U Power Limited, a company specializing in EV battery swapping technology, has entered a joint venture with its Thai subsidiary, U SWAP, and SUSCO. This partnership will bring U Power’s UOTTA EV battery swapping system to SUSCO fueling stations throughout Thailand.

Scaling EV Battery Swapping Infrastructure in Southeast Asia

“This joint venture represents a significant milestone in U Power’s global expansion strategy. Particularly in Southeast Asia,” said Li Jia, Chairman and CEO of U Power. “Thailand’s ambitious EV targets make our partnership with SUSCO timely and strategically important. It creates immediate opportunities for scaling our battery-swapping technology across the region.”

SUSCO, a publicly traded energy provider, will integrate battery-swapping capabilities across its fueling network. The rollout will target high-utilization fleets like taxis and ride-hailing services.

Strategic Investment and National Policy Alignment

Chatchaval Jiaravanon, linked to the Charoen Pokphand Group, has invested in the joint venture. As Chairman of Charoen Energy and Water Asia, he expressed strong confidence in the partnership’s potential to advance Thailand’s electric transportation sector.

This initiative supports Thailand’s “30@30” policy, which aims to make 30% of new car sales electric by 2030. Government incentives targeting charging infrastructure and EV battery swapping stations could further strengthen the venture’s success.

Meeting Market Demand for High-Volume Fleets

Thailand’s large taxi and ride-hailing fleets face downtime challenges from long EV charging sessions. The U Power-SUSCO partnership intends to solve this by offering fast, reliable battery swapping. U Power believes this strategy improves profitability for fleet operators while speeding up EV adoption.

“Thailand is entering a transformative period in electric mobility, and our partnership with SUSCO positions U Power at the forefront of this exciting transition,” said Li Jia. “Together, we aim not only to enhance Thailand’s green transportation infrastructure but also to establish a profitable and scalable model for other markets in Southeast Asia and beyond.”