U Power and IoTeX to develop EV battery swapping using blockchain, AI, and RWAs, with assets tradable on HabitTrade.
U Power Limited announced the completion of its Real-World Assets (RWAs) issuance through a strategic partnership with IoTeX, a pioneering blockchain platform focused on transforming machine-generated data into collective intelligence for AI.
As per the terms of the agreement, U Power and IoTeX, will collaborate to create a next-generation electric vehicle (EV) battery swapping system that uses blockchain (Web3), AI, and tokenized RWAs. Of note, in July 2025, both companies signed a Memorandum of Understanding (“MOU”) and Business Cooperation Agreement to actively explore the tokenization of RWAs. These issued RWAs are backed by U Power’s battery swapping business and related assets in the China and Southeast Asia, marking a significant milestone in advancing U Power’s Web3.0 strategy to expand its battery-token and battery-bank operations. These corporate asset-backed RWAs have also been approved by IoTeX to be traded on HabitTrade, a global multi-asset trading and infrastructure platform.
At the same time, in collaboration with IoTeX, U Power has completed the development of its foundational Web3.0 infrastructure. Building on this progress, U Power plans to introduce new investment opportunities and value-driven financial instruments to the capital markets as it continues to expand the market share of its proprietary EV battery-swapping technology UOTTA solutions in existing and potential markets.
For more information, visit upower-limited.com.
