UQM Technologies streamlines setup

LONGMONT – UQM Technologies Inc., a company that designs and develops electric motors and propulsion systems, announced Friday it is restructuring its management setup.

UQM (NYSE Amex: UQM) previously was split in two entities. UQM Technologies Inc. focused on product development, and UQM Power Products Inc., a wholly owned subsidiary of UQM Technologies, handled the company’s manufacturing.

The two functions will be joined, and the current executives will remain in place.

The reorganization will not lead to staff cuts. UQM is recruiting additional engineers and other personnel to meet increased customer demand for its products, it said in a press release announcing the changes.

“This organizational change is key to our transition to high-volume production of our electric-drive systems and to developing new customers,” chief executive Eric Ridenour said in a press release. “This new alignment of resources enables the company to operate more efficiently and helps UQM to focus on the development of next generation products, continue to improve manufacturing processes and reduce cost and more aggressively pursue additional sales of our production-validated electric-propulsion systems.”

UQM has a contract to deliver up to 40,000 electric motors to CODA Automotive, which is building a plug-in electric sedan. It also is supplying motors to test fleets for automakers such as SAAB, Audi and Rolls Royce.

UQM’s headquarters and production plant are located in a 129,000-square-foot building east of Longmont in unincorporated Weld County.

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