UQM Technologies and Phoenix Motorcars to Collaborate on the Development of a Plug-In Hybrid Sport Utility Truck

    FREDERICK, Colo., April 25 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES,
 INC. ( UQM) announced today that it has completed an agreement with
 Phoenix Motorcars, Inc. to collaborate on the development of a plug-in
 hybrid model of a sport utility truck currently produced and sold by
 Phoenix as an all-electric vehicle.
     Plug-in hybrid electric vehicles ("PHEV") use the same technology as
 the popular hybrids on the road today, but have a larger battery that can
 be recharged by plugging into a standard home outlet. Both standard hybrids
 and PHEV's are powered by a combination of electricity and liquid fuels.
 However, PHEV's draw their charge not only from the engine and captured
 braking energy, but from the electrical grid as well when they are plugged
 into a standard electrical socket. PHEV's have liquid fuel tanks and
 internal combustion engines, so they do not face the range limitation posed
 by electric-only cars. PHEV's are typically outfitted with a battery pack
 sufficient to power the vehicle from 20 to 60 miles on battery power alone.
 According to some reports, half of the cars on America's roads are driven
 25 miles a day or less. A PHEV with a 25-mile range battery could eliminate
 gasoline use in the daily commute of millions of Americans while
 maintaining the capability to travel cross-country distances. An energy
 equivalency analysis between battery power and a gallon of gasoline has
 estimated that PHEV's can be operated at a cost of less than $1.00 per
 gallon.
     The Phoenix Sport Utility Truck is a five-passenger dual cab pickup
 truck measuring 194 inches in length with a wheelbase of 108 inches. The
 vehicle has an independent torsion bar and double wishbone front
 suspension, rack and pinion steering and a 1/2 ton payload carrying
 capacity. The plug-in hybrid model to be developed will include a small
 gasoline fueled internal combustion engine, a UQM(R) PowerPhase 100
 propulsion system and NanoSafe(R) lithium titanate batteries from Altair
 Nanotechnologies, Inc. ( ALTI).
     "The development of a plug-in hybrid model of our sport utility truck
 is an important expansion of our model offering that we expect will meet
 the needs of a broader range of customers. Plug-in hybrids offer the
 opportunity to operate the vehicle in the most common driving environments
 in all-electric mode, saving money and reducing emissions, while
 maintaining the flexibility to travel cross-country. We believe a
 potentially large market will develop for this category of vehicle and we
 intend to develop a high performing vehicle that our customers can be
 excited to own and drive," said Dan Elliott, President and Chief Executive
 Officer of Phoenix Motorcars, Inc.
     "We are excited about the opportunity to collaborate with Phoenix
 Motorcars on this exciting new development. Plug-in hybrid electric
 vehicles present us with a tremendous opportunity to achieve broader market
 share for our propulsion systems and electronics. We are looking forward to
 participating in the development and launch of another exciting Phoenix
 model with our other strategic partners, Boshart Engineering and Altair
 Nanotechnologies", said William G. Rankin, UQM Technologies' President and
 Chief Executive Officer.
     Phoenix Motorcars Inc., a privately-held company headquartered in
 Ontario, Calif., has been an industry leader in the development of
 battery-electric, freeway-speed vehicles since 2001. The mission of Phoenix
 Motorcars is to manufacture zero-emission vehicles including Sport Utility
 Trucks and Sport Utility Vehicles to reduce the toxic emissions from the
 largest contributor to air pollution, personal automobiles. For additional
 information, visit www.phoenixmotorcars.com.
     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, plug-in hybrid electric and fuel cell electric
 vehicles, 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.
     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 the development of markets for our products and the adequacy of our
 cash balances and liquidity to meet future operating needs. 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 January
 30, 2007, which is available through our website at www.uqm.com or at
 www.sec.gov.
 
 

SOURCE UQM Technologies, Inc.