UQM Technologies Powered SWIGZ.COM Pro Racing Electric Motorcycle Makes History During Pikes Peak International Hill Climb

The SWIGZ.COM Pro Racing team did much more than kick up dirt at the 89^th Pikes Peak International Hill Climb (www.ppihc.com) with its all-electric motorcycle powered by a UQM Technologies, Inc. (NYSE Amex: UQM) high-performance electric propulsion system. The team shocked the Pikes Peak organizers, competitors and motorsports community with a 2^nd place class finish while also setting a new electric motorcycle record time of 12:50.094. The previous Pikes Peak electric motorcycle record of 16:55.849 was set in 2010.

"Once again, we congratulate Chip Yates and the SWIGZ.COM Pro Racing team for exceptional performance with their all-electric superbike,” said Eric Ridenour, President and Chief Executive Officer of UQM Technologies. "In this high-elevation venue, Chip’s UQM-powered superbike demonstrated two key advantages of an all-electric powertrain: instant torque for great corner exits and the ability to produce the same power at the 14,110-foot summit as it does at sea level.”

Chip Yates is both the rider and the designer of the SWIGZ.COM Pro Racing motorcycle. At 240 horsepower, the SWIGZ electric motorcycle is the most powerful motorcycle ever entered in the Pikes Peak International Hill Climb.

"This was one of the most exciting and extreme races I’ve competed in,” said Yates. "The course is 12.42 miles long, has 2.6 miles of dirt, and is littered with 156 difficult and sometimes highly dangerous turns. The ability to come out of corners with 400 ft-lbs of torque on tap made a significant difference in our performance.”

The real story to come out of the weekend is the potential the electric superbike showed for a top finish next year, when the course should be fully paved. This year Chip says that he tip-toed a nearly 600-pound road-racing superbike through 2.6 miles of dirt road, where he lost significant time to the race leaders. In the first section of the course, which is paved asphalt, Chip was 9^th out of 112 motorcycles and demonstrated knee-dragging superbike racing techniques to more than 5,000 fans that lined the mountain road.

"The split times from the race show the incredible potential of our electric superbike when the entire course is paved in time for the 2012 Pikes Peak International Hill Climb race,” said Yates. "Once again, we have put the gas-powered bikes on notice that we can be a serious threat to the overall results of a premier race event. Next year, with the pavement on my side, I’ll be looking for a top 10 or better result in the overall standings.”

Yates and the SWIGZ.COM Pro Racing team have earned considerable performance achievements with the UQM-powered all-electric superbike. Highlights include:

• Pikes Peak Electric Motorcycle Overall Record (beating the previous record by 4:05.755)
• Placing 2^nd in class in the Pikes Peak International Hill Climb
• Being the most powerful motorcycle to ever enter the Pikes Peak race
• Two podium finishes in the first Gas vs. Electric superbike race in January 2011
• Setting a world record for the world’s fastest electric motorcycle (190.6 mph) during the Mojave Mile Shootout
• Finishing third place after starting the race on the third row at the Auto Club Speedway in California in the premier WERA Heavyweight Twins Superbike category
• Then finishing second in the WERA Heavyweight Twins Superstock division of the race
• Posting the fastest lap of the race at 1:39.792
• Achieving a top speed of 158 mph during the race, despite having only six laps of pre-race testing

About Chip Yates

Chip Yates is a professional motorcycle road racer, team owner, and extreme electric vehicle designer. Since January 2010, Yates has led the all-American team of Ben Ingram, Robert Ussery and Jimmy Summers to create, build, and race the a powerful and sophisticated electric superbike. Yates holds a Master’s Degree in Business from the University of Southern California. For more information and to request photography for publication, please visit www.chipyates.com.

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.

Please visit www.uqm.com for more information.

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, our ability to successfully expand our manufacturing facilities, 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-K filed June 2, 2011, which is available through our website at www.uqm.com or at www.sec.gov .