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BEIJING, Feb. 6, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced substantial expansion in its charging interconnectivity business, adding approximately 6.4 million new registered users in 2024. As of December 31, 2024, the total registered users through NaaS's strategic partner, the Kuaidian platform, reached nearly 19 million, covering over 60% of China's new energy vehicle (NEV) owners. This estimate is based on data from China's Ministry of Public Security, which reported 31.4 million NEVs in the country by the end of 2024. With China's sales penetration rate of NEV hitting 52% in November 2024 and projected to continue to climb in 2025, demand for intelligent and efficient charging solutions continues to accelerate. NaaS is accelerating its interconnectivity expansion by deepening both demand and supply-side partnerships with auto OEMs, third-party online platforms, and charge point operators. As of September 30, 2024, NaaS had connected nearly 1.15 million chargers, representing 35% of China's public charging infrastructure. Through multi-faceted collaborations, NaaS is reinforcing its commitment to delivering scalable and high-quality charging solutions. By continuously expanding network coverage and optimizing service efficiency, the Company is streamlining EV charging, making it more accessible, seamless, and dependable for the rapidly growing NEV user base. Ms. Yang Wang, Chief Executive Officer of NaaS, stated:" The rapid user growth reflects the growing demand for smart, high-efficiency charging solutions. By expanding our interconnectivity network and deepening collaborations across the EV ecosystem, we are committed to delivering a superior charging experience and driving the industry toward a more connected future." Mr. Steven Sim, Chief Financial Officer of NaaS, added, "The expansion of our interconnectivity business reaffirms NaaS' strong market position and the trust we've built with millions of EV drivers. As the industry continues its rapid transformation, we are focused on further optimizing our platform, leveraging data-driven insights, and accelerating our partnerships to drive sustainable growth." About NaaS Technology Inc. NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop solutions to energy asset owners comprising charging services, energy solutions and new initiatives, supporting every stage of energy assets' lifecycle and facilitating energy transition. Safe Harbor Statement This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS' goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China's EV charging industry and EV charging service industry and NaaS' future business development; demand for and market acceptance of NaaS' products and services; NaaS' ability to protect and enforce its intellectual property rights; NaaS' ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS' operation, fluctuations of the RMB exchange rate, and NaaS' ability to obtain adequate financing for its planned capital expenditure requirements; NaaS' relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS' filings with the SEC. For investor and media inquiries, please contact: Investor RelationsNaaS Technology Inc.E-mail: ir@enaas.comMedia inquiries:E-mail: pr@enaas.com
TOKYO, Feb. 6, 2025 /PRNewswire/ -- With its strong belief in the role of renewable energy towards a progressive future, SMART ENERGY WEEK [February] continues to enrich industry expertise with the launch of its much-awaited conference programme for 2025, alongside a new exhibit area for photovoltaics. This renowned show in the energy sector, organised by RX Japan Ltd., is set to welcome attendees on February 19–21, 2025, at Tokyo Big Sight. The Spring edition will also bring leading industry brands to exhibit, such as Huawei Technologies Co. Ltd., Mitsubishi Heavy Industries Ltd., Vento Energy Support, and Windy Network Inc., to name a few. Thought Leaders & Valuable Business Insights SMART ENERGY WEEK [February] recently unveiled an impressive lineup of speakers for its conference programme. All sessions promise visitors an opportunity to listen to experts on where the industry is headed so that they may leverage insights to elevate expertise and business. A simultaneous AI translation system is also available for real-time learning and accessibility. General topics to be discussed are: innovations in batteries and how they can support societal sustainability, the latest trends in fuel cells and hydrogen, current practices in biomass energy production, the expansion of solar power generation technology, turning thermal power generation carbon-neutral, and the construction of power systems in the face of AI. Keynote speeches will also be held across the 3-day event on climate change and its impacts on energy, as well as on adapting circular economies and managing decarbonisation efforts in lieu of the 2050 carbon-neutrality goals. Industry leaders and authorities alike will spearhead these