UQM Technologies Receives New Order to Supply Lightning Systems in Key Fleet EV Programs
Aug. 30, 2018
LONGMONT, Colo.--(BUSINESS WIRE)--Aug 30, 2018--UQM Technologies, Inc. (NYSE American: UQM) announced today it has received an order from Lightning Systems for UQM’s eDT 220 electric propulsion systems for use in several new projects, including Class 6 vehicles for Zeem Solutions, located in New York, and a city bus program for Via Mobility, located in Boulder, Colorado. Shipments are currently expected to commence in 2018 and continue into 2019. UQM supplies various powertrain components to Lightning Systems, including the UQM E-Drive paired with different gearbox solutions, making UQM the Tier 1 provider for the full assembly. The UQM electric drive system brings industry-leading electric vehicle (EV) performance and efficiency to an array of Lightning Systems vehicles.
“We are very pleased to see the progress and success we are enjoying with Lightning Systems in winning new business with their expanded vehicle offerings utilizing the UQM propulsion systems,” said Joseph Mitchell, CEO of UQM Technologies. “What makes this even more exciting is the Colorado connection between UQM and Lightning, and our joint expansion in the new energy market.”
"Having UQM in very close proximity to us in Northern Colorado and such a close working relationship between our companies has given both UQM and Lightning Systems a speed to market and innovative integration advantage,” said Tim Reeser, CEO of Lightning Systems. “We have UQM electric drive configurations deployed now in Class 3 to Class 8 vehicles and continue to be impressed with the quality of the UQM products and team, and look forward to potentially bringing more applications and vehicles to market in the near future utilizing the UQM propulsion systems."
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 IATF 16949 and ISO 14001 certified and located in Longmont, Colorado. For more information, please visit www.uqm.com.
About Lightning Systems
Lightning Systems, a leader in zero-emission powertrains for fleets around the world, is a fast-growing company headquartered in Loveland, Colorado. The company offers products to support commercial and government fleets, including the Lightning Electric, a zero-emissions full-electric fleet vehicle drivetrain, with a hydrogen fuel-cell option; Lightning Analytics, a cloud-based analytics system for fleet vehicles; and Lightning Hybrid, a hydraulic hybrid energy recovery system for heavy-duty vehicles. To learn more, visit www.lightningsystems.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 management with respect to, among other things, gaining required certifications, new product developments, the fulfillment of current and anticipated 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-Q’s, which are available through our website at or at .
Source: UQM Technologies, Inc.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180830005206/en/
CONTACT: BPC Financial Marketing
Geoff Quinn, 800-544-3092
UQM Technologies, Inc.
David Rosenthal, 303-682-4900
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY TECHNOLOGY HARDWARE OTHER TECHNOLOGY TRANSPORT TRUCKING OTHER TRANSPORT PUBLIC TRANSPORT MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: UQM Technologies, Inc.
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PUB: 08/30/2018 08:30 AM/DISC: 08/30/2018 08:30 AM