UCAR, based in China, has joined with Iotex to enhance its EV station network through tokenization. The aim is to improve funding and lifecycle management for U Power’s operations, which include battery swapping stations for electric vehicles.
As news of the collaboration broke, UCAR’s stock dropped 23%, trading at 3.00 USD. IOTX tokens, used for the treasury reserve, were valued at 0.02401 USD, experiencing a slight decrease of 4.56% in 24 hours but had increased by 3.43% for the week.
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