sessions. Some notable speakers are Ryota Kondo from the Ministry of the Environment Government of Japan, Akiyo Miyakawa from the Development Bank of Japan Inc., Tomoko Morikawa from the Mitsubishi Heavy Industries, Ltd., and Daisuke Hirota from the Ministry of Economy, Trade and Industry. Diversifying Its Reach: Launch of the BIPV World Attendees will also be introduced to a new specialised exhibiting area this 2025, located in the PV Expo show zone—BIPV World. This special programme is co-organised with the Japan Photovoltaic Energy Association, where products, services, and technologies concerned with building-integrated photovoltaics will be displayed. BIPV or Building-Integrated Photovoltaics, are next-level solar power equipment. Instead of just panels, BIPVs are actual parts of the building structure that store and generate energy. This can be in the form of flooring, glazing, awnings, integrated roofs, and many more. At SMART ENERGY WEEK [February], buyers of BIPV come from sectors such as housing manufacturing and building, architectural firms, construction, trading companies, government offices, and commercial facilities. Exhibitors, on the other hand, for this specialised area deal with the following: Perovskite Solar Cells Solar Cell-Integrated Glass Building Materials Solar Cell-Integrated Exterior Wall Materials Solar Cell-Integrated Roofing Materials Colouring and Decorative Films Waterproofing and Insulation Technology Energy Management System Power Conversion and Inverters Mounting Systems and Installation Technology BIPV will host seminars daily across the expo's 3-day event for exhibitors to introduce their top-calibre products and services. This is alongside real-time business meetings, specifically tailored to technical proposals, design consultations, equipment & materials specifications, and discussions for delivery schedules. Expanding for Progress This show zone expansion and continuous investment of value to conferences (and the market insights it offers professionals), demonstrates the unfailing ability of SMART ENERGY WEEK [February] to find the pulse of the industry and where it is headed. Enriching the expertise that it provides stakeholders in the energy sector remains the expo's priority, as it recognises the indispensable role of delivering timely and quality innovations and information to business growth and success. To know more about SMART ENERGY WEEK [February], please visit this site：https://www.wsew.jp/spring/en-gb/register.html?cat=visitor&ct=U2FsdGVkX18LmRNiENF5[…]I=&utm_source=pr&utm_medium=banner&utm_campaign=spring_taiwanen About RX (Reed Exhibitions) RX is in the business of building businesses for individuals, communities, and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products, and complete transactions at approximately 400 events in 22 countries across 42 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com About RX Japan RX Japan organises 90 exhibitions, composed of 372 sub-exhibitions, annually at large exhibition halls such as Tokyo Big Sight, Makuhari Messe, and Intex Osaka across a wide variety of 39 fields, including jewellery, fashion, gift items, electronics, energy, IT, cosmetics, and medical. Visit the RX Japan website for more details. CONTACT: Smart Energy Week Show Management, wsew.jp@rxglobal.com
JAKARTA, Indonesia, Feb. 5, 2025 /PRNewswire/ -- As global business communities place greater emphasis on sustainability, the potential of ASEAN's blue economy offers a renewed opportunity for forward-thinking businesses and investors. The ASEAN Blue Innovation Expo and Business Matching, set for 19 February 2025 at Menara Mandiri Jakarta, will convene startups, businesses, investors, policymakers, and development partners to explore cutting-edge innovations from ASEAN and Timor-Leste. From digitally driven aquaculture to biotechnologies, plastic alternatives, and blue carbon conservation, the event will showcase ventures that drive sustainable economic growth while protecting marine and freshwater ecosystems. ASEAN Blue Economy Innovation Expo and Business Matching Unlocking Investment for Blue Economy This event marks the highlight of the ASEAN Blue Economy Innovation (ABEI) Project initiated by UNDP Indonesia, ASEAN Secretariat and Permanent Mission of Japan in ASEAN, funded by the Government of Japan. Aligned with the ASEAN Blue Economy Framework, adopted in 2023, the project aims to drive the sustainable use of ocean and inland water resources for inclusive growth across ASEAN and Timor-Leste. As coastal communities across ASEAN and Timor-Leste wrestle with rising sea levels and overfishing threatens global food supplies, the need for innovative solutions has never been more urgent. Investors and established business communities have a unique opportunity to be part of this transformative journey. Innovative Solutions from Across ASEAN The Expo will feature 60 innovations from startups, MSMEs, NGOs, and academic institutions, selected from over 1,300 applications, who