U Power's strategic collaborator UNEX EV has inked a Letter of Intent with Didi Mobility to deploy UOTTA(TM) battery-swapping electric vehicles in Mexico.
U Power Limited, UNEX EV B.V., and Didi Mobility have joined forces in a strategic partnership aimed at accelerating the green transformation of Mexico's transportation industry. This collaboration is set to enhance energy efficiency, support environmental protection, and capitalize on the rapidly expanding electric vehicle (EV) market in Mexico.
The partnership involves the deployment of U Power's proprietary UOTTA™ battery-swapping electric vehicles in Mexico's ride-hailing and car rental sectors. UNEX EV, having signed a Letter of Intent (LOI) with Didi Mobility, will be at the forefront of this initiative. The goal is to leverage battery-swapping technology to meet the growing demand for EVs in Mexico's transportation market.
Mexico's ride-hailing market, currently valued at $2.2 billion, is projected to grow at a compound annual growth rate (CAGR) of 13.2% to reach $7.5 billion by 2033. The Mexican government supports green transportation goals, with expectations that EVs will represent 30-40% of new ride-hailing and taxi vehicle purchases by 2027.
U Power and UNEX EV are not only supplying vehicles but also providing spare parts, maintenance, and battery recycling services. This emphasis on sustainability through cascade utilization, recycling, and battery life extension via ongoing technology innovations underscores the partners' commitment to a greener future.
Didi Mobility's fleet platform will play a crucial role in this collaboration by encouraging drivers to transition to electric vehicles, thereby fostering market adoption. U Power's CEO emphasized the importance of this collaboration for green transformation in Mexico’s transportation sector, highlighting their integrated ecosystem approach connecting vehicles, drivers, and battery-swapping infrastructure to support scalable, long-term growth.
U Power's involvement in Latin America supports the region's decarbonization efforts, and the company aims to capitalize on increasing demand for electric vehicles and smart mobility solutions. U Power has an established presence in markets like Peru and is actively exploring opportunities across Latin America.
The agreement includes the sale of spare parts and provision of maintenance services. Upon entering a definitive agreement, UNEX EV will recommend and provide battery-swapping vehicle models suitable for the Mexico market and establish a stable supply chain.
This collaboration between U Power, UNEX EV, and Didi Mobility continues to promote the deployment of battery-swapping vehicles in Mexico, aligning with Mexico's electrification goals and the broader global shift toward zero-emission transportation. Mexico is actively reshaping its transportation landscape through electrification, integrated planning, and sustainable financing. U Power's participation in Mexico aligns with the company's strategic alignment with Mexico's national mobility goals.
In summary, U Power Limited, UNEX EV B.V., and Didi Mobility are contributing to Mexico’s EV ride-hailing and car rental markets by deploying battery-swapping vehicles and associated services, aiming to extend battery life through continuous technology innovation and supporting long-term and scalable growth.
%20battery-swapping%20electric%20vehicles%20in%20Mexico.){kind=link}