UQM Technologies forms strategic alliance in China to supply new energy vehicles
2 October 2012
UQM Technologies, Inc. has signed a memorandum of understanding with a major Chinese company for the development and marketing of UQM electric propulsion systems for New Energy Vehicles (NEV) in China.
This agreement expands the reach of UQM to four continents, and represents the initial step in its strategy to penetrate the China market.
Under the agreement, UQM and its China-based partner will work collaboratively to introduce UQM products into China for use in New Energy Vehicles. The China State Council published its New Energy Vehicles plan in July 2012, setting a goal of 500,000 energy-efficient and clean vehicles on the road in China by 2015, and five million vehicles by 2020.
UQM powers test-fleet vehicles by Audi in Germany, Rolls-Royce and the London Taxi Company in the UK, and previously, Saab vehicles in Sweden. UQM is also powering Hino electric city buses in Japan and demonstration vehicles for EV Engineering in Australia. In the US, UQM can be found in the CODA all-electric passenger sedan, now available in California, Proterra all-electric composite transit buses, Boulder EV all-electric delivery vans, and Electric Vehicles International all-electric medium-duty trucks and delivery vans.
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