UQM Technologies (UQM) In Supply Agreement With Coda Automotive

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 charge, making it an excellent choice for an electric commuter vehicle.

In a press release, executives from both companies commented on the agreement:

“We are pleased to have Coda Automotive as a production customer and are looking forward to a rapid expansion of our manufacturing capacity to meet the volume requirements for this exciting vehicle launch,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. “The completion of a long-term supply agreement is an important milestone in the commercialization of our proprietary technology, and will allow future owners of an all-electric Coda sedan to experience the exhilarating performance of electric propulsion while lowering their operating and ownership costs.”
“We are excited to add UQM Technologies to our team of world-class suppliers who are committed to supporting our objective of making practical, all-electric vehicles accessible to American drivers who need reliable, cost-efficient transportation and are concerned with the pollution caused by current gas-powered options,” said Kevin Czinger, President and Chief Executive Officer, Coda Automotive. “The UQM® PowerPhase®100 electric propulsion system delivers spectacular torque and energy efficiency that will enable the Coda sedan to deliver an exceptional driving experience and reliable operating range.”


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