U Power shares surge 62.73% intraday after completing production of 30 battery-swapping electric heavy trucks for Thailand, accelerating commercialization with Whale Logistics.

U Power (UCAR) surged 62.73% intraday following the announcement that it completed production of 30 battery-swapping electric heavy-duty trucks for Thailand, with pilot shipments scheduled for late May 2026. The milestone, achieved after successful operational testing and system integration, marks a key step in the company’s commercialization strategy for battery-swapping technology in logistics. The news aligns with U Power’s collaboration with Whale Logistics to deploy up to 1,000 such trucks in Thailand over three years, positioning the firm to expand its electrified fleet infrastructure. The production completion validates the scalability of its AI-integrated battery-swapping ecosystem and addresses critical adoption barriers like charging downtime, enhancing the appeal of its technology to logistics operators. The bullish reaction reflects investor confidence in the company’s progress toward global commercialization and its strategic partnerships to drive regional market penetration.