‘Initial Orders for 20 Systems Have Already Been Placed’
Colorado’s UQM Technologies today reported a new three-year electric propulsion system supply agreement for EcoRide BE35 all-electric buses by Proterra. The deal includes UQM’s PowerPhase HD 220 drive. “Initial orders for 20 systems have already been placed,” UQM says.
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California Grants a Three-Year Break on Daytime Electricity
As Battery Busmaker Trumpets $23 Million Investment Round
The California Public Utilities Commission has granted a three-year reprieve on the daytime electricity rates paid by transit agencies with battery electric vehicles, following petitions by Proterra and Southern California Edison. The ruling means that Southern California’s Foothill Transit will pay about 15¢ per kilowatt-hour instead of 40¢ to charge its Proterra buses, and an onerous monthly demand charge will be eliminated.
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Texas, Florida, South Carolina and More for California
EcoRide BE35 battery electric buses by Proterra are spreading from an initial trial with Foothill Transit in Southern California to fleets in Texas, Florida, South Carolina and California’s Central Valley.
Colorado’s UQM Technologies (AMEX:UQM) is seeing its revenues surge, although expenses for “expanded production engineering activities” are keeping the company in the red. But the firm’s latest financials reflect “a pretty good quarter and a good year overall,” UQM president and CEO Eric Ridenour told analysts.
Deliveries for Coda Automotive’s battery electric sedan accounted for much of the UQM sales surge, to $3.8 million in the fiscal fourth quarter ended March 31, a gain of 61% from $2.3 million in the fourth fiscal quarter of 2011.
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