(BUSINESS WIRE) UQM Technologies, Inc. has signed a memorandum of understanding with a major Chinese company for the development and marketing of UQM electric propulsion systems for New Energy Vehicles in China. , and represents an initial step to penetrate the Chinese market. UQM provides its customers with both custom electric propulsion solutions and automotive-qualified volume production capabilities.
Under the agreement, UQM and its China-based partner will work collaboratively to introduce UQM products into the Chinese market for use in New Energy Vehicles. The China State Council published its New Energy Vehicles plan in July, 2012, setting a goal of 500,000 energy-efficient and clean vehicles on the road in China by 2015, and five million vehicles by 2020.
UQM powers test-fleet vehicles by Audi in Germany, Rolls-Royce and the London Taxi Company in the U.K., and previously, Saab vehicles in Sweden. UQM is also powering Hino electric city buses in Japan and demonstration vehicles for 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.