are developing solutions in four key areas, such as sustainable fisheries and aquaculture, plastic pollution, climate issues, and sustainable tourism. In addition to the highlight of 60 pitching sessions, the event features inspirational talks and panel discussions led by leading impact investors and blue business leaders in the ASEAN countries. Why Now? The blue economy presents new paradigm for the role of ocean. By 2030, its contribution to the global economy is projected to reach $3 trillion, generating 43 million jobs, with it playing a key role in driving inclusive growth in ASEAN. With ASEAN countries' increasing interests on food security, carbon neutrality, and zero plastic waste, alongside accelerating digitalization and AI, the time is ripe to focus on the blue economy's potential. Participants in this event will gain insights into the forefront of this high-potential sector, helping shape the future of sustainable marine and freshwater economies in ASEAN. Secure your spot now and be part of the future of blue innovation! Register here: https://www.undp.org/indonesia/asean-blue-innovation-challenge. Contactnabilla.rahmani@undp.org
TASHKENT, Uzbekistan, Jan. 24, 2025 /PRNewswire/ -- Sungrow, the global leading PV inverter and energy storage system (ESS) provider, in partnership with China Energy Engineering Corporation (CEEC), are proud to announce the successful commissioning of a groundbreaking Lochin 150MW/300MWh energy storage project in Andijan Region, Uzbekistan. Installed with Sungrow's cutting-edge liquid-cooled ESS PowerTitan 2.0, this facility marks Uzbekistan's first energy storage project and stands as the largest of its kind in Central Asia. The project will play a pivotal role in driving the region's energy transition forward and setting a sustainable precedent. Sungrow Supplies Lochin 150MW/300MWh Energy Storage Project in Uzbekistan Within the Framework of the Sustainable Development Uzbekistan is planning a rapid increase in renewable actions. In early 2024, the Uzbek government raised its renewable energy target from 25% to 40% of the electricity mix by 2030. In addition, Uzbekistan heads to establish a more market-oriented electricity sector, with a new electricity legislation enacted last July. The introduction of energy storage projects provides greater supply security and helps mitigate the intermittency of renewable generation. As a vital part of the national plan, the Lochin 300MWh BESS project will provide 2,190GWh of firm capacity and flexible power annually to support a more resilient local electricity grid. Sungrow supplied its PowerTitan BESS which is embedded with the grid-forming technology, delivering voltage regulation, frequency response, and oscillation damping services, ensuring a stable voltage and frequency in the weak Uzbekistan grid. Standout Features of PowerTitan 2.0 The PowerTitan 2.0 is a professional integration of Sungrow's power electronics, electrochemistry, and power grid support technologies. The all-in-one AC-DC block design, with pre-assembled battery modules and PCS, ensures seamless integration and ease of installation, streamlining the grid connection time by 50%. It offers a highly scalable design with plug-and-play architecture, supported by pre-certified fire safety compliance testing. Sungrow also conducted the world's largest BESS burn test for PowerTitan 2.0 last October, setting new safety standards. It integrates iSolarBPS, pioneering battery pre-diagnostics with real-time monitoring and three-tier warning capabilities. Central Asia has the potential to make an important contribution to the global energy transition. Sungrow has held a leading position in both PV and energy storage markets, and has supplied one of Kazakhstan's largest solar power plants. The company is prepared to power the region with a future-proof product portfolio and professional services, fully support the Central Asia's renewable ambition, and foster more community engagements. About Sungrow Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world's No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the world's most bankable energy storage company (BloombergNEF). Its innovations power clean energy projects in over 180 countries, supported by a network of 520 service outlets guaranteeing excellent customer experience. At Sungrow, we're committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com. ContactMina Zhangmina.zhang@cn.sungrowpower.com
