UQM Technologies Receives Production Order for Auxiliary Motor to Be Used on Golf Carts Manufactured by Club Car
January 07 2008 - 8:30AM
Business Wire
UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative
energy technologies, announced today that it has received a
production order from a supplier to Club Car, Inc., a wholly-owned
subsidiary of Ingersoll-Rand Company Limited, for an auxiliary
motor that will be used on Club Car golf carts beginning later this
year. The UQM� auxiliary motor actuates an automatic service brake
feature on Club Car golf carts in certain international markets.
Club Car's golf, utility and transportation vehicles are recognized
as industry leaders in efficiency and long-lasting value offering
over 40 base models with applications in golf course, grounds
maintenance, industrial, academic and commercial markets. �We are
pleased that Club Car has selected our auxiliary motor for its
parking brake system. This system will be assembled on our
semi-automated high volume production line,� said William G.
Rankin, UQM Technologies� President and Chief Executive Officer.
�We expect this program to grow in volume as Club Car expands the
market share for its industry leading products in international
markets.� UQM Technologies, Inc. is a developer and manufacturer of
power dense, high efficiency electric motors, generators and power
electronic controllers for the automotive, aerospace, medical,
military and industrial markets. A major emphasis of the Company is
developing products for the alternative energy technologies sector
including propulsion systems for electric, hybrid electric, plug-in
hybrid electric and fuel cell electric vehicles, under-the-hood
power accessories and other vehicle auxiliaries and distributed
power generation applications. The Company's headquarters,
engineering and product development center, and motor manufacturing
operation are located in Frederick, Colorado. For more information
on the Company, please visit its worldwide website at www.uqm.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 officers and directors
with respect to, among other things the development of markets for
our products and the adequacy of our cash balances and liquidity to
meet future operating needs. Important Risk Factors that could
cause actual results to differ from those contained in the
forward-looking statements are contained in our Form 10-Q filed
October 31, 2007, which is available through our website at
www.uqm.com or at www.sec.gov.
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