U POWER Tech unveils "plug-and-play" EV chassis at CES; a tech and business model set to shake up the EV industry

U POWER Tech, a smart electric vehicle (EV) technology company makes its debut at CES 2024 with its UP Super Board, a skateboard chassis technology that serves as a foundation platform for automakers to slash the development time by at least 6 months.  Along with UP Super Board, UP VAN, the company's first all-electric van built on the platform is also on display at the show.  U POWER delivers the first batch of UP Super Boards to Olympian Motors, a new-gen EV company headquartered in New York. U POWER has signed a development contract for its UP VAN with the Detroit-based LUMOS EV Inc. Powered by U POWER, the LUMOS LC2 VAN will be available in Mexico by mid-2024, followed by further expansion in North America. Leveraging its R&D capabilities and a business model that integrates the global EV industry supply chain, U POWER has announced partnership with business partners in Japan, Southeast Asia, Europe markets, with a goal of accelerating the EV industry transformation.

LAS VEGAS, Jan. 10, 2024 /PRNewswire/ -- U POWER Tech, a smart electric vehicle (EV) technology company is making its debut at CES 2024 with the UP Super Board, a skateboard chassis that serves as a vehicle foundation for automakers to accelerate EV development.

This plug-and-play technology allows automakers to design more customized upper bodies – from sedans, pick-ups, to SUVs and vans, slashing the development time by at least 6 months, ultimately reducing costs and time-to-market for EV products.

The UP Super Board integrates core capabilities of advanced electric vehicles, including electric propulsion, suspension, steering, thermal management, and Level 2+ advanced driver assistance system (ADAS).

"We are pushing the boundary beyond the industry's current chassis capabilities. With the UP Super Board and our business model that integrates the most comprehensive and most competitive global EV supply chain, we are empowering clients to develop electric vehicles for local markets in a shorter time with lower investment," said Paul Li, U POWER Founder and CEO.

Also on display from U POWER is the UP VAN, the company's first all-electric van for urban logistics. As the first vehicle model built on the UP Super Board, the UP VAN features a large payload with over 3,500 pounds, a cargo area volume of up to 339 cubic feet and a range of 171 miles on a single charge. The battery system integrated into the UP Super Board offers more choice in battery solutions that are optimized for diverse production needs.

Since the model was first announced in 2023, the UP VAN has received more than 53,000 orders from clients from the North America, Japan, Southeast Asia, Europe, and China markets. Deliveries will begin in the second half of 2024.

First delivery in the U.S. market
U POWER announced today the first deliveries of UP Super Boards to Olympian Motors, a new-gen EV company headquartered in New York.

Showcasing an elevated class and refined aesthetic, the Olympian Model O1 is also on display at the U POWER CES booth. Olympian Motors is committed to delivering the first batch of EVs to customers in New York, California and Florida in 2024, pursuing a comprehensive nationwide strategy to scale up to 100,000 EV shipments by 2027.

"Today, our team is thrilled to join forces with U POWER at CES 2024. Celebrating a significant milestone, Olympian Motors proudly establishes a strategic alliance with U POWER, accelerating Olympian's distinctive EV vision in the United States" said Eren Alan Canarslan, Founder and CEO of Olympian Motors. "By seamlessly integrating the UP Super Board with Olympian's modular EV architecture, we anticipate game-changing time and capital savings in our manufacturing process."

Strategic partnership on the UP VAN
At CES, U POWER also signed a development contract for its UP VAN with the Detroit-based startup LUMOS EV, based on an established strategic partnership.

According to the development contract, LUMOS will craft its own last-mile commercial van, the LUMOS LC2 built on the U POWER UP VAN model. With industry leading range and payload capacity, the LUMOS LC2 will first sell in Mexico in mid-2024, followed by further expansion in North America with certification testing commencing in early 2025.

"We are very excited to access U POWER's extraordinary EV product design and technical engineering capabilities. Leveraging the 'Powered by U POWER' business model, LUMOS is able to bring this groundbreaking electric van to market more quickly, and allow us to bring real sustainable mobility solutions to customers around the world," said Johnny Cooper, Founder and CEO of LUMOS EV Inc.

U POWER's Paul Li added the two partnerships mark a big milestone for its "GLOCAL" strategy. The strategy is focused on integrating the global EV supply chain and empowering global carmakers to produce vehicles for local markets with short time-to-market, low upfront investment, thus offering more choices of EVs and creating more value for local customers.

U POWER has also announced partnership with Japan's G Three Holdings, Philippine energy industry group ALACO and FEST Electric Delivery Vehicles covering the European market. Under the common goal of accelerating the transformation of the EV industry, U POWER will empower its partners to launch "Powered by U POWER" electric vehicle models and corresponding energy services.

Global EV industry supply chain
Founded in 2021, U POWER has established offices in both Silicon Valley and Shanghai, bringing together top talent from traditional OEMs, EV start-ups, and internet tech companies. The company is dedicated to integrating competitive global electric vehicle supply chains to empower the global automotive manufacturing sector.

To leverage the global EV industry supply chain, U POWER has built a strategic partnership not only with Bosch, the world's largest Tier-1 auto supplier, but also with numerous other highly competitive players in the electric vehicle industry. Additionally, the company has teamed up with AI chipmakers, including NVIDIA, Renesas, and Horizon Robotics.

Since 2021, U POWER has received investments from top dollar funds including Matrix Partners, CCV, ZhenFund and the leading auto industry funds Bosch's BOYUAN Capital.