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Iacocca Bullish on Electric Bikes, Scooters in Speech at Unique Mobility Annual Shareholder Meeting

20 August 1997

Iacocca Bullish on Electric Bikes, Scooters in Speech at Unique Mobility Annual Shareholder Meeting

    GOLDEN, Colo., Aug. 20 -- Former Chrysler Chairman Lee
Iacocca plans to have an electric-powered bicycle on the market by June of
next year.  Speaking Tuesday at the annual meeting of the shareholders of
Unique Mobility, Inc. (Amex: UQM), Iacocca, Unique's largest shareholder, said
the potential U.S. market for electric bikes could exceed one million units a
year.
    "There are 100 million bikes in the country, most of them hanging in
garages," Iacocca told shareholders.  "Ten million new bikes are sold every
year in the U.S.; ten percent of that market would be a million electric
bikes."
    Unique Mobility will manufacture electric motors and electronic controls
for Iacocca's bike.  The bike frame will be made by Giant Bicycle of Taiwan.
In June, Iacocca's new company, EV Global Motors of Los Angeles, became
Unique's largest shareholder, acquiring a 12 percent stake in the Golden,
Colorado, based company.
    Iacocca predicted that electric bikes and scooters would catch on before
electric cars.  "I've spent 50 years in the auto industry, putting one and
sometimes two cars in a lot of garages.  Now we need to replace one of these
cars with an electric car.  It my take a while to get the right battery but I
believe it will happen.  In the meantime, we'll start with bicycles and
scooters to lead the electric revolution," Iacocca said.
    He called Unique's prototype four-passenger electric-powered commuter car,
developed with Italian car designer, Pininfarina, "the best electric car I've
ever driven."  In the past year, Unique has demonstrated the Ethos 3 EV for
automakers in the U.S., Asia and Europe.

    Unique to Make Motors For New Power Wheelchair

    Meantime, Unique will soon begin making electric motors for a new power
wheelchair to be marketed by Ohio-based Invacare Corporation ,
the world leader in home health care and mobility products for people with
disabilities.
    Under an agreement announced earlier this month, Unique will manufacture
motors for the new line of wheelchairs.
    Invacare Senior Vice President, J. B. Richey, like Iacocca a Unique board
member, told shareholders, "Invacare has long sought a compact, high
performance, high efficiency wheelchair motor that is quiet and smoothly
responsive to operator control.  As a result of its relationship with Unique
Mobility, Invacare now has such a motor.  We believe it's an unprecedented
technical innovation in power wheelchair propulsion."
    Unique Chairman Ray A. Geddes told shareholders the Company's alliances
with Iacocca and Invacare mark a turning point in the Company's history.
"We're moving rapidly from an R&D-driven company to a company with commercial
products in two markets -- electric bikes and scooters and power wheelchairs."
    To mark Unique Mobility's fifth anniversary as a listed company on the
American stock Exchange, Geddes was presented with a crystal plaque from the
Amex's Manager of Corporate Relations, Douglas D. McKenney.
    Unique Mobility is one of the world's leading developers of energy
efficient electric and hybrid electric vehicle systems.  It is a Golden,
Colorado, based engineering concern and manufacturer of high efficiency
permanent magnet motors and controls for automotive, aerospace and industrial
applications.  For more information on the Company, please visit our world
 wide web site at http://www.uqm.com.
    This release contains forward-looking statements that involve risks and
uncertainties.  The Company's actual results could differ materially from
those discussed in this release.  Factors that could cause or contribute to
such differences include, but are not limited to, those discussed in the
Company's Registration Statement on Form S-3 (file no. 23843).  These forward-
looking statements represent the Company's judgment as of the date of this
release.  The Company disclaims, however, any intent or obligation to update
these forward-looking statements.

SOURCE  Unique Mobility, Inc.