[December 19, 2024,BJ Time] – U POWER Tech has successfully completed its Series B financing round, raising a total of several hundred million RMB. The round was led by Hefei Industrial Investment, with participation from Xuzhou Industrial Development Fund and Bosch Group’s Boyuan Capital. The funds will be used to advance the mass production and capacity expansion of the UP VAN, supporting the company’s rapid growth in the electric commercial vehicle market and the global application of its skateboard chassis technology.
U POWER Tech is committed to providing innovative electric and intelligent vehicle solutions. Its UP VAN series, built on standardized and modular skateboard chassis technology, has emerged as a highly competitive and groundbreaking product. In August of this year, the UP VAN electric urban logistics vehicle, developed in collaboration with King Long, received the European Whole Vehicle Type Approval (WVTA). Following its debut at the IAA Mobility Show in Hannover, Germany, the UP VAN officially entered the European market. Additionally, U POWER’s customized vehicle chassis products have been delivered to U.S. customers, marking the beginning of a new chapter in its overseas sales. These advancements provide U POWER’s global customers with a diverse range of high-performance electric vehicle options, further accelerating the company’s expansion in international markets.
