Monday, July 27, 2009

UQM Signs Electrical Vehicle Manufacturer

Frederick, Colorado-based UQM Technologies, a developer of electric motors, generators and power electronic controllers for the automotive, aerospace, and other industries, announced today that the firm has signed an agreement with electrical vehicle manufacturer Coda Automotive. According to UQM, it will supply its UQM PowerPhase 100 electric propulsion systems to Coda Automotive for a period of 10 years. UQM said that Coda will buy 20,000 propulsion systems from the firm over the initial two-year period following the launch of volume production by the automotive firm. Financial impact of the new contract was not disclosed.