Connect with us

Technology

U Power Limited (Nasdaq: UCAR) Announces Landmark Joint Venture with SUSCO, Targeting Thailand’s Multi-Billion EV Infrastructure Boom

Published

on

Strategic Partnership to Address Rapid EV Growth Driven by Government Policy Changes in Thailand

SHANGHAI, March 24, 2025 /PRNewswire/ — U Power Limited (Nasdaq: UCAR), a world leader in rapid battery swapping technology for EV’s, (“U Power” or the “Company”) announced today that it has signed a joint venture agreement between its Thai subsidiary, U SWAP, and SUSCO Public Company Limited (BK: SUSCO), a publicly listed energy provider with a robust network of fueling stations throughout Thailand. The joint venture will deploy U Power’s innovative UOTTA battery-swapping technology across SUSCO’s extensive station network, significantly advancing sustainable transportation solutions in the country. The JV positions U Power as a first-mover in Thailand Commercial EV Battery Swapping Market.

“This joint venture represents a significant milestone in U Power’s global expansion strategy, particularly in Southeast Asia,” said Li Jia, Chairman and CEO of U Power. “Thailand’s ambitious EV targets make our partnership with SUSCO timely and strategically important, creating immediate opportunities for scaling our battery-swapping technology across the region.”

Expanding EV Infrastructure with UOTTA Technology

SUSCO is a publicly traded energy provider listed in Thailand, recognized for its widespread network of fueling stations. By partnering with U Power, SUSCO aims to integrate battery-swapping capabilities into its existing infrastructure to meet the growing demand for electric vehicle (EV) energy solutions.

Through the joint venture, U Power’s UOTTA battery-swapping system will be strategically positioned at SUSCO’s fueling stations nationwide. This infrastructure will serve as a rapid, efficient, and scalable energy solution tailored to the needs of commercial vehicle fleets, including taxis and ride-sharing services, significantly reducing downtime and improving operational efficiency.

Integrating U Power’s innovative battery-swapping technology into SUSCO’s extensive station network allows SUSCO to directly support Thailand’s ambitious EV adoption goals, enhance customer convenience, and position SUSCO at the forefront of the nation’s evolving transportation infrastructure.

Leading Asian Investors Back Joint Venture with Strategic Investment

Chatchaval Jiaravanon, a member of the family controlling the Charoen Pokphand Group (CP Group)—a diversified conglomerate generating over $82 billion in annual revenue—has personally invested in the joint venture between U Swap and SUSCO.

Mr. Jiaravanon currently serves as chairman and founder of Charoen Energy and Water Asia and independently owns Fortune magazine.

As highlighted in a recent press release, Mr. Jiaravanon expressed optimism regarding the significant potential for growth and profitability of this partnership within Thailand’s rapidly expanding electric transportation sector. Leveraging his extensive financial and business relationships across the region, Mr. Jiaravanon is expected to create meaningful opportunities for U Swap’s accelerated growth.

Strategic Growth Aligned with Thailand’s Green Energy Goals

This partnership directly aligns with Thailand’s “30@30” policy, which mandates that 30% of new vehicle sales be electric by 2030. To accelerate this transition, Thailand’s National New Generation Vehicle Committee has prioritized infrastructure development through investment incentives, targeting the nationwide deployment of 12,000 charging piles and 1,450 battery-swapping stations by the policy deadline. Positioned at the intersection of government strategy and market demand, the joint venture is uniquely equipped to capitalize on these tailwinds and establish a dominant footprint in Thailand’s rapidly evolving EV ecosystem.

The agreement builds on U Power’s previous strategic collaboration with CP-MG, reinforcing the company’s systematic approach to market expansion and highlighting the trust major Thai corporations have in U Power’s battery-swapping technology.

