UQM Technologies, Inc. (UQM)

[janice shell]

fwiw, the SEC has brought an administrative proceeding against the company:

https://www.sec.gov/litigation/admin/2019/33-10719.pdf

[Windbag1014]

https://www.uqm.com/English/investors/press-releases/press-release-details/2019/UQM-Technologies-to-Hold-Conference-Call-Thursday-March-28-2019-at-1030-AM-Eastern-Time/default.aspx

UQM Technologies to Hold Conference Call Thursday, March 28, 2019 at 10:30 A.M. Eastern Time

March 21, 2019

LONGMONT, Colo.--(BUSINESS WIRE)-- UQM Technologies, Inc. (NYSE AMERICAN: UQM), a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers, will hold a conference call with members of the investment community on Thursday, March 28, 2019, at 10:30 a.m. Eastern Time. To participate in the call, dial 888-241-0326 approximately 10 minutes before the conference is scheduled to begin and provide conference ID “7772609” to access the call. International callers should dial 647-427-3411. The call will be webcast from the Investors section of the company’s website at www.uqm.com/investors. Parties listening via the webcast will be in a “listen-only” mode. Please log onto UQM’s website 10 minutes prior to the start of the webcast to register.

Joseph R. Mitchell, UQM Technologies’ President and Chief Executive Officer, and David I. Rosenthal, the Company’s Chief Financial Officer, will be reviewing the Company’s operating results for the quarter and year ended December 31, 2018.

The presentation will be webcast live and made available for replay on the company’s website under the Investors section. To register, click here or visit www.uqm.com, click on the Investor tab and select “Webcast”. The webcast audio replay will be available two hours following the live event and can be accessed and replayed at any time.
About UQM Technologies, Inc.

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 IATF 16949 and ISO 14001 certified and located in Longmont, Colorado. Please visit www.uqm.com for more information.
Source: UQM Technologies, Inc.

[Windbag1014]

Still $1.71.

https://ih.advfn.com/stock-market/AMEX/uqm-UQM/stock-news/79427767/proxy-statement-merger-or-acquistion-definitive

[Windbag1014]

The caveat being that the deal does indeed go through.

[Windbag1014]

GAMCO/Gabelli bought over 6% of UQM. Does he think the kerfuffle from shareholders unhappy with the price will play out or is he just cashing on the run to $1.71 over the next few months? Could also be the combination of the two. He gets paid over 3% to wait for either outcome. I think I will wait with him.

https://ih.advfn.com/stock-market/AMEX/uqm-UQM/stock-news/79182155/statement-of-beneficial-ownership-sc-13d

[Windbag1014]

http://www.altenergystocks.com/archives/2019/01/shareholders-cry-foul-as-uqm-agrees-to-buyout/

Shareholders Cry Foul as UQM Agrees to Buyout

UQM Technologies (UQM:  NYSE) has agreed to be acquired by Danfoss Power Solutions for $1.71 per share in cash, providing a deal value near $100 million.  UQM leadership expects timely review by government authorities and has recommended approval of the deal by shareholders.  A date has not been set for the required shareholder vote.  Assuming all goes according to schedule, a deal closing is possible sometime in the second quarter 2019.

Electric propulsion and generation technologies are at the core of UQM’s solutions for manufacturing, transportation and power industries.  The substitution of electric motors for combustion engines has been driving demand for the UQM’s products.  Market opportunities have abounded for UQM and the world economy attempts to wean itself off environmentally damaging fossil fuels.  The company has reported steady increases in sales for the last five years, mushrooming to $10.9 million in the twelve months ending September 2018.

Some UQM shareholders may find inadequate the offer of $1.71 per share. During a conference call held with shareholders to discuss the Danfoss offer, UQM management cited competitive concerns as the primary reason behind the decision to accept the offer.  Demand conditions are excellent but the team sounded a practical caution on the challenges of capturing market share for a small company strong on technology and light on market access.

As rosy as the market opportunity might look, UQM’s management team know they are in a game for big boys and girls.  The market for motors, generators and compressors has matured to the point it is dominated by large manufacturers.  Customers are accustomed to choosing from extended product lines and receiving attention from worldwide networks of sales and service personnel.   Let’s not forget the confidence-building impression the plump balance sheet of a large company can make on customers ordering mission critical equipment.  UQM may have exceptional technology needed for adopting fuel cell technology or hybrid electric power systems, but it lacks the girth of its better established competitors.

