BDA Advises UQM Technologies on Equity Issue & JV with China National Heavy Duty Truck/Sinotruk
Summary
We believe CNHTC’s size, global presence, and experience in commercial vehicles and desire to become a major player in the new energy market in China will enable us to accelerate our strategic initiatives and also makes us a much stronger company, creating long-term shareholder value.Since its founding in 1950, CNHTC has had a long and successful history cooperating with international partners in developing new products and markets in China and elsewhere, including Steyr of Austria, MAN SE of Germany, and Cargotec of Finland.The parties expect Sinotruk to be a significant purchaser of electric drive trains from the JV for Sinotruk’s commercial vehicles and other customers will be identified for sales as well.“After a long and thorough process to find the right strategic partner to enter the China market and expand globally, we are thrilled to be joining forces with CNHTC,” said Joe Mitchell, President and CEO of UQM.We believe CNHTC’s size, global presence, and experience in commercial vehicles and desire to become a major player in the new energy market in China will enable us to accelerate our strategic initiatives and also makes us a much stronger company, creating long-term shareholder value.International callers should dial +1-404-537-3406.About UQMUQM 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.