LONDON, Feb. 4, 2025 /PRNewswire/ -- The latest report from the Energy Transitions Commission, Achieving Zero-Carbon Buildings: Electric, Efficient and Flexible, draws a complete picture of the buildings sector's emissions and energy use and describes how a combination of electric, efficient and flexible solutions can decarbonise buildings, improve standards of living, and reduce energy bills if supported by ambitious policy. New Report from Energy Transitions Commission on Buildings Sector Decarbonisation The global buildings sector currently contributes a third of greenhouse gas emissions (12.3 GtCO2 in 2022).[1] This comes from the use of fossil fuels for heating, cooling, cooking, lighting, powering appliances, and constructing residential and commercial buildings. There is not a one-size-fits-all solution for decarbonisation, as different solutions work for different building types, countries, and climates, but three key priorities stand out for creating a zero-carbon dioxide emissions buildings sector: Electrification replacing fossil fuels: Decarbonising heating and cooking is essential. Currently, gas and oil heating accounts for 8% of global emissions, or 3 GtCO2. Switching from fossil-based heating and cooking to cost-effective electric and efficient technologies, such as heat pumps and electric hobs, is crucial and must be accompanied by the continued decarbonisation of electricity generation. By 2050, 80% of the energy used in buildings could be electricity; this would bring annual emissions from building use close to zero if electricity supply is decarbonised by then. Dramatically improving energy efficiency: Rising use of air conditioners and the electrification of heating and cooking would result in electricity demand for buildings almost tripling, from 12,800 TWh to around 35,000 TWh by 2050 if energy efficiency is not simultaneously increased. But this could be reduced to around 18,500 TWh via a combination of:- Improvements in the technical efficiency of heat pumps, air conditioners, and other appliances.- Improvements in the energy efficiency of both new and existing buildings, considering a range of so-called "passive heating and cooling" building design techniques, such as insulation and painting roofs white in hot countries.- Smart building management systems and consumer choices which avoid wasteful use of heating or cooling.These improvements, together with the deployment of building-level batteries and other energy storage, smart building control systems, and rooftop solar generation are particularly important for reducing the growth of peak electricity demand, which is a crucial driver of electricity system costs. Constructing efficient and low-carbon buildings: Constructing new buildings accounts for 7% of global emissions a year, or 2.5 GtCO2. Global floor area (area covered by buildings) is set to expand by 55% by 2050 (or 140 billion m2, which is almost 150 times the size of Hong Kong), predominantly in Asia, Africa and South America. If the average carbon intensity of construction remains unchanged, this expansion would result in a cumulative 75 GtCO2 emissions between now and 2050.[2] These cumulative emissions could be reduced to around 30 GtCO2 via a combination of:- Decarbonising the production of steel, cement, concrete, and other building materials.- Using fewer materials in building construction via lightweight design and modular construction or using less carbon-intensive materials such as timber.- Better utilising existing buildings via extended building lifetimes and shared working spaces. "Decarbonising the buildings sector is a story of many transitions. It's vital for our climate goals and it's an opportunity to improve living standards and reduce energy costs. Electric heating and cooking technologies will significantly improve air quality and have lower running costs than gas heating and traditional use of biomass. Cooling is essential to quality of life, especially as global warming intensifies due to man-made emissions. It is possible to achieve zero-emissions, efficient, and flexible homes with low-carbon building design techniques and technology that runs on clean electricity." said Adair Turner, Chair of the Energy Transitions Commission. However, implementing some of the decarbonisation options for buildings poses more complex challenges than faced in other sectors of the economy, for instance: For existing buildings, residential and commercial building owners can choose from many different low-carbon technologies and options to improve the energy efficiency of their homes, some of which can be disruptive and involve high upfront costs (e.g., roof or wall insulation, new windows, higher-efficiency heating and ventilation systems). The availability and cost of finance vary greatly between low and high-income households and across countries. Government policies must therefore combine clear targets to ban the sale of fossil-fuel boilers and cookers, with financial support for low-income families, as well as external finance (e.g., from multilateral development banks) to lower-income countries. For new construction, specific optimal solutions vary by country, regional climate, and building type, and there are sometimes trade-offs to be struck between designing to minimise construction emissions versus in-use operational emissions. In addition, construction sectors often entail complex value chains of subcontracting and a large role for small and medium enterprises. Careful design and implementation of building design and construction