The UQM-Danfoss tie-up is also not the first strategic move in the industry. In July 2017, automotive components supplier BorgWarner (BWA:  NYSE)snapped up one of UQM’s competitors, Sevcon, for $200 million.  Sevcon’s propulsion solutions encompassed conventional combustion systems as well as electric and hybrid systems.  A supplier of components to OEMs, Meritor, Inc. (MTOR:  NYSE), made a strategic investment in TransPower to gain access to Transpower’s electrification technologies for large commercial vehicles.  Deals are being made and those that are left out could find competition with the new combinations composed of ‘small company technology’ and ‘large company market reach’ more and more challenging.

UQM Technologies reported a net loss of $6.8 million on the $10.9 million in revenue for the last reported twelve months.  Cash usage during that period was $5.4 million, making it clear the company still needs outside financial support to keep the doors open and lights on.  Marketing and sales campaigns require investment, not to mention the working capital to fulfill orders.  The reality of the company’s situation is that to get a bite of the evolving electric propulsion and power generation market, UQM would require some sort of dilutive capital raise.  A strategic deal provides an interesting alternative to a financing, but retaining control might have also cost UQM shareholders dearly in the form of commissions or shared profits.

In comparison to the alternatives, at $1.71 per share UQM holders may be getting something close to fair value. The analysis may make some sense, but it does not take the sting out of the fact that after bearing the risks of an unprofitable company, UQM holders are getting shut out of the company’s future.  Danfoss Power Solutions, a part of privately held Danfoss Group, is swallowing up UQM Technologies in an all-cash deal.
The deal is likely to be successful, delivering strong sales for Danfoss. UQM’s fuel cell compressor system and all its other products will take a place in the Danfoss portfolio of hydraulic and electronic systems that are mostly marketed to off-highway vehicle markets.  Adding the UQM technology will give Danfoss a better position with manufacturers of electric buses and trucks.

The deal will also help Danfoss burnish its reputation as a ‘green’ company.  The company’s 2017 Sustainability Report provides a view on Danfoss goals to operate responsibly, an image which has to help in conversations with electric bus and truck manufacturers who needs to reduce carbon and increase energy efficiency in their supply chains.

So there it is. UQM holders are most likely than not to get a check for $1.71 per share.  We note that for most it might be a celebration.  Over the last eighteen years, the greatest volume is at prices near below $1.00.   Looking at trades in the most recent five years, we observe that the majority were at prices below $0.60.  However, in the last twelve months things have looked rosier for UQM Technologies and we find significant historic trading volumes at the $1.00 price level and $1.35.  Even for those who may have grabbed some shares at the 52-week high price of $1.66, Danfoss is offering a nickel gain.

Neither the author of the Small Cap Strategist web log, Crystal Equity Research nor its affiliates have a beneficial interest in the companies mentioned herein.

This article was first published on the Small Cap Strategist weblog on 1/22/19 as “Shareholders Cry Foul as UQM Agrees to Buyout.” 

[Windbag1014]

You will get paid $1.71 per share. All cash transaction. There will be no shares of UQM after the close of the deal.

The Longmont, Colorado company, a developer of alternative energy technologies, announced the deal Monday, under which Danfoss will acquire all outstanding common shares of UQM for $1.71 per share in an all-cash transaction valued at approximately $100 million, including the assumption of UQM’s debt.

Danfoss, a privately-owned multinational company with reported sales of €5.8 billion in 2017 (2018 full-year results to be released on February 28), is a leading manufacturer of hydraulic systems, drives, motors, and components for the automotive, aerospace, HVAC, and energy industries.

The merger anticipates that UQM will become part of the Danfoss Power Solutions segment.

[chyko]

what will happen to our uqm shares? is the company going private?

