UQM Technologies Announces Collaboration with Lightning Systems for the Advanced Fuel Qualified Vehicle Modifier (eQVM) Program by Ford Motor Company

October 19, 2017
  • UQM has been chosen by Lightning Systems as its strategic EV
    propulsion system supplier for their EV platforms.
  • UQM will supply powertrain components consisting of a gearbox, an
    electric motor and the inverter as well as software controls for the
    EV performance and efficiency.
  • This collaboration will provide UQM both development funding and the
    opportunity to supply components to Lightning Systems to support their
    vehicles as part of the Advanced Fuel Qualified Vehicle Modifier
    (eQVM) program by Ford Motor Company.

LONGMONT, Colo.–(BUSINESS WIRE)–UQM Technologies, Inc. (NYSE American: UQM) announced today that
it will collaborate with Lightning Systems to support the Ford Transit
concept vehicles for Lightning Systems’ beta programs for the Advanced
Fuel Qualified Vehicle Modifier (eQVM) program by Ford Motor Company.
The Ford eQVM program provides recognition to aftermarket equipment
installers that meet manufacturing guidelines and best practices for
alternative fuels and advanced technologies (such as electric vehicles
and hydraulic hybrids). Lightning Systems, located in Loveland,
Colorado, is already in production with hydraulic hybrid applications,
and is in the process of expanding its customer offerings to electric
vehicles. This early production program supports the initial vehicles
that are expected to be delivered to customers during the first quarter
of 2018.

It is a major accomplishment for both respective companies located in
Colorado to be in a position to support green technology initiatives for
an approved OEM under the Advanced Fuel Qualified Vehicle Modifier
Program.

“We are excited about this opportunity to foster this relationship with
Lightning Systems. The synergies that exist between our companies are
ideal for the EV market with respect to clean technology, geographic
location, and learned experience,” said Joe Mitchell, President and CEO
of UQM. “This relationship allows Lightning Systems the opportunity to
support its current and future growth customers with quality engineered
products and excellent customer service solutions.”

“We are pleased to have UQM as one of our key partners supporting our EV
products and strategy,” said Tim Reeser, President and CEO of Lightning
Systems. “This relationship will allow us to provide leading edge
technology that will exceed our customers’ expectations for high quality
and cost-effective zero emissions vehicles.”

About UQM

UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators, power electronic
controllers and fuel cell compressors for the commercial truck, bus,
automotive, marine and industrial markets. A major emphasis for UQM is
developing propulsion systems for electric, hybrid electric, plug-in
hybrid electric and fuel cell electric vehicles. UQM is TS 16949 and ISO
14001 certified and located in Longmont, Colorado. For more information,
please visit www.uqm.com.

About Lightning Systems

Lightning Systems, based in Loveland, Colo., is a leader in efficiency
and emissions improvement solutions for fleets around the world. The
company’s products include: LightningElectric, a zero-emissions
full-electric fleet vehicle; LightningAnalytics, a cloud-based analytics
system for fleet vehicles; LightningHybrid, a hydraulic hybrid energy
recovery system for medium- and heavy-duty vehicles; and a variety of
other fleet fuel efficiency and emissions improvement products to be
introduced in 2018 and 2019. To learn more, visit www.lightningsystems.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 management with respect to, among other things,
gaining required certifications, new product developments, future orders
to be received from our customers, sales of products from inventory,
future financial results, liquidity, 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 and Form
10-Q's, which are available through our website at www.uqm.com
or at www.sec.gov.

Source: UQM Technologies, Inc.

Contacts

EnergyTech Investors, LLC
Shawn Severson, 415-233-7094
or
UQM
Technologies, Inc.
David Rosenthal, 303-682-4900