codes, learning from international experience but tailored to specific circumstances is therefore vital. "Unless we can radically decarbonise buildings we will fail to keep global warming under 1.5°C outlined in the Paris Accord. To do that we need to make changes all the way through the design, delivery and operation of buildings – from electrification of heating and passive cooling, to reducing embodied carbon emissions for new buildings and refurbishments." said Stephen Hill, Sustainability and Building Performance Expert at Arup. "This will require collaboration right across sector, between governments, industry bodies and private companies. We need to be ambitious, but if we get it right we can cut carbon, generate value for our economy and improve people's quality of life through action like improving living conditions and reducing fuel poverty." Given the complexity of the buildings sector decarbonisation challenge, the report sets out a detailed analysis of 7 different, though overlapping, challenges. Summaries of the nature of the problem, clean technologies, and actions required can be accessed via the links below: Topic Key audience The heating decarbonisation challenge (focus on Northern latitude countries) How electric heating and cost-effective insulation can displace fossil fuels. Policymakers, residential households, energy and technology companies, financial institutions Increasing access to affordable cooling Managing rising demand in a warming climate with a combination of passive cooling and efficient air conditioning Policymakers, residential and commercial building owners Improving access to clean cooking Eliminating the traditional use of biomass in low-income countries and shifting to electric cooking solutions globally. Policymakers, residential homeowners Efficient lighting and appliances Improving the energy efficiency of lighting and appliances in residential and commercial buildings. Commercial building owners, technology companies Decarbonising commercial buildings Creating strong market demand signals for low-carbon, efficient, and flexible buildings. Policymakers, financial institutions, building owners, commercial businesses Buildings within a clean energy system Managing total and peak electricity demand from buildings via efficiency and flexibility. Policymakers, energy companies and network operators The new build opportunity Decarbonising steel and cement, combined with better building techniques Policymakers, developers, construction companies, financial institutions "Buildings are responsible for one-third of the world's carbon emissions. Harnessing the power of electrification, on-site generation, digital controls, IoT, big data and digital twins can make a net zero-carbon future in our built environment possible. Incorporating these technologies into new constructions or retrofitting existing buildings benefits the planet as well as the safety, resilience, and comfort of our buildings." said Jean-Pascal Tricoire, Chairman of Schneider Electric. "WorldGBC mobilises a global network towards the just transition of the built environment for people and planet. We are proud to support this ETC report. It is a timely reminder of the connection between buildings and the energy system. The two are intrinsically linked – we cannot decarbonise one without the other." said Cristina Gamboa, CEO of World Green Building Council (WorldGBC). "A comprehensive, informative and crucial contribution to advance climate action, this ETC report on building decarbonization provides a holistic and pragmatic view of how the building sector can transition to a low-carbon future. A must-read for policymakers and industry leaders alike, the report's regional approach ensures tailored solutions and valuable insights from best practice to turn ambition into action." said Roxanna Slavcheva, Global Lead for Built Environment at World Resources Institute (WRI). Achieving Zero-Carbon Buildings: Electric, Efficient and Flexible has been developed in collaboration with ETC members from across industry, financial institutions, and civil society. The ETC is a global coalition of leaders from across the energy landscape committed to achieving net-zero emissions by mid-century whose members include Arup, bp, HSBC, Iberdrola, National Grid, Octopus Energy, Petronas, Saint Gobain, Schneider Electric, Shell, SSE, Rabobank, Vattenfall, We Mean Business, and World Resources Institute. This report constitutes a collective view of the ETC, however, it should not be taken as members agreeing with every finding or recommendation. Download the report: https://www.energy-transitions.org/publications/achieving-zero-carbon-buildings For further information on the ETC please visit: https://www.energy-transitions.org [1] IEA (2023), Buildings, available at www.iea.org/energy-system/buildings.[2] Forster et al. (2024), Indicators of Global Climate Change 2023: annual update of key indicators of the state of the climate system and human influence.