[Windbag1014]

UQM Technologies Signs Definitive Agreement to be Acquired by Danfoss

January 21, 2019

UQM Stockholders to Receive $1.71 per Share in Cash; Conference Call

January 22, 2019 at 8:30 a.m. Eastern

LONGMONT, Colo.--(BUSINESS WIRE)-- UQM Technologies, Inc. (NYSE American: UQM) (“UQM” or the “Company”), a developer of alternative energy technologies, today announced that it has entered into a definitive merger agreement with the Danfoss Power Solutions (US) Company, a wholly-owned subsidiary of Denmark-based Danfoss A/S (“Danfoss”), under which Danfoss will acquire all outstanding common shares of UQM for $1.71 per share in an all-cash transaction valued at approximately $100 million, including the assumption of UQM’s debt. Danfoss, a privately-owned multinational company with reported sales of €5.8 billion in 2017 (2018 full year results to be released on February 28), is a leading manufacturer of hydraulic systems, drives, motors, and components for the automotive, aerospace, HVAC, and energy industries. The merger anticipates that UQM will become part of the Danfoss Power Solutions segment.

The cash consideration represents a premium of approximately 52.5% over UQM’s closing share price on January 18, 2019 and a 71.4% premium to its weighted average trading price over the trailing 60 days. The transaction will be funded with Danfoss' cash on hand and is not subject to any financing condition. The merger agreement was unanimously agreed to by the Boards of Directors of both UQM and Danfoss; GDG Green Dolphin, LLC – which holds approximately 7.4% of the issued and outstanding shares of UQM – and all UQM directors and officers have executed Voting and Support Agreements in favor of the acquisition. Closing of the transaction is subject to approval by two-thirds of UQM shareholders and by the Committee on Foreign Investment in the United States (“CFIUS”) as well as other customary closing conditions.

Joe Mitchell, UQM Technologies’ President and Chief Executive Officer, stated, "We believe UQM will be an excellent addition to Danfoss as our products, business model, strategy and focus are closely aligned. Being part of a larger global enterprise will greatly improve our position to compete with other international players, open doors to new markets, and provide critical resources for UQM to continue developing the highly-engineered electric propulsion products we’re known for today. We believe the transaction positions UQM well for the future – particularly in key geographies such as China and India, where Danfoss already operates – and provides an attractive return for our shareholders. We’re proud of our many accomplishments and look forward to a future with Danfoss, with which we can enhance service for our customers, invest in technology, and adapt to the ever-changing dynamics of our core markets."

Kim Fausing, President & CEO of Danfoss, added, "It is a great pleasure to announce this transaction with UQM, which will position Danfoss for even stronger performance in the industries we serve. We see fast-growing demand for electric solutions within buses and trucks, off-highway vehicles, and marine markets in response to the more stringent emission regulations being imposed – stimulating interest in the efficiency and productivity gains our solutions bring. With an established North American presence, UQM will complement our global sales and manufacturing footprint nicely, further cementing our strong position in the marine as well as on- and off-highway markets. I look forward to welcoming the UQM team to Danfoss and our business."
The transaction is expected to close in the second quarter of 2019, subject to approval by UQM’s shareholders and CFIUS.
Conference Call

The Company will host a conference call tomorrow, January 22, 2019 at 8:30 a.m. Eastern Time to discuss the pending transaction. To attend the conference call, please dial 888-241-0326 approximately ten minutes before the conference is scheduled to begin and provide the conference ID “6215898” to access the call. International callers should dial [phone]. The call will also be webcast (audio) live and accessed from the company’s website at www.uqm.com/investors, and select “webcasts.” Parties listening via the webcast will be in a “listen-only” mode. Please log onto UQM’s website ten minutes prior to the start of the webcast to register.

The presentation will be made available for replay on the company’s website under the Investors section. To register, click here or visit www.uqm.com, click on the Investor tab and select “Shareholder Update Webcast.” A webcast (audio) replay will be available two hours following the live event and can be accessed and replayed at any time.

https://www.uqm.com/English/investors/press-releases/press-release-details/2019/UQM-Technologies-Signs-Definitive-Agreement-to-be-Acquired-by-Danfoss/default.aspx

https://ih.advfn.com/stock-market/AMEX/uqm-UQM/stock-news/79093090/current-report-filing-8-k

[Windbag1014]

UQM Technologies Wins Contract from Major Fuel Cell System Supplier in China for Fuel Cell Compressor Systems

December 17, 2018

LONGMONT, Colo.--(BUSINESS WIRE)-- UQM Technologies, Inc. (NYSE American: UQM) (“UQM” or the “Company”), a developer of alternative energy technologies, today announced it has won an order from a major fuel cell system supplier in China for UQM’s Fuel Cell Compressor System (“FCS”). This combined electric motor, inverter and compressor module was selected as a high-performance, cost-effective solution by this new production customer after having purchased several FCS units earlier in 2018 for demonstration purposes. The new contract will cover deliveries in 2019, and the initial order value is approximately $1.8 million. Additional details, including the name of the customer, specific vehicle program, and launch timing, were not disclosed for competitive reasons.

