LONGMONT, Colo.--(BUSINESS WIRE)--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.