Recently, U Power completed the B-round financing of hundreds of millions of RMB. This round of financing was led by Hefei Industrial Investment Holdings, followed by Dongchuang Investment, Huoyan Capital, Matrix Partners, CCV, and ZhenFund. Previously, ZhenFund participated in its Pre-A round of financing.

Founded in 2021, U Power is a new type of smart electric vehicle company that manufactures vehicles for scenarios, and is a leader in the skateboard chassis track. By providing the extremely standardized UP super chassis, U Power can effectively shorten the research and development of the whole vehicle by 6-12 months, and help all scene owners realize the freedom of car manufacturing.

This round of financing will be mainly used to promote the technological innovation of U Power UP super chassis, as well as the R&D and mass production of electric commercial vehicles and electric off-road vehicles based on this.