“We believe our fuel cell compressor system is the premier solution – from both a performance and cost perspective – in the market today,” said Joe Mitchell, UQM Technologies’ President and Chief Executive Officer. “At present, more than 50% of the operating fuel cell vehicles in China are estimated to be equipped with this company’s fuel cell engines, so we are very pleased that they have the confidence in UQM for this major contract – having worked closely with us earlier in the year. We look forward to partnering with them on additional orders going forward to support their growth and address the demand in this expanding market.”

The UQM FCS has been fully customized for fuel cell applications covering a wide range of applications, supporting fuel cell stacks from 30kW-150kW and 270-800 VDC voltage range, a pressure ratio ranging from 1 to 2.2, and airflow from 100 to 500 kg/h. FCS units are already deployed in a number of vehicle applications including full size transit buses, port vehicles, shuttle vans and passenger cars through a broad range of power levels.


UQM Technologies Wins Contract from Major Fuel Cell System Supplier in China for Fuel Cell Compressor Systems

[Windbag1014]

UQM Technologies wants to be the engine that propels the EV industry forward

https://www.onenewspage.com/n/Business/1zjb7964ii/UQM-Technologies-wants-to-be-the-engine-that.htm

[Windbag1014]

Got this from IR for UQM. India has a lot of buses...

Dear UQM investor/analyst --

Please see the link below for some recent information on Ashok Leyland's outlook for 2019. While UQM is not directly mentioned, this is very relevant to our expansion plans in India...

https://www.financialexpress.com/industry/ashok-leyland-gears-up-for-electric-vehicle-onslaught-lines-up-four-products-for-rollout-in-2019/1380020/


Best regards,

Chris Witty
UQM Investor Relations
646-438-9385

[IMMC1990]

AND....The one year Cup-Handle is still play.

[IMMC1990]

The key words for me this last year have been:
China, India, Lightning Systems aka (FORD).

[Windbag1014]

If things keep growing like they are now, you should be just fine. My first buy was March last year.

[Porterhouse10]

I regret not pulling the trigger sub $1, and know better, nice revenues

[Windbag1014]

Nice indeed. Market likes it as well.

[Porterhouse10]

Nice

[Windbag1014]

Third Quarter Highlights
Revenue of $4.4 million, up 59% compared to the third quarter of 2017
Showcased the Company’s new PowerPhase® HD2 electric motor inverters at the Electric & Hybrid Vehicle Technology trade show in Michigan
Announced $3 million of additional Chinese orders for fuel cell compressor systems along with one from Lightning Systems for electric propulsion
Will introduce a fully-integrated fuel cell compressor system at the upcoming Hydrogen Energy & Fuel Cell Technology Expo in Foshan, China
“UQM marked another quarter of strong top line growth and new purchase orders as we continued making progress on our path to profitability,” said Joe Mitchell, UQM Technologies’ President and Chief Executive Officer. “Revenue rose nearly 60% year-over-year – underscoring robust demand – while lower margins reflected product mix and ongoing business investment. During the period we further advanced our development work with Meritor, grew the Company’s presence in China, and focused on other international expansion opportunities such as India. We announced $3 million of new Chinese orders for fuel cell compressor systems as well as an incremental award from Lightning Systems, while also showcasing our technology at a major trade show in Michigan. In addition, we’ll be introducing a fully-integrated fuel cell compressor system at an upcoming expo in China. Overall we believe the positive trends of the past two quarters will continue going forward, leaving us positioned for strong growth and improved bottom line results heading into 2019.”

Results for the Three Months Ended September 30, 2018
Revenue for the third quarter of 2018 was $4.4 million compared to $2.8 million for the third quarter last year, an increase of 59%.
The Company reported a loss from operations of $1.2 million for the quarter versus $1.1 million in the prior-year period. Lower gross profit, reflecting product mix, was partially offset by a reduction in SG&A expense to $1.8 million from $2.0 million in the 2017 third quarter.
Net loss for the third quarter was $1.1 million, or $(0.02) per common share, compared to a net loss of $0.5 million, or $(0.01) per common share, last year. The fiscal 2017 third quarter included a $0.6 million gain from the sale of property.

