UQM Technologies Names Donald W. Vanlandingham to Board of Directors

FREDERICK, Colo., May 21, 2003 -- UQM Technologies, Inc. (AMEX:UQM) , a developer of alternative energy technologies announced today the appointment of Donald W. Vanlandingham to the Company's Board of Directors. Mr. Vanlandingham's appointment fills a slot vacated by J.B. Richey, who stepped down to pursue other business interests. Following the appointment, the size of the Company's Board of Directors is five members.

Prior to his retirement at the beginning of 2003, Mr. Vanlandingham served as Chairman of Ball Aerospace & Technologies Corporation, a wholly-owned subsidiary of Ball Corporation. He was President and Chief Executive Officer from 1996 to 2002 and served in a variety of other senior management capacities during his 36-year tenure with Ball including Executive Vice President of Operations and Vice President of Electro-Optical Subsystems. Mr. Vanlandingham holds a Bachelor's Degree in Electrical Engineering from Oklahoma State University and a Master's Degree in Electrical Engineering from Columbia University.

"We are pleased that Don has accepted a seat on our Board of Directors," said William G. Rankin, President and Chief Executive Officer of UQM Technologies. "Don's experience as a senior executive in a highly technical business, such as his leadership role in overseeing the development of the COSTAR instrument that remedied a much publicized flaw in the principal mirror of the Hubble Space Telescope, will bring additional technical judgment and business acumen to our Board. In addition, his extensive knowledge of the aerospace industry will be valuable in identifying additional applications for our highly efficient electric motor and electronic control technology."

UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, military and industrial markets. A major emphasis of the Company is developing products for the alternative energy technologies sector including power systems for battery hybrid and fuel cell electric vehicles, 42 volt under-the-hood power accessories and other vehicle auxiliaries and distributed power generation applications. The Company's headquarters, engineering and product development center and motor manufacturing operation are located in Frederick, Colorado. Its electronic products manufacturing facility is located in St. Charles, Missouri. For more information on the Company, please visit its worldwide website at www.uqm.com.

This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements appear in a number of places in this press release and include statements regarding our plans, beliefs or current expectations, including those plans, beliefs and expectations of our officers and directors with respect to, among other things, the development of markets for our products. Important risk factors that could cause actual results to differ from those contained in the forward-looking statements include our ability to be profitable, our ability to obtain additional financing, our reliance on major customers and suppliers, our ability to commercialize our products and the possibility that product liability insurance may become available to us.