UQM Technologies Inc. announces 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 its 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,” says Joe Mitchell, President and CEO of UQM Technologies.
