UQM Technologies Announces that Green4U Technologies Inc. has Selected UQM as its Strategic eDrive Supplier for Multiple Elec...
June 07 2018 - 7:30AM
Business Wire
- After an exhaustive global search,
Green4U has chosen UQM as their propulsion supplier of choice for
various electric vehicle platforms.
- Green4U seeks to offer fleet operators
a diverse lineup of electric vehicles – sedans, SUVs, cargo and
passenger vans, light buses, large buses and trucks – to meet a
variety of functional fleet requirements.
- Green4U has ordered a number of UQM’s
PP135 systems paired with a UQM sourced single speed transmission
for initial trials and is anticipating going to production in
2019.
- Green4U Chairman and Founder Don Panoz
is a successful entrepreneur in multiple industries, including
pharmaceutical, automotive and motorsports, and is expanding into
the electric vehicle market.
UQM Technologies, Inc. (NYSE American: UQM) announced
today that Green4U Technologies Inc., located in Braselton, Ga.,
has chosen UQM to be its supplier of choice for eDrives for an
array of electric vehicles designed for fleet operators. Green4U’s
founder Don Panoz is a successful entrepreneur in numerous
industries including pharmaceutical, automotive and motorsports,
and is looking to expand into the electric vehicle market. Green4U
plans to market a range of U.S. manufactured EVs primarily for
business use but also suitable for consumers. The UQM platform will
enable Green4U to expand its EV product line to SUVs and
medium-to-large commercial vehicles like buses and work trucks.
According to UQM CEO Joseph Mitchell, “This collaboration
between UQM and Green4U and selection of UQM to be Green4U’s eDrive
supplier of choice is another example of our superior performance
and value being recognized in the industry. We are thrilled to
partner with Green4U and Don Panoz to support their growth and
entry into this market.”
Don Panoz, founder of Green4U, sees this as an ideal strategic
partnership. “Since weight greatly affects EV range, at Green4U we
are experts at making things light and strong,” Panoz said. “We’ve
been using aluminum chassis designs, aluminum body panels, and
carbon fiber composite structures in our Panoz sports and race cars
for years, and we’re applying this expertise, plus other
technologies we’re developing and sourcing, to our Green4U EVs. UQM
has been a player in the global EV space for decades, and is the
market leading technology provider of electric propulsion systems.
We are very pleased to have UQM as our electric drive
supplier.”
About UQM
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 Green4U Technologies
Green4U is working to meet the growing demand for electric
vehicles from taxi fleets, municipalities, military organizations,
logistics companies and consumers. Green4U’s founders conducted
extensive market analysis and industry due diligence and confirmed
that a significant market opportunity exists for a new business
model that provides clean, reliable and lower cost EV alternatives
to organizations that place a high priority on sustainability and
are attracted to an EV fleet’s substantially lower operating costs.
For more information, please visit www.green4u.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 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-Qs, which are available through our website at www.uqm.com or at
www.sec.gov.
Source: UQM Technologies, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20180607005226/en/
BPC Financial MarketingGeoff Quinn, 800-544-3092orUQM
Technologies, Inc.David Rosenthal, 303-682-4900
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