UQM Technologies Announces Order From Chitron, Inc. for Propulsion System to Power Hybrid Electric Urban Bus in China

FREDERICK, Colo., Aug. 24, 2006 -- UQM TECHNOLOGIES, INC. (AMEX:UQM) , a developer of alternative energy technologies, announced today that its permanent magnet propulsion motors and generator will power a hybrid electric bus being developed for service in China.

"We are pleased that Chitron, Inc. has selected UQM(R) propulsion systems for this advanced vehicle development program. The Chinese market is expanding at a rapid rate and the potential commercialization of this hybrid electric bus in that market represents a significant opportunity for our Company," said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc.

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 propulsion systems for electric, hybrid electric and fuel cell electric vehicles, 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. For more information on the Company, please visit its worldwide website at www.uqm.com.