U Power rises on joint venture with Thailand's SUSCO

U Power

24/03/2025 11:52

** Battery technology firm U Power's UCAR.O shares rise 8.5% to $3.06 premarket

** Co says it has signed a joint venture agreement between its Thai subsidiary, U SWAP, and SUSCO SUSCO.BK, an energy provider with a network of fueling stations throughout Thailand

** Says JV will deploy U Power's UOTTA battery-swapping technology across SUSCO's station network

** UCAR says strategic partnership is to address rapid EV growth driven by government policy changes in Thailand

** Up to last close, shares down 57.5% YTD

 (Reporting by Tanay Dhumal in Bengaluru)

 ((Tanay.Dhumal@thomsonreuters.com;
Twitter: https://twitter.com/TanayDhumal))