U Power Ltd (NASDAQ:UCAR) shares are moving sharply higher Tuesday morning after the company said it completed production of the first 30 battery-swapping electric heavy-duty trucks bound for Thailand, with pilot shipments expected in late May 2026. Here’s what investors need to know.

U Power Begins Thailand Expansion With 1,000-Truck Plan

The deployment marks the first phase of a broader plan to roll out as many as 1,000 battery-swapping heavy trucks in Thailand over the next three years through U Power's partnership with Whale Logistics.

According to the company, the initial batch has already completed operational testing and full-stack battery-swapping system integration, which U Power said validated the trucks' performance, safety and compatibility with its intelligent battery-swapping ecosystem.

The vehicles were manufactured by SAIC Hongyan under the UNEX EV brand and incorporate U Power's proprietary battery-swapping and energy management technologies.

Thailand Pilot Supports Commercial EV Truck Expansion

U Power said the Thailand pilot is intended to support commercialization of battery-swapping heavy trucks while also serving as a model for broader expansion across Southeast Asia and other international markets.

The company believes battery swapping can help address one of the biggest obstacles to electric truck adoption by cutting charging downtime, improving fleet utilization, lowering operating costs and reducing emissions.

CEO Johnny Lee said the milestone represents a critical step in U Power's strategy to electrify commercial transportation using its battery-swapping ecosystem. The company added that data gathered from the Thailand pilot will help refine its technology and guide future heavy-duty EV deployments.

UCAR Stock RSI Rebounds From Oversold Levels Tuesday

UCAR's RSI has mostly traded in the neutral range over the past year, with occasional spikes into overbought territory near 70 and dips toward oversold levels around 30.

Recently, the RSI fell into oversold territory before rebounding sharply Tuesday, suggesting short-term selling pressure followed by a potential stabilization.

UCAR Stock Skyrockets Tuesday Morning

UCAR Price Action: U Power shares were up 85.62% at 82 cents at the time of publication on Tuesday, according to Benzinga Pro data.

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