UQM Technologies (UQM) Receives Fleet Build Order from International Automobile Company

FREDERICK, Colo.–(BUSINESS WIRE)–UQM Technologies, Inc. (NYSE Amex:UQM), a developer of alternative energy technologies, announced today that it has received an initial order for over fifty PowerPhase® electric propulsion systems as part of the fleet build and vehicle development activities of an established international automobile manufacturer. Deliveries under the order are scheduled to occur in the fourth calendar quarter of 2010 and the first calendar quarter of 2011. Automobile companies typically build test fleets to evaluate new vehicles that are under development prior to their market launch.

“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,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies. “We have been in discussion with and under evaluation by this new customer for over six months and have satisfied their demanding requirements for system performance, safety, quality, availability and price. Introduction of this vehicle is targeted for 2012 and we have quoted delivery and price for over 25,000 systems.”

“The automotive qualification of our PowerPhase® electric propulsion system together with expansion of our manufacturing capacity to allow for the production of commercial volumes of this system at a competitive cost is creating additional opportunities with automobile manufacturers worldwide. This automobile company represents the ninth in a growing list of established carmakers with vehicles under evaluation powered by our electric propulsion and/or generator systems,” added Mr. Rankin.

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. The Company’s headquarters, engineering and product development center, and 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, future financial results and revenue growth, 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-K filed May 24, 2010, which is available through our website at www.uqm.com or at www.sec.gov.