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BRIEF-UQM Technologies signs joint venture agreement with China National Heavy Duty Truck Group
December 1, 2017 / 12:11 AM / 11 days ago

BRIEF-UQM Technologies signs joint venture agreement with China National Heavy Duty Truck Group

Nov 30 (Reuters) - Uqm Technologies Inc:

* ‍UQM TECHNOLOGIES- INITIAL TOTAL CAPITAL OF JOINT VENTURE WILL BE $24 MILLION, WITH UQM CONTRIBUTING $6 MILLION IN THREE INSTALLMENTS OVER NEXT YEAR ​

* ‍UQM TECHNOLOGIES SIGNS JOINT VENTURE AGREEMENT WITH CHINA NATIONAL HEAVY DUTY TRUCK GROUP CO., LTD.​

* ‍EXPECTED ANNUAL PRODUCTION CAPACITY OF JV IS 50,000 SYSTEMS AND IT PLANS TO COMMENCE OPERATIONS IN 2019​

* ‍UQM WILL BE A 25% PARTNER IN JOINT VENTURE WITH AN OPTION TO INCREASE ITS OWNERSHIP TO 33% AFTER FIRST YEAR OF OPERATION​ Source text for Eikon: Further company coverage:

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