UQM and Meritor to develop new electric axle systems for commercial vehicles

UQM

Motor maker UQM Technologies (NYSE MKT: UQM) and Michigan-based Meritor have signed a 30-month development agreement for E-axle technology. Meritor will develop integrated axle components, which will be combined with UQM’s motor and inverter technology and hardware to create a new product called the Meritor and UQM Electric Axle System for the medium- and heavy-duty commercial vehicle markets.

“This [agreement] allows UQM to focus on design and development and in turn approach the market as a Tier 2 supplier with a proven Tier 1 OEM,” said Joe Mitchell, CEO of UQM. “We believe this relationship gives Meritor the opportunity to become a leading supplier of E-axles using UQM’s technology, allowing customers to benefit from integrated solutions that drive cost savings in the long term.”

The companies expect prototypes to be ready by early fall of 2017.

 

Source: UQM Technologies