Firm Says It’s Turning the Table on Manufacturing Trends
Colorado’s UQM Technologies reports an MoU with a major Chinese company for the development and marketing of UQM electric propulsion systems for new energy vehicles in China.
“This agreement expands the global reach of UQM to four continents, and represents the initial step in our strategy to penetrate the Chinese market with our leading electric propulsion products,” UQM says.
UQM says it will work collaboratively with its new partner to introduce UQM products into the Chinese market. The China State Council published its New Energy Vehicles plan in July, UQM says, setting a goal of 500,000 energy-efficient and clean vehicles on the road in China by 2015, and five million vehicles by 2020.
Germany, the UK, Sweden and Australia
“This agreement is an important step in our strategic plan to enter the Chinese market,” UQM president and CEO Eric Ridenour said in a release. “With annual revenue of over $5 billion, our Chinese partner has a substantial footprint throughout China and is well-positioned to introduce our products.”
Elsewhere, UQM powers test-fleet vehicles by Audi in Germany, Rolls-Royce and the London Taxi Company in the U.K., and previously, Saab vehicles in Sweden. UQM is also powering Hino electric city buses in Japan and demonstration vehicles for EV Engineering in Australia. In the U.S., UQM can be found in the Coda all-electric passenger sedan, now available in California, Proterra all-electric composite transit buses, Boulder EV all-electric delivery vans, and Electric Vehicles International’s all-electric medium-duty trucks and delivery vans.
Adrian Schaffer is sales and business development VP at UQM.
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