Conference Call
The Company will host a conference call tomorrow, November 1, 2018 at 10:30 a.m. Eastern Time, to discuss operating results for the quarter ended September 30, 2018. To attend the conference call, please dial 888-241-0326 approximately ten minutes before the conference is scheduled to begin and provide the conference ID “2599761” to access the call. International callers should dial [phone]. The call will also be webcast live and accessed from the company’s website at www.uqm.com/investors. Parties listening via the webcast will be in a “listen-only” mode. Please log onto UQM’s website ten minutes prior to the start of the webcast to register.
An audio replay of the webcast will be available two hours after the call and can be accessed on the investor page of website using the link listed above.

https://www.uqm.com/English/investors/press-releases/press-release-details/2018/UQM-Technologies-Reports-Third-Quarter-Financial-Results/default.aspx

[IMMC1990]

Looks like a six month cup & handle is forming????

[IMMC1990]

Electric-powered planes are taking off

http://www.foxnews.com/tech/2018/08/16/electric-powered-planes-are-taking-off-amid-rising-fuel-costs.html

[gogoyears]

The bookings for this company are building. It could be that the business and sector are finally mature enough for the market to take notice
2018 might well be a breakout year for UQM.

[King Bolaba]

I bought my first shares of UQM after watching this Charlie Rose interview of Neil Young many years ago. It’s an interesting interview. The UQM part is about 20 minutes into it. https://charlierose.com/videos/18885

[Porterhouse10]

Been watching this one, love the chart, made a rookie mistake and shoulda grabbed the bottom at $1.19/$1.20 a few months back, got involved with FUSZ, keeping a watchful Eye here!

[gogoyears]

UQM The company has already booked more business in 2018 than in all of 2017...per the conference call.

[gogoyears]

UQM This was the single most positive conference call they have ever had. We're looking at multiple expansion for years! The world is going electric and hydrogen and UQM is in the middle of the expansion in the largest markets!

[gogoyears]

Looking forward to this Q. Bought more today.

[JBowsNose]

Buying 1.28

[gogoyears]

UQM Six month chart says it all...very nice uptrend supported by positive news without any irrational exuberance.

[jrstu]

Very informative (UQM) conference call!

https://www.investornetwork.com/company/3570

[jrstu]

UQM Technologies Signs Joint Venture Agreement with China National Heavy Duty Truck Group Co., Ltd.

Business Wire Business WireNovember 30, 2017
LONGMONT, Colo.--(BUSINESS WIRE)--

UQM Technologies, Inc. (NYSE American: UQM) announced today it has signed a Joint Venture Agreement (“JVA”) with China National Heavy Duty Truck Group Co., Ltd. (“CNHTC”) and Sinotruk Global Village Investment Limited, a Hong Kong based limited liability company owned by CNHTC. Under the JVA, UQM will acquire a 25% ownership share of the joint venture with CNHTC and its affiliate collectively acquiring a 75% share. UQM has the option to increase its ownership position to 33% in the next one to three years. The initial total capital of the joint venture will be $24 million, with UQM contributing $6 million in three installments during the next year. UQM’s funding requirement is contingent on the closing of the Second Stage Investment with CNHTC, in accord with the terms of the Stock Purchase Agreement signed by both parties on August 25, 2017.

The joint venture will be named Sinotruk Qingdao Zhongqi New Energy Automobile Co., Ltd. and will be headquartered in the city of Qingdao, China. The purpose of the JV will be to serve the China market for commercial vehicle E-drives and the global market for E-axles. The annual production capacity which the JV intends to establish is 50,000 systems, and it is anticipated to commence commercial operations in 2019.

“We are very excited to have signed a joint venture agreement with CNHTC,” said Joe Mitchell, President and CEO of UQM. “Our strategy for many years has been to align ourselves with a Chinese partner that would enable us to have a local manufacturing presence in China. This JV agreement gives us the opportunity to manufacture and sell our electric propulsion systems to the largest market in the world for electric vehicles. We believe that our alliance with CNHTC, given their size, strength, and world class reputation in the global commercial vehicle market, combined with UQM’s second-to-none electric propulsion technology, will generate many opportunities for growth.”

