UQM UQM Technologies Inc

UQM Technologies Propulsion Systems to Power Hybrid Electric Ultralight Stainless Steel Urban Bus Under Development by the U.S. Department of Energy and Autokinetics Inc. FREDERICK, Colo., April 13 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. , a developer of alternative energy technologies, announced today that its permanent magnet propulsion motors will power a hybrid electric ultralight stainless steel 40 foot urban bus being developed by Autokinetics Inc., Rochester Hills, Michigan, with funding from the U.S. Department of Energy. The hybrid electric ultralight stainless steel urban bus features a low floor monocoque type structure, four wheel independent suspension that operates with no interior intrusion for axle clearance and a front frame crush zone to improve occupant safety in the event of a collision. The bus has an estimated curb weight of only 9,600 pounds, which represents a mass reduction of 64 percent compared to conventional buses thereby improving passenger carrying payload and fuel economy. "We are pleased to add Autokinetics Inc., a leader in the design and development of advanced vehicle structures, to the expanding list of customers who have selected UQM(R) propulsion systems for their advanced vehicle development activities. Our propulsion system will contribute to the achievement of the fuel economy goals of this advanced technology transit bus program", said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, telecommunications, medical, military and industrial markets. A majoremphasis of the Company is developing products for the alternative energy technologies sector including power systems for electric, hybrid electric and fuel cell electric vehicles, 42-volt 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 worldwidewebsite at http://www.uqm.com/. This press 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 press 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. 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 for the quarter ended December 31, 2003 and is available through our website atuqm.com or at sec.gov. DATASOURCE: UQM Technologies, Inc. CONTACT: Donald A. French, Treasurer of UQM Technologies, Inc., +1-303-278-2002 Web site: http://www.uqm.com/

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