Colorado Company Sees Huge Potential with Eastlake New Energy
UQM Technologies says it’s fulfilled its initial order for PowerPhase Pro 135 electric drives to China, where it is supplying Eastlake New Energy, which owns several Chinese OEMs including Yangste Bus, via Eastlake’s ITL Efficiency Corp subsidiary.
UQM is starting with electric drive components for six- to eight-meter (20- to 26-foot) buses, and says it will graduate to larger delivery truck and transit bus applications with its PowerPhase HD 250 drive next year.
UQM says it expects to manufacture its electric propulsion systems for ITL in Colorado through 2017, and then shift production to China.
‘An Important First Step’
The “game-changer” deal, said to be worth $400 million, was announced this past autumn (F&F, October 27).
“This initial shipment is an important first step in executing the terms of the supply agreement we signed with ITL last October,” UQM president and CEO Joe Mitchell said in a release.
“We expect that the integration and test and certification programs for ITL will be completed in 2016, and I am pleased that everything so far appears to be on schedule,” he said.
According to a UQM fact sheet, “ITL’s primary objective is to search for and connect foreign suppliers with Eastlake… to gain an advantage over the other OEMs using Chinese components.
“ITL is able to work independently of Eastlake’s own manufacturing to gain advanced components and technology.”
In addition to 69-year-old Yangste Bus, also known as Dongfeng Yangtse, Eastlake owns Shandong Province-based Yixing, which claims to have close to 500 electric buses in service in China and Hong Kong, and Wuhan-based Speka, state-owned until Eastlake acquired it in 2013. Speka offers bulk powder tank trucks, bulk cement trucks, trailers, dump trucks, flatbed vans, cement mixers, sanitation trucks, tankers, oilfield specialty vehicles, UQM says.
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Source: UQM Technologies with Fleets & Fuels follow-up