UQM withdraws efforts for second stock deal with Chinese firm

LONGMONT — UQM Technologies Inc., a maker of components for the electric-motor industry, said Wednesday that it will withdraw efforts on a second-stage investment from a company in China.

Longmont-based UQM Technologies (NYSE: UQM) and China National Heavy Duty Truck Group Co., Ltd. are no longer pursuing a stock-purchase by China National after the federal government’s Committee on Foreign Investment in the United States informed UQM that it likely would not approve the $28.3 million stock-purchase agreement that was signed by both parties in August of last year.

China National will…