Mr. Ma Chunji, Chairman of CNHTC, said, “The new joint venture with UQM provides us the best technology to expand our new energy vehicle presence in China. While we do business in over 100 countries, we also look forward to using our partnership with UQM to grow in the global market as well. We look forward to a long and successful relationship with UQM.”

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.

About China National Heavy Duty Truck Group Co., Ltd.

China National Heavy Duty Truck Group Co., Ltd. (“CNHTC”) is the parent company of Sinotruk (Hong Kong) Limited (“Sinotruk”), a leading heavy-duty commercial vehicle manufacturer in China and one of the largest commercial vehicles groups in the world. Its products are distributed in over 90 countries worldwide, including in South America, Africa, Southeast Asia, the Middle East, Ireland and Australia, among many others.

Since its founding in 1950, Sinotruk has had a long and successful history cooperating with international partners in developing new products and markets in China and elsewhere, including Steyr of Austria, MAN SE of Germany, and Cargotec of Finland. CNHTC has two subsidiaries listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, respectively.

[jrstu]

UQM Technologies Announces Strategic Alliance with Meritor to Jointly Develop Full Electric Axle Systems (E-Axles) Targeting the Medium and Heavy-Duty Commercial Vehicle Market

Business WireFebruary 2, 2017
LONGMONT, Colo.--(BUSINESS WIRE)--

UQM Technologies, Inc. (NYSE MKT: UQM) announced today the signing of a development agreement with Meritor, Inc., located in Troy, Michigan. The development program is expected to last for two-and-one-half years. The alliance calls for Meritor to develop integrated axle components for E-axle technology. The components will be combined with UQM’s motor and inverter technology and hardware to create the Meritor and UQM Electric Axle System (“MUQM Electric Axles”) for the medium and heavy-duty commercial vehicle markets.

The benefits of the system are expected to allow customers in the medium and heavy-duty EV commercial markets to improve on component packaging requirements, realize cost savings from integration, and increased vehicle performance. “We are excited to align ourselves with Meritor to address the commercial market from a new vantage point. This allows UQM to focus on design and development and in turn approach the market as a Tier 2 supplier with a proven Tier 1 OEM,” said Joe Mitchell, President and CEO of UQM. “We believe this relationship gives Meritor the opportunity to become a leading supplier of E-axles using UQM’s technology allowing customers to benefit from integrated solutions that drive cost savings in the long term.”

“We are pleased to engage with UQM on this important project,” said John Bennett, Meritor’s General Manager of Global Product Strategy. “We believe that this relationship will provide leading edge technology that will meet and exceed our customers’ expectations for E-axle solutions.”

The companies anticipate that prototypes will be ready by early fall of 2017.

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, military 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 Meritor

Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of approximately 8,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR.

[jrstu]

UQM Technologies Announces the Closing of First Stage Investment by China National Heavy Duty Truck Group Co., Ltd., Parent Company of Sinotruk, a Leading Chinese Commercial Vehicle Manufacturer

Business WireSeptember 25, 2017
LONGMONT, Colo.--(BUSINESS WIRE)--

UQM Technologies, Inc. (NYSE American: UQM) announced today it has closed the first stage investment under its stock purchase agreement (the “Agreement”) with China National Heavy Duty Truck Group Co., Ltd. (“CNHTC”) through its wholly owned subsidiary, Sinotruk (BVI) Limited. In this first stage investment, CNHTC has acquired 5,347,300 newly issued common shares of UQM, resulting in a 9.9% ownership interest in UQM. The purchase price is $0.95 per share, which represents a 15% premium over the 30-day closing price average for the period ending on the last trading date before the signing of the Agreement on August 25, 2017. UQM is receiving $5.1 million of cash proceeds from this first closing.

Closing of the second stage investment will require approval by UQM’s shareholders and clearance by the Committee on Foreign Investment in the United States (“CFIUS”). The parties expect the second stage investment to close as soon as those approvals are received.

As part of the Agreement, upon the closing of the first stage investment, Mr. Ma Chunji, Chairman of CNHTC, has been appointed to the Board of UQM as a non-voting observer member. Upon the closing of the second stage investment, (i) UQM will increase the size of its Board to eight members, (ii) the Board observer shall have all the rights of a full Board member and (iii) CNHTC will have the right to nominate two additional Board members, with one CNHTC representative expected to be elected as the Chairman of the Board of UQM.

