LONGMONT, Colo.--(BUSINESS WIRE)--
UQM Technologies Inc. (NYSE AMERICAN: UQM) today announced the receipt of a new order from Proterra for UQM’s PowerPhase® HD electric drive systems, to be manufactured and shipped in 2018. Proterra continues to build upon its leading-edge bus technology, utilizing the UQM electric powertrain system for orders in 2018. An increase in demand for Proterra vehicles signals the clear economic viability of the all-electric transit bus and is a sign of the rapidly expanding market for electric buses in North America.
“UQM E-drive systems have millions of miles on the road with Proterra, and over the years our companies have worked closely together to create some of the most advanced heavy-duty electric bus technology available in the marketplace. We are pleased to continue to support Proterra’s success with the UQM E-drive for its heavy-duty transit bus applications,” said Joe Mitchell, President and CEO of UQM Technologies Inc.
UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors for the commercial truck, bus, automotive, marine and industrial markets. A major emphasis for UQM is developing propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles. UQM is TS 16949 and ISO 14001 certified and located in Longmont, Colorado. For more information, please visit www.uqm.com.
Proterra is a leader in the design and manufacture of zero-emission heavy-duty vehicles, enabling bus fleet operators to significantly reduce operating costs while delivering clean, quiet transportation to local communities across North America. With more than 500 vehicles sold to 65 different municipal, university, airport, federal and commercial transit agencies in 30 states, Proterra is committed to providing state of the art, high performance vehicles to meet today’s growing market demand. The company’s configurable Catalyst® platform is capable of serving the full daily mileage needs of nearly every transit route on a single charge. With unmatched durability and energy efficiency based on rigorous U.S. certification testing, Proterra products are proudly designed, engineered and manufactured in America, with offices in Silicon Valley, South Carolina, and Los Angeles. For more information, visit: http://www.proterra.com and follow on Twitter @Proterra_Inc.
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 management with respect to, among other things, gaining required certifications, new product developments, future orders to be received from our customers, sales of products from inventory, future financial results, liquidity, 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 and Form 10-Qs, which are available through our website at www.uqm.com or at www.sec.gov.
Source: UQM Technologies, Inc.