Shanghai Youpao Network Technology

Shanghai Youpao Network Technology, operating as U POWER, is a smart electric vehicle (EV) technology firm established in early 2021 with dual headquarters in Shanghai and Silicon Valley. The company was founded by CEO Paul Li (Peng Li), who previously headed the high-end EV brand Saloon for Great Wall Motor. His experience in the automotive industry informs U POWER’s strategy to address the high costs and long development cycles of vehicle manufacturing.

U POWER’s business model is centered on providing a foundational skateboard chassis, the UP Super Board, to automakers. This B2B approach enables clients, such as emerging EV companies and businesses in specialized sectors, to build white-labeled electric vehicles. By offering a standardized, modular platform, U POWER aims to reduce clients' vehicle development time by at least six months and lower capital investment, thereby accelerating their time-to-market. The company generates revenue by selling these chassis platforms and complete vehicle solutions to its automotive partners.

The core product, the UP Super Board, is a plug-and-play rolling chassis that integrates essential EV components like electric propulsion, steering, suspension, thermal management, and Level 2+ advanced driver-assistance systems (ADAS). This technology allows automakers to focus their resources on designing and developing the custom upper body (from sedans to vans) and user-facing features. The company’s first complete vehicle built on this platform is the UP VAN, an all-electric vehicle designed for urban logistics. The UP VAN features a high payload capacity, a low floor for easier loading, and smart cabin features, with deliveries scheduled to begin in the second half of 2024. The company has reported over 53,000 orders for the UP VAN from markets in North America, Japan, Europe, and China.

U POWER made its debut at CES 2024, where it announced the first deliveries of the UP Super Board to the U.S.-based EV company Olympian Motors. The firm has also secured partnerships with Detroit's Lumos EV to develop a commercial van for the Mexican market, Japan's G Three Holdings, and companies in the Philippines and Europe, reflecting its “GLOCAL” strategy of integrating a global supply chain to empower local vehicle development.

Keywords: skateboard chassis, electric vehicle platform, EV technology, rolling chassis, urban logistics, UP Super Board, Paul Li, Peng Li, white-label EVs, commercial electric vehicles, UP VAN, EV manufacturing, automotive supply chain, smart EV, modular EV, vehicle-by-wire, last-mile delivery, EV components, ADAS integration, Olympian Motors, Lumos EV