UQM Technologies

About UQM Technologies

In 1967, long before the mainstream electric vehicle movement, a company called Unique Mobility was founded in Colorado. Initially producing dune buggies, the company soon pivoted towards the future, exploring electric motors and creating an early all-electric vehicle called the 'Electrek' in the 1970s. This early work laid the foundation for what would become UQM Technologies, a key developer of electric motors, generators, and controllers for a wide range of vehicles. Throughout the 80s and 90s, UQM established itself not as a consumer car brand, but as a critical technology partner. The company supplied propulsion systems for prototype projects with major names like BMW, General Motors, and even Rolls-Royce. It developed a reputation for power-dense and efficient permanent magnet motors, becoming an essential, if quiet, player in the background of vehicle electrification, from military vehicles and city buses to a Boeing fuel-cell-powered aircraft. A major turning point arrived in July 2019, when the Danish engineering giant Danfoss announced it would acquire UQM Technologies for approximately $100 million. The acquisition was a strategic move for Danfoss, integrating UQM's expertise in motors up to 250kW to complement its own high-power electric drivetrain systems. By becoming part of Danfoss Power Solutions, UQM gained the resources of a global enterprise, cementing its technology's place in the growing international market for electric and hybrid vehicles.