UQM Technologies just announced that they have a one-year agreement with Electric Vehicles International LLC (EVI) to supply EVI with supply upgraded UQM(R) PowerPhase(R) 150kW electric propulsion systems. EVI plans to use the propulsion systems in their new all-electric medium-duty trucks and walk-in vans. The systems will be delivered between June and October of 2010.
What’s the Biden Bounce you ask? Biden as in Joe Biden. Yeah, that Biden who they let out of the basement of the White House once in awhile to let us all know he’s still alive and acting as VP. He’s got a big task ahead of him tomorrow. He’ll be speaking at the new UQM Technologies (UQM) manufacturing facility and highlight the positive impact of the American Reinvestment & Recovery Act on small businesses … Read the rest
UQM Technologies (UQM) has received an order from Quantum Fuel Tech (QTWW) for its high efficiency electric drive system to power a postal service electric vehicle which is currently in development. A successful demonstration following a one year development program could lead to widespread adoption by the postal service for its fleet of 178K .. not to mention a great revenue source for both UQM and Quantum.
“We are pleased to be selected by Quantum … Read the rest
UQM Technologies (UQM) is getting a boost from the government this morning with a $45 million cost share grant for the advancement of electric cars, lithium batteries and all the equipment needed to produce and deploy. The company will be eligible to recover half of any costs, but may be required to pay back loans used for assets greater than $5K. The company will also need to provide detailed reports about where the money is … Read the rest
UQM Technologies just announced that it has been awarded $45.1 million as a grant from the Department of Energy. The grant, awarded via the American Recovery and Reinvestment Act, is for the development and deployment of electric vehicles and includes a 50% cost-share by the company, so the total project is valued at $90.2 million. … Read the rest
BorgWarner and UQM just announced that they will combine their powers to develop electric powertrain products for HEVs and EVs. They intend to start out their partnership by working on a mashup of UQM Technologies’ PowerPhase® electric propulsion system and BorgWarner’s 31-03 eGearDrive™ transmission for the Coda electric car. The Coda is expected to be out in California next year.
This combo should provide the Coda with 2,000 Nm (1,500 ft-lbs) of torque with a … Read the rest
The government has dished out the funds for advanced battery research and development and the winners are….
Johnson Controls (JCI) – $300 million A123 Systems – $249 million General Motors (GM) – $240 million EnerDel (HEV) – $118.5 million Ford (F) – 92.7 million Chrysler – $70 million UQM Technologies (UQM) – $45 million Exide (XIDE) – $34 million
With a development stage company like UQM Technologies (UQM), it’s never about quarterly earnings, it’s ALWAYS about the news. We certainly saw that a couple days ago as the stock rocketed higher on the Coda Motors news. Earnings aren’t all that important at this stage, but I’ll report them anyway. The company posted a narrower loss this quarter of .02/share vs the .04/loss posted a year ago.
“During the first quarter we continued to experience … Read the rest
UQM Technologies just announced that they have signed a 10-year agreement to provide UQM® PowerPhase®100 electric propulsion systems to Coda Automotive. Under the agreement, Coda will purchase 20,000 propulsion systems in the first two years, to be used in the company’s upcoming 4-door, 5-passenger, all-electric sedan. The sedan will be released in California in the middle of next year. It has a 5 star crash rating and can travel 90 to 120 miles on a … Read the rest
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