The all-electric pickup truck will incorporate a highly efficient, low electromagnetic interference (EMI) UQM® electric propulsion system consisting of a 100 kW permanent magnet electric motor and a power electronic controller featuring digital signal processing (DSP) and controller area network (CAN) technology. The energy storage system will be a lithium-ion battery pack, and many of the auxiliary systems on-board the vehicle, such as the power steering and air conditioning system, will be electrically driven.

Commenting on the additional funding, William G. Rankin, UQM Technologies' President and Chief Executive Officer said, "We are pleased to see an expansion of this very important project. While hybrid vehicles continue to be our primary focus, we are excited about this opportunity to build an all-electric pickup truck that combines our highly efficient propulsion system with advanced high energy density batteries and charging system, which should dramatically improve the range capability of the vehicle without diminishing any of its performance characteristics. The ever increasing cost of fuel and ability of these advanced technologies to overcome some of the limitations of previously developed battery powered vehicles, could potentially lead to a resurgence of interest in all-electric vehicles, particularly within niche markets of interest to the Company."

UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, 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 and fuel cell electric vehicles, 42-volt 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.