UQM Technologies (UQM) Streamlines its Structure to Focus on Future Growth and Efficiency

Apr. 1, 2011 (Business Wire) — UQM Technologies, Inc. (NYSE Amex: UQM), a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers, is streamlining the company to better prepare for growth and success while improving efficiency.

Previously, UQM operated as two businesses, focused on production and product development. It will now function as one company with efforts aligned into four core functions:

• Finance – This group will oversee all finances and business functions, including human resources and administration. It will be led by Donald A. French, Treasurer and Chief Financial Officer.
• Operations – This group will include the manufacturing and procurement functions for all high-volume and prototype systems. It will be led by Ron Burton, Senior Vice President of Operations.
• Engineering – This group will include both production and development engineering. It will be led by Jon Lutz, Vice President of Engineering.
• Sales and Business Development – This group will focus on developing new business opportunities, potential market segments, product and regional expansion and investigating potential strategic partnerships. An executive to lead this team will be announced at a later date.

Each leader of these new core areas will report directly to Mr. Ridenour, President and Chief Executive Officer.

“This organizational change is key to our transition to high-volume production of our electric-drive systems and to developing new customers,” said Mr. Ridenour. “This new alignment of resources enables the company to operate more efficiently and helps UQM to focus on the development of next generation products, continue to improve manufacturing processes and reduce cost and more aggressively pursue additional sales of our production-validated electric-propulsion systems.”

Over the past five weeks, UQM has announced business agreements to supply Audi, Rolls-Royce and Saab with electric propulsion systems for pre-production test fleets. The company has a validated production line capacity of 40,000 units per year to supply CODA Automotive and other automotive OEM companies. UQM also supplies Proterra Inc. with electric propulsion systems to power their composite transit buses, as well as Electric Vehicles International (EVI) for its medium-duty delivery vehicles.

“The electrification of the vehicle marketplace is happening at a rapid rate, and our significant investments throughout the company make us well-positioned to deliver the value, innovation and quality that our customers expect,” continued Ridenour. “Our realignment allows us to continue doing what we do, only better – delivering high-quality, competitive products for the fast growing electric vehicle and hybrid markets.”

The company recently relocated to a new 130,000 square foot, 30-acre facility in Longmont, Colorado. The facility houses a fully validated production process that meets Advanced Product Quality Planning (APQP) automotive standards and is capable of high-volume, quality production, including successful programs for major automotive OEMs.

About UQM Technologies, Inc.

UQM Technologies 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 for UQM 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. UQM headquarters, engineering, product development center and manufacturing operation are 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, orders to be received under our supply agreement with CODA Automotive, 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 February 1, 2011, which is available through our website at www.uqm.com or at www.sec.gov.

UQM Technologies, Inc.

Donald A. French, 303-682-4918

or

BPC Financial Marketing

John Baldiserra, 800-368-1217