UQM Abandons Investment Effort With Chinese Company
Longmont, Colorado-based UQM Technologies, which develops high-efficiency electric motors, generators, and other components for the electric vehicle and other markets, has abandoned an investment deal with a Chinese company. According to UQM and would-be acquirer China National Heavy Duty Truck Group Co., Ltd. (CNHTC), the two have decided to "jointly explore other options" after an indication that the U.S. Committee on Foreign Investment in the United States will not support a second stage investment in UQM by CNHTC. The two had announced the investment deal in August of 2017. The CFIUS has shut down a significant number of investments in U.S. companies by Chinese companies over the last few years, over security and technology transfer concerns.
posted on Tuesday, May 15, 2018
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