Addressing Market Demand and Business Potential

Given Thailand’s significant taxi and ride-hailing fleet, currently exceeding 300,000 vehicles, battery swapping provides an attractive alternative to lengthy charging times. By deploying this technology within SUSCO’s extensive network, the partnership will directly address the practical challenges faced by high-utilization vehicles, boosting profitability and accelerating EV adoption.

“Thailand is entering a transformative period in electric mobility, and our partnership with SUSCO positions U Power at the forefront of this exciting transition,” said Li Jia. “Together, we aim not only to enhance Thailand’s green transportation infrastructure but also to establish a profitable and scalable model for other markets in Southeast Asia and beyond.”

About SUSCO

SUSCO Public Company Limited, a leading oil and gas retail company in Thailand, has been a key player in the energy sector since its establishment in 1981. Listed on the Stock Exchange of Thailand, SUSCO operates an extensive network of service stations across Bangkok and its surrounding areas, offering a wide range of products and services, including fuel retailing, aviation fuel supply, and CNG/LPG refueling.

SUSCO is renowned for its strong market presence and operational expertise, particularly in serving major international airports in Bangkok, including Suvarnabhumi and Don Mueang. In recent years, the company has actively pursued innovation and sustainability, exploring opportunities in electric vehicle charging, hydrogen fuel, and biofuel technologies to align with global energy transition trends. The partnership with U Power aligns perfectly with SUSCO’s commitment to leading Thailand’s transition toward sustainable energy solutions.

Through strategic partnerships, such as its collaboration with Sinopec (Hong Kong) Limited, SUSCO has expanded its footprint in Thailand’s retail fuel market and introduced new business models. With a proven track record of excellence and a forward-looking approach, SUSCO continues to solidify its position as a trusted energy solutions provider in Thailand and beyond.

About U Power Limited

U Power Limited (Nasdaq: UCAR) is a vehicle sourcing services provider with a vision to become an EV market player primarily focused on its proprietary battery-swapping technology, UOTTA technology. UOTTA is an intelligent modular battery-swapping solution designed to provide comprehensive battery power solutions for EVs. Since its inception in 2013, U Power has established a vehicle sourcing network in China’s lower-tier cities, developed multi-types of battery-swapping stations for compatible EVs, and operates a manufacturing facility in Zibo City, Shandong Province, China.

For more information, please visit: https://www.upower-limited.com/

Forward-Looking Statements

This 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 events or circumstances, or changes in its expectations, except as may be required by law.

Although the company believes the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Investors are encouraged to review other factors that may affect future results in the company’s registration statement and other filings with the U.S. Securities and Exchange Commission (SEC).

For more information, please visit: https://www.upower-limited.com/

Contact:
Circadian Group IR
Xing.wang@upower-limited.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/u-power-limited-nasdaq-ucar-announces-landmark-joint-venture-with-susco-targeting-thailands-multi-billion-ev-infrastructure-boom-302409101.html

SOURCE U Power Limited

Continue Reading

Technology

COLUMBIA DISTRIBUTING COMPLETES ALASKA TRANSACTION WITH RNDC, ESTABLISHING A FOUR-STATE PACIFIC NORTHWEST TOTAL BEVERAGE PLATFORM

Published

on

By

WILSONVILLE, Ore., Oct. 26, 2026 /PRNewswire/ — Columbia Distributing today announced it has completed its transaction with Republic National Distributing Company (RNDC) to acquire certain beverage distribution assets in Alaska, marking Columbia’s official entry into the state and completing the final component of the letter of intent announced by the companies in April.

The closing represents a major milestone in a long-term strategy Columbia set out to build: a multi-category, multi-state total beverage platform across the Pacific Northwest. With direct operations now spanning Alaska, Oregon, and Washington, along with its recently completed strategic partnership with Hayden Beverage in Idaho, Columbia has brought that vision to life, creating a connected four-state route to market and a more complete one-stop solution for supplier and retail partners across the region.

