UQM Technologies Announces Collaboration with Lightning Systems for the Advanced Fuel Qualified Vehicle Modifier (eQVM) Progr...
October 19 2017 - 8:30AM
Business Wire
- UQM has been chosen by Lightning
Systems as its strategic EV propulsion system supplier for their EV
platforms.
- UQM will supply powertrain components
consisting of a gearbox, an electric motor and the inverter as well
as software controls for the EV performance and efficiency.
- This collaboration will provide UQM
both development funding and the opportunity to supply components
to Lightning Systems to support their vehicles as part of the
Advanced Fuel Qualified Vehicle Modifier (eQVM) program by Ford
Motor Company.
UQM Technologies, Inc. (NYSE American: UQM) announced
today that it will collaborate with Lightning Systems to support
the Ford Transit concept vehicles for Lightning Systems’ beta
programs for the Advanced Fuel Qualified Vehicle Modifier (eQVM)
program by Ford Motor Company. The Ford eQVM program provides
recognition to aftermarket equipment installers that meet
manufacturing guidelines and best practices for alternative fuels
and advanced technologies (such as electric vehicles and hydraulic
hybrids). Lightning Systems, located in Loveland, Colorado, is
already in production with hydraulic hybrid applications, and is in
the process of expanding its customer offerings to electric
vehicles. This early production program supports the initial
vehicles that are expected to be delivered to customers during the
first quarter of 2018.
It is a major accomplishment for both respective companies
located in Colorado to be in a position to support green technology
initiatives for an approved OEM under the Advanced Fuel Qualified
Vehicle Modifier Program.
“We are excited about this opportunity to foster this
relationship with Lightning Systems. The synergies that exist
between our companies are ideal for the EV market with respect to
clean technology, geographic location, and learned experience,”
said Joe Mitchell, President and CEO of UQM. “This relationship
allows Lightning Systems the opportunity to support its current and
future growth customers with quality engineered products and
excellent customer service solutions.”
“We are pleased to have UQM as one of our key partners
supporting our EV products and strategy,” said Tim Reeser,
President and CEO of Lightning Systems. “This relationship will
allow us to provide leading edge technology that will exceed our
customers’ expectations for high quality and cost-effective zero
emissions vehicles.”
About UQM
UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators, power electronic
controllers and fuel cell compressors for the commercial truck,
bus, automotive, marine and industrial markets. A major emphasis
for UQM is developing propulsion systems for electric, hybrid
electric, plug-in hybrid electric and fuel cell electric vehicles.
UQM is TS 16949 and ISO 14001 certified and located in Longmont,
Colorado. For more information, please visit www.uqm.com.
About Lightning Systems
Lightning Systems, based in Loveland, Colo., is a leader in
efficiency and emissions improvement solutions for fleets around
the world. The company’s products include: LightningElectric, a
zero-emissions full-electric fleet vehicle; LightningAnalytics, a
cloud-based analytics system for fleet vehicles; LightningHybrid, a
hydraulic hybrid energy recovery system for medium- and heavy-duty
vehicles; and a variety of other fleet fuel efficiency and
emissions improvement products to be introduced in 2018 and 2019.
To learn more, visit www.lightningsystems.com.
This Release contains statements that constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act.
These statements appear in a number of places in this Release and
include statements regarding our plans, beliefs or current
expectations; including those plans, beliefs and expectations of
our management with respect to, among other things, gaining
required certifications, new product developments, future orders to
be received from our customers, sales of products from inventory,
future financial results, liquidity, and the continued growth of
the electric-powered vehicle industry. Important Risk Factors that
could cause actual results to differ from those contained in the
forward-looking statements are contained in our Form 10-K and Form
10-Q's, which are available through our website at www.uqm.com or
at www.sec.gov.
Source: UQM Technologies, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20171019005404/en/
EnergyTech Investors, LLCShawn Severson,
415-233-7094orUQM Technologies, Inc.David Rosenthal,
303-682-4900
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