International Automobile Company Awards UQM Technologies with Fleet Build Order
FREDERICK, CO - UQM Technologies Inc., a developer of alternative energy technologies, 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.
"We have been in discussion with and under evaluation by this new customer for over six months and have satisfied their demanding requirements for system performance, safety, quality, availability and price. Introduction of this vehicle is targeted for 2012 and we have quoted delivery and price for over 25,000 systems," said William G. Rankin, president and chief executive officer of UQM Technologies.
"The automotive qualification of our PowerPhase electric propulsion system together with expansion of our manufacturing capacity to allow for the production of commercial volumes of this system at a competitive cost is creating additional opportunities with automobile manufacturers worldwide. This automobile company represents the ninth in a growing list of established carmakers with vehicles under evaluation powered by our electric propulsion and/or generator systems," added Rankin.