Vehicle sourcing services provider U Power Limited announced it signed a Memorandum of Understanding (“MoU”) with Cornerstone Technologies Holdings Limited, EV charging solution provider and charge point operator based in Hong Kong and South East Asia, to jointly explore and develop a strategic business relationship.
Power Limited said it “has a vision to becoming a comprehensive EV battery power solution provider in China.”
Pursuant to the MoU, U Power and Cornerstone intend to jointly assess and promote the application of new energy charging equipment and EV product solutions, such as battery swapping stations and other charging equipment to provide effective and sustainable solutions in Hong Kong and the Southeast Asia region, according to the companies. In addition, both parties have agreed to explore the possibility of investing into a Joint Venture for the business.
