Silicon Valley & New York — July 23, 2025 — IoTeX, the open ecosystem for physical intelligence and a pioneer in Decentralized Physical Infrastructure Networks (DePIN), today announced a strategic partnership with U Power Limited (NASDAQ: UCAR), a leading electric vehicle (EV) infrastructure provider. The collaboration will enable full on-chain tokenization and lifecycle management of UCAR’s EV charging and battery swap stations, marking a major milestone in scaling real-world asset (RWA) adoption through DePIN.
The partnership highlights IoTeX’s growing role as foundational infrastructure for tokenized machine networks and real-world intelligence. By integrating UCAR’s national infrastructure footprint into the IoTeX ecosystem, the collaboration unlocks new forms of liquidity, asset transparency, and programmable capital flows, positioning DePIN and RWA as twin engines of the next wave of crypto adoption.
From EV Networks to On-Chain Economies
As regulatory clarity around stablecoins and RWAs expands, infrastructure-backed tokens are emerging as one of the most tangible and capital-efficient applications of blockchain. IoTeX provides the stack to power this shift, from on-chain machine registration and decentralized identity to Quicksilver, its real-time AI framework for verified physical data.
This partnership with UCAR demonstrates how enterprises can transform physical infrastructure into liquid, programmable digital assets on a fully open network.
“Our collaboration with UCAR highlights the growing role DePIN will play in transforming real-world infrastructure into on-chain economies,” said Dr. Raullen Chai, Co-Founder and CEO of IoTeX. “We’re excited to help bring UCAR’s EV charging and energy assets onto the IoTeX network and show how blockchain and capital markets can work together to build smarter, more efficient infrastructure ecosystems.”
Strategic Integration and Long-Term Vision
As a next step, UCAR and IoTeX are actively exploring broader strategic cooperation, including incorporating $IOTX into UCAR’s long-term asset reserve system in a strategy similar to Sharplink and Ethereum, as well as co-developing tokenization strategies across EV charging, battery swap, and mobility infrastructure.
“Partnering with IoTeX will help us digitize and tokenize our infrastructure assets at scale—improving operational efficiency, capital access, and transparency,” said Vicente López-Ibor Mayor, Board member of UCAR and former Commissioner of the National Energy Commission. “It’s a critical move toward increasing the value and flexibility of UCAR’s new energy infrastructure.”
This partnership represents a powerful convergence of blockchain innovation and industrial-scale deployment. By aligning DePIN-native protocols with real-world business applications, IoTeX is demonstrating how open infrastructure can power the next generation of decentralized economies—where machines, data, and capital coordinate in real time.
The collaboration is supported by HabitTrade, a global multi-asset trading and infrastructure platform, which serves as the structuring and execution agent for this token-equity integration.
For more information, visit iotex.io or contact press@iotex.io.
About IoTeX
IoTeX is an open ecosystem for shared physical intelligence. It provides core infrastructure — blockchain, identity, and real-time interaction layers — for developers building autonomous agents, decentralized machines, and AI-powered physical systems. Learn more at iotex.io.
About U Power Limited
U Power is a comprehensive provider of electric vehicle (EV) battery swapping solutions using its proprietary modular battery-swapping technology, UOTTA™. U Power manufactures and sells different models of UOTTA battery-swapping stations for EVs, and sells and rents battery swap cabinets to two-wheeled vehicle drivers. U Power also provides battery-swapping services for vehicle drivers and station control system upgrading services for battery-swapping station owners.
Through investments in next-generation technologies, U Power is on track of becoming a comprehensive solutions provider for smart energy grids. Expanding on its UOTTA technology platform, the Company is investing in building intelligent ecosystems that integrate resilient AI driven solutions able to transform electric vehicles (EVs) into dynamic energy assets.
For more information, please visit the Company’s website: https://www.upower-limited.com/.