“This is a huge moment for Columbia because it represents exactly what we set out to build,” said Chris Steffanci, President and CEO of Columbia Distributing. “Our long-term vision has been to create the strongest total beverage platform in the Pacific Northwest—a multi-category, multi-state strategy that gives our partners a more complete solution across the region. With Alaska, that vision is now coming to life. We can offer suppliers and retailers a connected, capable, and increasingly seamless route to market across Alaska, Idaho, Oregon, and Washington.”

The Alaska transaction expands Columbia’s direct service territory to more than 835,000 square miles and adds nearly 1,500 customer accounts. It also brings Columbia into a market with an experienced local team, strong customer relationships, and an established beverage distribution network.

Columbia sees significant untapped potential in the Alaska business and plans to bring renewed investment, leadership, resources, and market focus to the state. The company will pair the Alaska team’s local knowledge and relationships with the culture and ways of working that drive Columbia’s performance in its existing markets, empowering people, moving with urgency, holding one another accountable, and maintaining a relentless focus on customers, brands, and execution.

“What has impressed me most is the energy and ambition of the Alaska team,” Steffanci said. “They know the market, they believe in the brands, and they are hungry to grow, compete, and win. They do not need us to teach them Alaska. Our responsibility is to give them the leadership, investment, tools, and support to show what they can do.”

“At Columbia, we trust our people, empower the teams closest to the market, and expect everyone to take ownership of results,” Steffanci continued. “That culture and the way we work across our company will bring new energy and momentum to Alaska. We are not entering the market to maintain the status quo—we are here to build, grow, compete, and raise the standard. This team is ready to be unleashed, and I believe the market is going to feel the difference very quickly.”

The expansion is the latest step in the deliberate strategy Columbia has pursued to build a broader total beverage business across multiple categories and markets. On June 30, the company completed its acquisition of certain RNDC wine and spirits distribution rights in Oregon and Washington. In September, Columbia completed a strategic partnership with Hayden Beverage, creating long-term alignment with Idaho’s leading locally based beverage distributor. The Alaska transaction completes the geographic footprint Columbia envisioned across the four-state Pacific Northwest market.

Together, these transactions create a platform designed around what suppliers and retailers increasingly need: one partner capable of representing multiple beverage categories across multiple states while still maintaining the local knowledge, relationships, and market-level execution required to succeed in each community.

Columbia’s expanded platform spans beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories. For supplier partners, it provides greater regional scale, category expertise, operational capabilities, and a more cohesive route to market. For retailers, it provides access to a broader portfolio backed by strong sales, delivery, merchandising, revenue management, and account execution capabilities.

“This is what total beverage means to us,” Steffanci added. “It is not simply adding categories or adding geography. It is about building a one-stop solution that connects categories, capabilities, people, and markets in a way that creates more value for our partners. We now have the platform we envisioned across the Pacific Northwest, and our focus turns to executing against that opportunity.”

Columbia is working closely with the Alaska team, suppliers, customers, and business partners to support a smooth transition. Columbia will communicate additional information about the operational transition, portfolio, and go-live timing directly to affected stakeholders.

Columbia appreciates RNDC’s partnership and the work of teams across both organizations to complete the transaction. Financial terms were not disclosed.

About Columbia Distributing

Since 1935, Columbia Distributing has helped build some of the best-known brands in the beverage business. Today, Columbia is one of the nation’s leading total beverage distributors, with a portfolio spanning beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories.

Columbia’s more than 3,200 teammates serve approximately 24,000 retail customers and deliver more than 80 million cases annually. With direct operations across Alaska, Oregon, and Washington and a strategic partnership with Hayden Beverage in Idaho, Columbia offers supplier and retail partners a connected four-state, multi-category route to market across the Pacific Northwest.

Columbia’s success is built on its people, its brands, and a deep-rooted commitment to execution, service, and creating sustainable growth for its teammates, customers, suppliers, shareholders, and communities. For more information, visit www.coldist.com.

