UQM Technologies Announces Collaboration with Lightning Systems for the Advanced Fuel Qualified Vehicle Modifier (eQVM) Program by Ford Motor Company
- 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.
LONGMONT, COLORADO, OCTOBER 19, 2017 – UQM Technologies, Inc. (NYSE MKT: 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.”
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 cloudbased 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.
For more information contact:
EnergyTech Investors, LLC
UQM Technologies, Inc.
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.