets on blockchain

U Power has launched tokenised real-world assets on the BNB Chain blockchain linked to its battery swapping infrastructure, in collaboration with infrastructure platform PicWe. The initiative will initially focus on Southern Europe, where the company is deploying battery swap stations for commercial electric vehicle (EV) fleets, before expanding to Southeast Asia, Hong Kong, and South America.

The tokenisation covers assets connected to U Power’s operational battery swap stations, which use the company’s UOTTA modular technology. These stations are currently generating revenue in China and Southeast Asia, and are being scaled in Southern Europe through partnerships with local transport and logistics operators. U Power recently announced a joint venture with US-based FTT Holding Company, which plans to commit up to US$50m to support battery swapping deployment across Southern Europe.

The company said the tokenisation framework is designed to enable new forms of participation in energy infrastructure beyond traditional consumption-based models, subject to local regulatory requirements. U Power described the initiative as part of its broader strategic expansion of its battery swapping business.

Source: U Power