Contact: Steve Gibbs
Steve.Gibbs@coldist.com | 206-920-6799

View original content to download multimedia:https://www.prnewswire.com/news-releases/columbia-distributing-completes-alaska-transaction-with-rndc-establishing-a-four-state-pacific-northwest-total-beverage-platform-302919977.html

SOURCE Columbia Distributing

Continue Reading

Technology

Secretary of the State Thomas Highlights Record Protecting Connecticut Businesses as Scams Grow More Sophisticated

Published

on

By

As early voting enters its final week, Secretary of the State Stephanie Thomas highlights her first-term record protecting Connecticut businesses, from fighting human trafficking and business hijacking to lowering fees and moving filings online, and pledges to keep business owners prepared as AI makes scams more sophisticated.

HARTFORD, Conn., Oct. 26, 2026 /PRNewswire-PRWeb/ — As scams targeting Connecticut businesses grow more sophisticated, including recent emails impersonating state offices, Secretary of the State Stephanie Thomas is highlighting the protections her team has put in place for the more than half a million businesses registered in Connecticut. She is seeking a second term to build on that work as AI-powered fraud creates new risks for business owners.

“If someone tries to steal your business, you’re not on your own. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for.”

“Before I was Secretary of the State, I ran a small business, so I know how scarce time and money can be,” said Secretary Thomas. “That’s why our team cut fees and red tape, and why I fought for new laws that let my office investigate when fraudsters hijack a Connecticut business. If someone tries to steal your business, you’re not on your own. But the threats keep evolving. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for. I’m not done delivering for Connecticut businesses, and I hope you’ll support me on November 3.”

Protecting Connecticut Businesses

Fighting human trafficking. Through Be a Light, Secretary Thomas made Connecticut the 7th state in the country and the first in the Northeast to help businesses identify, report and prevent human trafficking. Trafficking can reach any business through its customers, employees or supply chains. PreventHumanTraffickingCT.com gives owners practical guidance on what to watch for and what to do.

Stopping business hijacking. Fraudsters have stolen login credentials, changed a business’s listed owner and opened lines of credit in its name. Owners used to have only one remedy: hire a lawyer and go to court. Secretary Thomas brought the problem to the legislature. New laws now give her office the authority to investigate and the funding to build stronger protections, including screening that flags suspicious filings for human review.

Early warnings for owners. Business owners can turn on Follow Business alerts at Business.CT.gov to be notified whenever someone files a document for their business.

Lower costs, less red tape. Apostille fees are lower, and the entire process for authenticating documents for use abroad, used for about 40,000 documents a year, is now online. That makes Connecticut one of the first states to offer it. A new statewide trademark directory lets owners check a name before investing in it.

Help getting started and growing. A free monthly business newsletter gathers grants, funding and training opportunities in one place. A new Business Welcome Packet walks owners through their first steps, from tax IDs to fraud protection.

Early Voting Ends Sunday, Nov. 1

Early voting is open daily from 10 a.m. to 6 p.m. through Sunday, Nov. 1, with extended hours from 8 a.m. to 8 p.m. on Tuesday, Oct. 27 and Thursday, Oct. 29. There is no early voting on Monday, Nov. 2.

Every town has at least one early voting location. Voters can find theirs at MyVote.CT.gov or by contacting their town’s registrar of voters. Eligible residents who are not yet registered can register and vote the same day during early voting or on Election Day, Tuesday, Nov. 3, when polls are open from 6 a.m. to 8 p.m.

About Stephanie Thomas

Stephanie Thomas is Connecticut’s 75th Secretary of the State and the first Black person elected to the office. Since taking office in 2023, she has secured $20 million to modernize Connecticut’s election equipment, led the rollout of early in-person voting, expanded civic education through initiatives such as the Power of Civics platform and launched Be a Light, making Connecticut the first state in the Northeast to help businesses identify, report and prevent human trafficking.

Thomas is running for reelection in 2026. She serves on the Executive Board of the National Association of Secretaries of State and testified before Congress in 2025 about balancing voter access with election security.

