U Power, a provider of comprehensive electric vehicle (EV) battery-swapping solutions with a vision of becoming a smart energy grid solutions provider, announced the launch of its innovative Battery-Bank initiative and the development of a Battery-Token solution, using Web 3.0 blockchain and token-based economics.

The launch of the Battery-Bank and Battery-Token strategy was announced by U Power's strategic investor, Mr. Chatchaval Jiaravanon, during the "Web 3.0 Battery Swap Ecosystem Strategy Launch" event held in Hong Kong on June 20, 2025. Of note, Mr. Jiaravanon is a core member of the CP Group family, one of Asia's wealthiest families.

Mr. Jiaravanon commented, "U Power's strategy of building intelligent ecosystems that integrate resilient AI, blockchain-driven solutions able to transform EVs into dynamic energy assets, has propelled the Company at the forefront of a global technological revolution for a more sustainable future. Via partnerships and investments in next-generation technologies, U Power is building a green, sustainable, carbon-zero energy storage ecosystem in several markets, including Hong Kong SAR, Singapore, Macau SAR, Peru, Mexico, and Portugal."

Click here to learn more about the EV hub on everything PE.