UQM Technologies Enters India Electric Vehicle Market, Receives Initial Order from Ashok Leyland for UQM PowerPhase® Electric Drivetrain (eDT) Systems for Transit Bus Applications

• Ashok Leyland has chosen UQM as its E-drive supplier for their transit
  bus vehicles in India, and has started the initial demonstration
  program, utilizing the UQM PowerPhase® Electric Drivetrain
  (eDT).
• Initiative supports the India 2030 electrification plan and the key
  transit bus market in India. Transit buses are a fundamental mode of
  mass transit in India and one of the most important parts of the India
  electrification initiative.
• Ashok Leyland is a global OEM and market leader in India that
  manufactures commercial vehicles used in the truck and bus industry.
• The Ashok Leyland/UQM demonstration program for electric transit buses
  is scheduled to span 2018, with initial production anticipated to
  begin in 2019.

LONGMONT, Colo.–(BUSINESS WIRE)–UQM Technologies, Inc. (NYSE American: UQM) today announced the
first purchase order from Ashok Leyland, a major India commercial
vehicle manufacturer. The purchase order is for fifty-one UQM PowerPhase®
eDT systems to be shipped during 2018 for a demonstration program for
electric transit buses in India. The purchase order signifies the first
step in the development program to gain market leadership and drive the
overall 2030 India electrification initiative.

Ashok Leyland manufactures commercial vehicles of all classes and is the
second largest commercial vehicle manufacturer in India.

The electric bus program is utilizing the high efficiency UQM PowerPhase
eDT traction drive system, which uses the UQM electric drive paired with
an Eaton 2-speed transmission. The PowerPhase eDT has proven efficiency,
range, and reliability with millions of miles on the road with UQM’s
global customers. This program will assist in reducing dangerous levels
of diesel emissions, thereby improving operational safety and
environmental conditions in the India transit arena.

Upon successful completion of the demonstration program, Ashok Leyland
would plan to move forward with its strategy to grow the India EV market
with additional zero-emission vehicles incorporating the UQM electric
drive technology.

“The development work between our teams has been significant to get to
this point, and now the prototype program for this strategic alliance is
underway. UQM is aligned with Ashok Leyland’s vision and is prepared to
support and grow this critical commercial vehicle transit bus market in
India. We view this as a long term relationship, and we are pleased to
support our new strategic customer,” said Joe Mitchell, President and
CEO of UQM Technologies.

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 Ashok Leyland

Ashok Leyland is the second largest commercial vehicle manufacturer in
India, fourth largest manufacturer of buses in the world, and twelfth
largest manufacturer of trucks globally. Operating nine plants, Ashok
Leyland also makes spare parts and engines for industrial and marine
applications.

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