Friday, April 1, 2011

UQM Technologies In Realignment

Longmont, Colorado-based UQM Technologies, the developer of high efficiency electric motors targeting the electric auto market, said today that it is in a "realignment" and streamlining of its structure. The firm said it has consolidated its two businesses, previously focused on production and product development, into a single company. The firm said the new company will be divided into Finance, operations, Engineering, and Sales and Business Development groups. Details on the impact of the realignment were sketchy, however, the firm claimed it is currently recruiting additional engineers and personnel.