Cooperation agreement will see U Power's battery-swapping technology applied to SAIC Motor-CP's Thai MG brand of vehicles SHANGHAI, Feb. 3, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it has signed a cooperation agreement with SAIC Motor-CP Co. Ltd. ("SAIC Motor-CP"), a joint venture company of Chinese automotive industry group CP Group and Thai industry conglomerate CP Group, to integrate U Power's battery-swapping technology into the company's MG brand of vehicles for sale in Thailand. Under the agreement, U Power will adapt its existing battery-swapping technology and infrastructure to support SAIC Motor-CP's Thai MG brand vehicles, and will work to develop a comprehensive network of swapping stations and operating systems in the Thai market. SAIC Motor-CP will provide technical expertise and warranty support for the vehicles, creating an integrated solution for commercial fleet operators. The initial focus will be on Thailand's taxi and ride-hailing markets. Both companies plan to expand their battery-swapping solution to additional markets in the future, leveraging their combined expertise and resources to accelerate the transition to sustainable commercial transportation. The partnership combines U Power's innovative UOTTA battery-swapping technology with SAIC Motor-CP's automotive expertise to address critical charging infrastructure challenges in Thailand's rapidly growing electric vehicle market. "This partnership represents a significant milestone in accelerating electric vehicle adoption in Thailand's commercial transportation sector," said Li Jia, Chairman and CEO of U Power. "With Thailand's taxi and ride-sharing fleet exceeding 300,000 vehicles, and projections indicating 50% electrification within five years, our battery-swapping technology offers a practical solution to the charging challenges faced by high-utilization vehicles. In addition, this collaboration builds on strong existing relationships between our two companies, notably through Chatchaval Jiaravanon, U Power's second-largest shareholder and member of the Thai CP Group family, whose deep understanding of both organizations has helped facilitate this strategic alignment. We are eager to work together to drive innovation and build the foundation for Thailand's EV future." "By combining our automotive expertise with U Power's innovative battery-swapping technology, we are creating a comprehensive solution that meets the unique operational demands of taxi fleet operators," said Feng Zhao, President of SAIC-Motor CP. "Thailand's EV3.5 policy is expected to drive 30-40% annual growth in electric vehicle adoption, and our partnership with U Power positions us to capitalize on this growth. The ability to quickly swap batteries rather than wait for charging will be transformative for the taxi and ride-hailing sectors, where vehicle downtime directly impacts business performance. We are confident this collaboration will accelerate Thailand's transition to sustainable commercial transportation while establishing a model that can be replicated in other markets." About U Power LimitedU Power Limited is a vehicle sourcing services provider, with a vision to becoming an EV market player primarily focused on its proprietary battery-swapping technology, or UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs. Since its operation in 2013, the Company has established a vehicle sourcing network in China's lower-tier cities. The Company has developed two types of battery-swapping stations for compatible EVs and is operating one manufacturing factory in Zibo City, Shandong Province, China. For more information, please visit the Company's website: http://ir.upincar.com/. Forward-Looking StatementsThis press release contains "forward-looking statements". Forward-looking statements reflect the Company's current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
Green Technology
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