Before becoming secretary, Thomas represented Norwalk, Wilton and Westport in the state legislature. She also ran a small business and spent nearly 30 years advising nonprofit organizations on strategy and fundraising.

Media Contact

Natasha Lopoukhine, Savvy Marketing Communications, 1 2039560920, natasha@igotsavvy.com, www.igotsavvy.com

View original content to download multimedia:https://www.prweb.com/releases/secretary-of-the-state-thomas-highlights-record-protecting-connecticut-businesses-as-scams-grow-more-sophisticated-302919955.html

SOURCE Stephanie Thomas

Continue Reading

Technology

MNA: Berkshire VNA Nurses and Healthcare Professionals Deliver Petition Calling for a Fair Union Contract to Strengthen Patient Access to Home Care

Published

on

By

While there has been bargaining progress on early-career wages, clinicians are urging BVNA to invest in experienced staff to support safe patient care

PITTSFIELD, Mass., Oct. 26, 2026 /PRNewswire/ — Berkshire Visiting Nurse Association (BVNA) nurses and healthcare professionals, represented by the Massachusetts Nurses Association (MNA), delivered a petition to BVNA management at 4 p.m. Monday, October 26, calling for a fair contract that supports recruitment, retains experienced clinicians and protects the time needed to care for patients safely at home. The parties next meet for bargaining on October 28.

The petition comes as the bargaining unit has shrunk by approximately half over the past several years amid high turnover and challenges attracting new staff. BVNA clinicians are seeking to reverse that decline to strengthen access to home care, help patients recover in familiar surroundings, and support timely hospital discharges.

“We appreciate that management has made progress toward attracting new staff by moving on wages for nurses and healthcare professionals early in their careers,” said Tamaryn Clowdus, physical therapist, and Co-Chair of the MNA Bargaining Committee at Berkshire VNA. “We also need reasonable cost-of-living increases for the experienced clinicians who have stayed with the VNA through difficult years. Building a stable workforce and supporting our home care patients requires a focus on both recruitment and retention.”

BVNA nurses and healthcare professionals provide care that helps patients manage illness, recover after hospitalization and remain safely at home. Experienced clinicians bring clinical judgment, knowledge of their communities and familiarity with patients’ needs. These are important community assets that are difficult to replace when staff leave.

With Berkshire Medical Center experiencing high patient volume, sufficient levels of home care staffing matters more than just the patients receiving visits. Ready access to home care can help patients who are ready to leave the hospital return home with the support they need, making more hospital beds available for people requiring acute care.

“Berkshire Medical Center nurses stand with our BVNA colleagues in their efforts to secure a fair contract that strengthens home care in Berkshire County,” said Sarah Roberts, RN, MNA Co-Chair at Berkshire Medical Center. “We see every day how much our patients depend on having care available when they return home. Supporting the clinicians who provide that care helps patients leave the hospital safely and keeps beds available for others who need acute care.”

The BVNA petition also calls for reasonable and achievable productivity expectations developed with clinicians and grounded in the realities of home care. A visit involves more than time spent in a patient’s home. Clinicians must also document care, coordinate services, communicate with providers and families, and travel between patients.

MassNurses.org │ Facebook.com/MassNurses │ Twitter.com/MassNurses │ Instagram.com/MassNurses 

Founded in 1903, the Massachusetts Nurses Association is the largest union of registered nurses in the Commonwealth of Massachusetts. Its 26,000 members advance the nursing profession by fostering high standards of nursing practice, promoting the economic and general welfare of nurses in the workplace, projecting a positive and realistic view of nursing, and by lobbying the Legislature and regulatory agencies on health care issues affecting nurses and the public.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mna-berkshire-vna-nurses-and-healthcare-professionals-deliver-petition-calling-for-a-fair-union-contract-to-strengthen-patient-access-to-home-care-302919989.html

SOURCE Massachusetts Nurses Association

Continue Reading

Trending