Efficient Drivetrains, Inc. (EDI) has selected the UQM Technologies, Inc. (NYSE MKT: UQM) PowerPhase ® system as the electric drive in its newly-developed Parallel-Series-Electric powertrain system. Development and initial testing of the platform has been completed, and EDI is currently in contract discussions with multiple truck manufacturers and a bus manufacturer to use the system.
“This platform demonstrates the viability of our PowerPhase systems in hybrid applications as well as in all-electric vehicles,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “The EDI powertrain is a unique approach to electrifying vehicles, and our range of electric motors and controllers adds to the scalability of the system.”
The EDI Parallel-Series-Electric system was designed to fit in the space required by a traditional internal combustion engine and transmission, both in front-wheel-drive and rear-wheel-drive applications. This makes it easier to adapt the new Parallel-Series-Electric powertrain to existing vehicles.
“For manufacturers and customers alike, this is one of the most adaptable automatic vehicle drivetrains in the world,” said Joerg Ferchau, Co-founder and CEO of EDI. “The UQM PowerPhase system has performed well in our testing, as has the rest of the powertrain, providing efficiency and capability as it switches from pure EV mode to parallel hybrid to series hybrid according to driving conditions.”UQM powers test-fleet vehicles by Audi in Germany, Rolls-Royce and the London Taxi Company in the U.K. UQM is also powering Hino electric city buses in Japan and Holden demonstration vehicles by EV Engineering in Australia. In the U.S., 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. About EDI Efficient Drivetrains, Inc. develops and markets a range of state-of-the-art proprietary drivetrain products and technologies that have direct application in PHEVs, HEVs and BEVs worldwide. The leading edge EDI hybrid electric drivetrain systems and technologies provide significant cost and efficiency advantages for parallel and series hybrid drivetrain architectures across nearly all platform classes and configurations. In addition, EDI has developed technology for new types of continuously variable transmissions. EDI is currently active in automotive projects throughout North America and the Asia Pacific regions. More information about EDI is available at www.efficientdrivetrains.com. About UQM UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus and military 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 located in Longmont, Colorado. Please visit www.uqm.com for more information. 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 officers and directors with respect to, among other things, future orders to be received, future financial results 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-Q filed October 25, 2012, which is available through our website at www.uqm.com or at www.sec.gov .
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV