U Power, a company specialising in electric vehicle (EV) battery-swapping technology, has entered into a joint venture with its Thai subsidiary, U SWAP, and SUSCO.

This partnership will deploy U Power's UOTTA EV battery-swapping system at SUSCO fuelling stations throughout Thailand.

Scaling EV battery-swapping infrastructure in Southeast Asia

Li Jia, Chairman and Chief Executive Officer of U Power, stated that the joint venture marks a significant step in the company's global expansion strategy, particularly in Southeast Asia.

He noted that Thailand's ambitious EV targets render the partnership with SUSCO both timely and strategically important, as it creates immediate opportunities to scale battery-swapping technology across the region.

SUSCO, a publicly listed energy provider, will integrate battery-swapping capabilities into its nationwide fueling network. The initial deployment will focus on high-utilisation fleets, such as taxis and ride-hailing services.

Strategic investment and alignment with national policy

Chatchaval Jiaravanon, associated with the Charoen Pokphand Group, has invested in the joint venture.

In his capacity as Chairman of Charoen Energy and Water Asia, he expressed strong confidence in the potential of the partnership to contribute to the development of Thailand's electric mobility sector.

The initiative aligns with Thailand's "30@30" policy, which aims for electric vehicles to constitute 30% of new car sales by 2030.

Government incentives supporting both charging infrastructure and battery-swapping stations are expected to further reinforce the venture's prospects.

Addressing the needs of high-volume commercial fleets

Thailand's extensive taxi and ride-hailing fleets often experience operational delays due to lengthy EV charging times.

The collaboration between U Power and SUSCO is designed to mitigate these challenges by offering fast and reliable battery-swapping services. This approach is expected to enhance profitability for fleet operators and accelerate the adoption of electric vehicles.

Li Jia remarked that Thailand is entering a transformative phase in electric mobility and that the partnership with SUSCO positions U Power to play a key role in this transition.

The venture aims to strengthen Thailand's sustainable transport infrastructure while establishing a scalable business model applicable to other markets in Southeast Asia and beyond.