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Korea Breakthrough for Colorado’s UQM?

February 6, 2015 in Companies, Electric Drive, EVs by Rich Piellisch  |  No Comments

One-Ton Battery Trucks in Korea to Use PowerPhase Pro 100 Units
As UQM Gets China Certification and Cites ‘Sluggish Domestic Market’

Colorado’s UQM Technologies is to provide its PowerPhase Pro 100 electric motor/controller systems for one-ton truck conversions in Korea, the company says, noting that its customer Power Plaza “is working directly with the Seoul city government on this project, with initial conversions being placed in several local postal fleets for testing and evaluation.

Note UQM logo on Power Plaza battery truck.

Note UQM logo on Power Plaza battery truck.

“There are over 2.5 million one-ton trucks in South Korea, primarily used for short haul delivery, making a strong case for electric conversions,” UQM says.

Power Plaza will launch the pilot program for the high-performance version of its upfit using UQM PowerPhase electric motors and controllers “after initial homologation,” UQM says.

One Fleet Has 18,000 Candidate Trucks

“UQM is the correct partner for us, and with their many years of experience, their support and expertise will help make this program a success,” Power Plaza CEO Sung Ho Kim says in a UQM release.

“This relationship further enhances our position as a global leader in electric propulsion,” said UQM president and CEO Eric Ridenour.

“One of the key partners in the program is the South Korean conglomerate CJ which has a total fleet of 18,000 one-ton vehicles used for short-haul delivery, and is evaluating electrifying a portion of their fleet,” UQM adds.

UQM says it will co-exhibit with Power Plaza at the EVS-28 world electric vehicle show in Seoul in May.

Approved for use in China

Approved for use in China

‘Ongoing Progress Outside of the U.S.’

UQM also said this week that it has received certification of its heavy duty PowerPhase HD 250 system optimized for transit bus and commercial vehicle applications in China following three months of testing by the China Automotive Technology & Research Center in Tianjin.

UQM took a bath revenue-wise during its fourth fiscal quarter ended December 31, with sales dropping to $836,000 compared to $2.0 million for the same quarter last year. Net loss for the third quarter was $1.4 million, compared to a net loss of $66,000 for the same period last year (which included a one-time benefit of $727,000).

”While our results this quarter reflect the sluggish domestic market and the timing of orders from our customers, we are very pleased with our ongoing progress outside of the U.S.,” Ridenour said in the firm’s earning release Thursday.

“Our newly-announced China certification and strategic customer agreements in Asia reflect our significant efforts to secure high volume contracts and penetrate that large and growing market opportunity,” he said.

UQM welcomes business from Asia.

UQM welcomes business from Asia.

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Source: UQM Technologies with Fleets & Fuels follow-up

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