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  • UQM Technologies, Inc. (UQM) Receives Fleet Build Order from International Automobile Company 0 comments
    Jul 13, 2010 1:45 PM | about stocks: UQM
    UQM Technologies Inc. is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets. A major emphasis of the company is developing products for the alternative energy technologies sector. This includes propulsion systems for electric, hybrid electric, and fuel cell electric vehicles.

    The company recently announced that it has received an initial order for over fifty PowerPhase electric propulsion systems as part of the fleet build and vehicle development activities of an established international automobile manufacturer. Deliveries under the order are scheduled to occur in the fourth calendar quarter of 2010 and the first calendar quarter of 2011. Automobile companies typically build test fleets to evaluate new vehicles that are under development prior to their market launch.

    UQM Technologies was under evaluation by this new customer for over six months. The company satisfied the customer’s demanding requirements for system performance, safety, quality, availability and price. Introduction of this vehicle is targeted for 2012 and UQM Technologies has quoted delivery and price to the customer for over 25,000 systems.

    The president and CEO of UQM Technologies, William G. Rankin, said, “We consider our selection by this international automobile manufacturer to be a significant development and further confirmation of our position as a leading supplier of electric propulsion systems to this emerging market”.

    The company’s electric propulsion system, along with expansion of its manufacturing capacity to allow for the production of commercial volume of this system at a competitive cost, is creating additional opportunities for UQM Technologies with automobile manufacturers worldwide. This latest automobile company customer is the ninth in a growing list of established carmakers with vehicles under evaluation powered by the company’s electric propulsion and/or generator systems. For more information on the company, please visit its website at uqm.com.

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    Stocks: UQM
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