By Denver Business Journal

Colorado electric-motor maker UQM Technologies Inc. said Monday it has received an initial order for about 50 of its electric propulsion systems from an unidentified "international automobile manufacturer" for use in a test fleet of vehicles.

The order of UQM's PowerPhase systems is part of the automaker's vehicle-development activities, Frederick-based UQM (NYSE Amex: UQM) said. It said the buyer is building a test fleet for evaluation and that introduction of the vehicle is targeted for 2012.

Deliveries under the initial order are scheduled for late 2010 and early 2011, and UQM said it has "quoted delivery and price for over 25,000 systems" if the vehicle goes into full production.

UQM did not disclose the value of the order.

"We consider our selection by this international automobile manufacturer to be a significant development and further confirmation of our position as a leading supplier of electric propulsion systems to this emerging market," William Rankin, UQM's president and CEO, said in a statement.

UQM manufactures electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets.

The company last year was awarded a $45 million stimulus grant from the U.S. Department of Energy to support electric-car development.

Vice President Joe Biden visited UQM's Longmont plant on April 30 as part of a tour touting the benefits of the federal stimulus program.

Click here for an October 2009 DBJ profile of UQM.

Copyright 2010 American City Business Journals
Copyright 2010