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Nasdaq-Listed UCAR and IoTeX Unite to Revolutionize EV Infrastructure with Tokenization

U Power Limited, listed on Nasdaq as UCAR, has announced a partnership with IoTeX, a decentralized infrastructure firm, to tokenize its electric vehicle (EV) battery swapping and charging stations.

This innovative approach to battery swapping allows EVs to replace depleted batteries in mere minutes, resembling the speed of traditional refueling methods.

U Power operates these facilities under the "UOTTA" brand, providing essential energy solutions across China since its founding in 2013.

By leveraging IoTeX’s technology, UCAR aims to enhance funding opportunities and improve the lifecycle management of its EV assets.

Vicente López-Ibor Mayor, a board member at U Power, emphasized that this collaboration could significantly boost operational efficiency and transparency.

Additionally, U Power is considering the establishment of a crypto treasury reserve utilizing IoTeX’s token, IOTX.

At the time of the announcement, IOTX was priced at $0.02401, experiencing a slight decline over 24 hours but showing a weekly increase.

Meanwhile, UCAR’s stock is trading at $3.00, reflecting a substantial drop of about 23% over the past week.

This partnership highlights a growing trend in the integration of blockchain technology within the electric vehicle sector.

As firms like UCAR embrace tokenization, the future of EV infrastructure could see significant digital advancements and increased investment dynamics.