U Power Limited (Nasdaq: UCAR) is bringing Web3 and AI to electric vehicle (EV) infrastructure. The company today announced the completion of its Real-World Assets (RWAs) issuance through a strategic partnership with blockchain innovator IoTeX, marking a key milestone in the digitalization and tokenization of EV battery swapping assets across China and Southeast Asia.
Tokenizing the EV battery business
The RWAs issued are backed by U Power’s proprietary UOTTATM battery swapping business, allowing the assets to be traded on HabitTrade, a global multi-asset trading platform. The initiative represents a first in the EV sector: corporate assets brought on-chain to improve market liquidity and unlock new investment avenues.
CEO Johnny Lee explained the strategy: “Our partnership with IoTeX enables the tokenization of EV batteries, unlocking new revenue streams through Battery Tokens and crowdfunded infrastructure financing. By accelerating deployment of battery swapping stations and enhancing data-driven operations via blockchain and AI, we reduce costs, improve asset utilization, and create scalable, recurring income models.”
Web3 infrastructure and growth opportunities
In addition to issuing RWAs, U Power has completed the development of its foundational Web3.0 infrastructure, paving the way for innovative financial instruments tied to its battery swapping and battery bank operations. The integration of blockchain, AI, and tokenized assets is designed to attract a broader investor base, strengthen asset-backed revenue models, and accelerate expansion of U Power’s market share in EV battery swapping technology.
The initiative builds on a July 2025 Memorandum of Understanding and Business Cooperation Agreement between U Power and IoTeX, formalizing their exploration of asset tokenization and joint development of next-generation EV infrastructure.
Future of electrification meets digital finance
U Power positions this move as part of a larger Web3.0 strategy to digitize and monetize EV and battery assets, bridging the gap between electrification and digital finance. By leveraging AI, blockchain, and tokenized RWAs, the company aims to create a scalable, sustainable ecosystem for battery swapping and related infrastructure.
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