Shares of UQM Technologies Inc (NYSEMKT:UQM) were

Shares of UQM Technologies Inc (NYSEMKT:UQM) were down -53.85% versus prior close, having declined -25% this year. The Industrials Company on October 26, 2015 stated the signing of a ten year supply agreement (“Agreement”) with ITL Efficiency Corporation (“ITL”) in China, a subsidiary of Eastlake New Energy (“Eastlake”). Over the term of the Agreement, revenues could exceed $400 million based on projected volume shipments. Production is expected to begin in early 2017 following development, test and certification programs during 2016, and timing will be dependent on the successful completion of the test and certification processes, followed by orders under the Agreement. The Company has received the first purchase order under the Agreement for the initial 3,000 units which are expected to ship in 2017. UQM will manufacture its electric propulsion systems in Colorado through 2017 with plans to produce product in China beginning in 2018. Initially, the PowerPhase Pro 135 electric propulsion system will be sold to address the 6-8 meter shuttle bus market in China, with larger delivery truck and transit bus applications slated to begin in early 2017 with the PowerPhase HD 250 system.

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