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UQM Technologies 2.62 Million First Quarter Orders For Electric & Hybrid Vehicle Propulsion Systems
UQM Technologies announced today that it received 2.62 million in orders (double the amount over the same period last year) for its propulsion motors, generators and power electronic controllers to drive both electric and hybrid electric vehicles.
“We continue to see growing interest in our technology and products in a variety of applications and markets driven by high fuel prices and the resulting demand by consumers for fuel-efficient vehicles,” said William G. Rankin, UQM Technologies’ President and Chief Executive Officer. “The increase in orders for this portion of our business during the first quarter exceeded our expectations and is expected to continue. These orders consist of increased system purchases by existing customers as well as from a growing number of new customers selecting our products for their electric and hybrid electric vehicle programs.”
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Jul.10
[...] * UQM Technologies (UQM) up 15.23% on news it doubled orders in the first quarter [...]