UQM Technologies Receives $1.2 Million Explosion-Proof E-Drive System Order from KESHI for the China Mining Vehicle Market

• The order was placed by KESHI, a major Chinese manufacturer of
  commercial vehicles used in the mining industry.
• Shipments are scheduled to occur during 2018.
• The explosion-proof E-drive system includes UQM’s PowerPhase®
  950T and is an integral part in the vehicle application for the
  Chinese mining industry. This product eliminates dangerous diesel
  emissions, thereby improving mine operational safety conditions for
  workers.
• UQM signed a cooperation agreement with KESHI in 2015. KESHI’s
  production launch was delayed due to the market conditions, but now
  has made a major commitment to this new energy market.

LONGMONT, Colo.–(BUSINESS WIRE)–UQM Technologies Inc. (NYSE AMERICAN: UQM) today announced the
first significant purchase order from KESHI, a major Chinese
manufacturer of commercial mining vehicles. The purchase order is for
explosion-proof E-drive systems and is valued at $1.2 million. Shipments
are expected to occur during 2018. While UQM signed a cooperation
agreement with KESHI in 2015, KESHI’s production launch was delayed due
to the market conditions, but now has made a major commitment to this
new energy market application. KESHI plans to move forward with their
strategy to do final assembly and test in China under UQM’s current
cooperation agreement for explosion-proof electric propulsion systems in
China.

“The development work between our teams has been significant, and we are
very pleased that KESHI now seems poised to support and grow the
commercial electric mining vehicle market in China. We see the receipt
of this purchase order as the beginning of a long term growth
opportunity with KESHI,” 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 KESHI GROUP

Changzhou KESHI GROUP is the leading manufacturer and marketer of coal
mining auxiliary transport technology and equipment in China. With over
1,600 employees, the company has numerous patents stemming from their
expertise in the design and development of these specialty vehicles.
KESHI GROUP is the largest developer and manufacturer of explosion-proof
vehicles in China, and is devoted to the development and manufacturing
of explosion-proof electric vehicles.

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-Qs, 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