Colorado companies sign deal for 150 electric bus motors
Two Colorado companies — UQM Technologies and Proterra Inc. — have signed a one-year deal to get electric buses on the road.
Longmont-based UQM (NYSE: UQM) said Tuesday the company has signed a one-year agreement with Golden’s Proterra for 150 of UQM’s electric propulsion systems. The motors will be used in Proterra’s electric transit buses.
Deliveries, totalling $627,500, are expected to begin in October. Additional, optional deliveries covered in the agreement could raise the contract value to more than $1 million, UQM said.
Proterra is building its buses in Greenville, S.C. Proterra plans to build more than 1,500 electric buses per year, and have 1,300 employees, in five years.
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