UQM Technologies Receives $9.25 Million Production Order From Phoenix Motorcars

January 17, 2007 by Jeff Shepard

UQM Technologies, Inc. announced today that it has received a $9.25 million production order from Phoenix Motorcars, Inc. for UQM® electric propulsion systems to power Phoenix’s newly introduced all electric powered Sport Utility Truck (SUT). The order also includes an onboard UQM® dc-dc converter to power the vehicle instrumentation. Deliveries under the order are tentatively scheduled over the next year. This order raises the company’s current product production backlog to approximately $14 million.

The Phoenix all electric SUT is powered by a 100kW UQM electric propulsion system which produces over 400 ft-lbs of torque, accelerates the vehicle from 0 to 60 miles per hour in less than 10 seconds, has a top speed of 100 miles per hour and operates at peak system efficiencies of over 94%. The vehicle’s 35kWh NanoSafe™ battery pack supplied by Altair Nanotechnologies, Inc. can be recharged in less than 10 minutes using Altair’s proprietary technology and provides safe power and energy for the vehicle. In a typical fleet duty cycle the vehicle will travel up to 135 miles between charges. The vehicle is expected to qualify as a Type III ZEV in California.

"The performance characteristics of the UQM propulsion system, including its industry leading torque delivery and energy efficiency, adds substantially to the value proposition of our SUT," said Daniel J. Elliott, President and Chief Executive Officer of Phoenix Motorcars. "The performance capability of the propulsion system is a significant factor in the driving experience and vehicle utility for our customers and we are pleased to be partnered with a leader in electric propulsion technology and related vehicle electronic products."

"We are pleased that Phoenix has selected our company as their strategic partner to supply propulsion systems for their electric SUT production program," said William G. Rankin, UQM Technologies President and Chief Executive Officer. "This order represents a major milestone in the commercialization of our technology in the on-highway electric vehicle market and we are looking forward to supporting and participating in Phoenix’s growth and success."