UQM Technologies Inc. announces that it has signed an extension to its long-term supply agreement with Proterra to support Proterra’s growth demands. UQM is the primary supplier of electric propulsion systems to Proterra. The extension reflects the increased demand in the U.S. marketplace for the Proterra buses and the expected increased production volume of the UQM PowerPhase HD systems. Exemplified by the growing number of U.S. transit agencies signing up to deploy Proterra’s zero-emission buses, the Proterra/UQM solution is being seen as a credible and proven clean technology that is both economically and environmentally sound.
“We are extremely excited about the signing of this long-term agreement extension with Proterra. It speaks to the relationship and trust that we have developed between our companies,” says Joe Mitchell, President and CEO of UQM Technologies Inc. “We see Proterra as the leader in the EV U.S. transit market and look forward to our strategic growth as partners in this market space. The experience we have mutually gained with Proterra through their support, success and growth has translated into a product that is second to none in this market. We look forward to our continued growth and expanding our drivetrain technology offerings globally to support this exciting market segment.”
Ryan Popple, CEO of Proterra says, “UQM has consistently performed to our expectations, and helped us raise the bar for the market as a whole. The extension of our long-term supply agreement with UQM reflects our mutual success in this partnership, and speaks to the ability of both teams to address the technology curve as well as provide solutions that are attractive to our EV customer base. The Proterra bus powered by UQM is the best transit technology on the road today, and this extended supply agreement signals our long term confidence in UQM.”