After the closing of the second stage investment, UQM and CNHTC intend to form a joint venture for the manufacture and sale of electric propulsion systems in China. The parties expect Sinotruk to be a significant purchaser of electric propulsion systems from the joint venture, and other customers will be identified for sales as well. The parties are continuing their work to complete the definitive agreement that will define the terms of this joint venture in China.

“The closing of the first stage investment is a significant milestone in our new relationship with CNHTC,” said Joe Mitchell, President and CEO of UQM. “The proceeds from this investment add strength and stability to our balance sheet. We are now actively engaged to obtain approvals from our shareholders and from the Committee on Foreign Investment in the United States (CFIUS), so that we can finalize the second stage investment from CNHTC. This will allow us to execute on our strategy to become a major player in the electric vehicle propulsion market in China.”

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.

About China National Heavy Duty Truck Group Co., Ltd.

China National Heavy Duty Truck Group Co., Ltd. (“CNHTC”) is the parent company of Sinotruk (Hong Kong) Limited (“Sinotruk”), a leading heavy-duty commercial vehicle manufacturer in China and one of the largest commercial vehicles groups in the world. Its products are distributed in over 90 countries worldwide, including in South America, Africa, Southeast Asia, the Middle East, Ireland and Australia, among many others.

Since its founding in 1950, Sinotruk has had a long and successful history cooperating with international partners in developing new products and markets in China and elsewhere, including Steyr of Austria, MAN SE of Germany, and Cargotec of Finland. CNHTC has two subsidiaries listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, respectively.

[Windbag1014]

https://finance.yahoo.com/news/uqm-technologies-reports-strong-third-200200639.html

UQM Technologies, Inc. (NYSE American: UQM), a developer of alternative energy technologies, today announced operating results for the third quarter ended September 30, 2017. Total revenue for the quarter was $2.8 million compared to $1.0 million in the third quarter last year, an increase of 169%. Net loss for the third quarter was $543,000, or $0.01 per common share. This compares to a net loss of $2.4 million, or $0.05 per common share for the same period last year.

“Steady sales of our propulsion systems along with sales of fuel cell compressor systems to our Chinese OEM customer drove our dramatic increase in revenue,” said Joe Mitchell, UQM Technologies’ President and Chief Executive Officer. “During the quarter, we also closed the first stage investment from China National Heavy Duty Truck Company and received $5.1 million in cash from the sale of 9.9% equity ownership of our common stock. We continue to make progress towards the closing of the second stage investment. Our strengthened balance sheet and the momentum we are seeing in the business should help us capitalize on our initiatives and further execute on our strategy to be a global leader in electric propulsion systems.”

[gogoyears]

UQM GM will go all electric by 2023. UQM could well be a buyout sooner than later. Great product line and high efficiency nonrare earth intellectual assets.

[gogoyears]

UQM So with the second stage of the China investment coming up for a Proxy vote, anyone know the purchase price per share? It could relate to a moving average but I'm not certain. I am looking at buying in here but want to make sure the price won't drop all at once.

[Windbag1014]

Lots of stuff in the works. I think they are heading in the right direction anyway.

[gogoyears]

UQM Do the DD and you will see this company broadening it's scope and increasing the revenues. 2018 might well be the year UQM makes some $$

[gogoyears]

UQM So the cash injection will offset the cost of ramping up production to meet the new future orders. This is setting up nicely.

[TheInvincibleBull]

UQM this baby is hott!!!

[gogoyears]

UQM This could have legs if they finally get some orders! Even break even orders would be huge.

[cornbread]

Stop limit took me out... looking for a drop to get back in.

[splinter68]

I hope so. I got in when it was over $1 and have added more and looks to finally working it's way back north.

[cornbread]

Can it be that UQM will top $1.00 in the near future?

[carolinacoast]

What is this worth based on your estimation with the news

[TheFinalCD]

news= http://ih.advfn.com/p.php?pid=nmona&article=71841926

[Pharaoh-1]

Getting close to $1

[Pharaoh-1]

Looking good....it seems that news is imminent to me...

[Pharaoh-1]

All we need here is buying volume and we fly just by momentum...any small piece of news would help tremendously

[Chance]

targeting a buck for now