UQM Technologies, Inc. (NYSE Amex: UQM) has begun volume
production of its PowerPhase Pro® electric motors and controllers. The
Company’s high-volume production line has a capacity of 40,000 units on
two shifts.
"The launch of volume production of our electric motors and controllers
marks a new milestone in the history of UQM Technologies and is a
significant step in the broad commercialization of our electric
propulsion systems,” said Eric Ridenour, UQM Technologies’ President and
Chief Executive Officer. "Moving into the high-volume production phase
for our state-of-the-art high efficiency electric propulsion systems is
a boost to our company in many ways, including generating a substantial
increase in our revenue and by validating that our company can deliver
volume product with the performance and durability that automakers
expect.”
The Company will host a conference call today at 4:30 p.m. Eastern Time
to discuss operating results for the quarter and six months ended
September 30, 2011. To attend the conference call, please dial
1-800-762-8908 approximately ten minutes before the conference is
scheduled to begin and provide the passcode "4483010” to access the
call. International callers should dial 1-480-629-9868. For anyone who
is unable to participate in the conference, a recording will be
available for 48 hours beginning at 6:30 p.m. Eastern Time today. To
access the playback call 1-800-406-7325 and enter replay code
"4483010#”. International callers should dial +1 303-590-3030.
About UQM Technologies, Inc.
UQM Technologies 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 for UQM is developing products for the
alternative-energy technologies sector, including propulsion systems for
electric, hybrid electric, plug-in hybrid electric and fuel cell
electric vehicles, under-the-hood power accessories and other vehicle
auxiliaries. UQM headquarters, engineering, product development center
and manufacturing operation are located in Longmont, Colorado.
For more information, please visit www.uqm.com.
This Release contains statements that constitute "forward-looking
statements” within the meaning of Section 27A of the Securities Act and
Section 21E of the Securities Exchange Act. These statements appear in a
number of places in this Release and include statements regarding our
plans, beliefs or current expectations, including those plans, beliefs
and expectations of our officers and directors with respect to, among
other things, orders to be received under our supply agreement with CODA
Automotive, future financial results, and the continued growth of the
electric-powered vehicle industry. Important Risk Factors that could
cause actual results to differ from those contained in the
forward-looking statements are contained in our Form 10-Q to be filed
today, which is available through our website at www.uqm.com
or at www.sec.gov.
