Coda All-Electric Sedan Selected as a Finalist by Green Car Journal for Its 2010 Green Car Vision Award™
FREDERICK, Colo.–(BUSINESS WIRE)– UQM TECHNOLOGIES, INC. (NYSE Amex:UQM), a developer of alternative energy technologies, announced today that the all-electric CODA four-passenger sedan powered by a UQM® PowerPhase® propulsion system has been selected as a finalist by Green Car Journal for its prestigious 2010 Green Car Vision Award™. The winner of the award will be announced at the Washington Auto Show on January 26, 2010.
“In the early years of commercialization, that requires innovative thinking and often some risk taking to achieve the goal, whether it’s high efficiency, petroleum displacement, emissions reduction, or a combination of the three, the finalists for our 2010 Green Car Vision Award™ epitomize the can-do spirit that will bring a new and more environmentally positive generation of vehicles to our highways,” said Ron Cogan, Editor and Publisher of the Green Car Journal and Editor of GreenCar.com.
In July, the company completed a ten year agreement with CODA Automotive to supply PowerPhase® electric propulsion systems for the CODA all-electric sedan. The CODA sedan is anticipated to carry a 4-5-star crash worthiness rating. Powered by a 33.8 kWh lithium-ion battery with a real-world range of 90 to 120 miles depending on individual driving habits, the CODA sedan travels far enough between charges to satisfy 94% of daily driving routines. The onboard charger plugs into a 110V or a 220V outlet and can charge for a 40-mile commute in approximately two hours (full charge in less than six hours at 220V). CODA Automotive plans to introduce the vehicle in the California market in 2010.
UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets. A major emphasis of the Company is developing products for the alternative energy technologies sector including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, under-the-hood power accessories and other vehicle auxiliaries and distributed power generation applications. The Company’s headquarters, engineering and product development center, and motor manufacturing operation are located in Frederick, Colorado. For more information on the Company, please visit its worldwide website at www.uqm.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 officers and directors with respect to, among other things, orders to be received under our supply agreement with Coda, our ability to comply with the necessary conditions to access the Department of Energy award, our ability to successfully expand our manufacturing facilities 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 November 5, 2009, which is available through our website at www.uqm.com or at www.sec.gov.