UQM Technologies at work

UQM Technologies at work

UQM Technologies announced that its customer base is expanding in Europe. The latest company to buy UQM's motor and controller is Inter Tan-ker Ltd. in Hungary, which uses it for all-electric mini bus.

According to UQM, this is the first all-electric mini bus to be approved for use by the Hungarian National Transport Authority.  However, this is not the first time for UQM to show that it has some OEMs on-board.  But we don't believe that UQM has signed a deal of enough volume to be profitable.

Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. stated:

“It’s rewarding and exciting to be part of new vehicle segments in emerging markets, and we’re proud to work with Inter Tan-ker on their vehicle test program. Our diverse line of electric motors and controllers, as well as our experience in markets around the world, make our systems attractive to global vehicle manufactures.”

The interesting thing about this new project is that Inter Tan-ker mini bus, equipped with the PowerPhase HD Select 150, has range of nearly 300 kilometers (185 miles).

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