The board of directors of Unique Mobility Inc. (Golden, CO) has approved a name change of the company name to UQM Technologies Inc. The name change, if ratified by the company's shareholders at a special meeting of shareholders scheduled for January 24, 2001, will become effective immediately thereafter.
In addition, the company's wholly-owned subsidiary, Franklin Manufacturing Company (St Charles, MO), will change its name to UQM Electronics Inc. and Unique Power Products Inc. (Frederick CO) will become UQM Power Products Inc. The company's common stock will continue to trade on the American, Chicago, Pacific, Frankfurt and Berlin stock exchanges under the symbol UQM.
“We believe this name change better reflects the substance of our company as a technology leader for state-of-the-art, high-efficiency electric motor, generator and electronic control systems for the alternative energy technologies sector including electric, hybrid electric and fuel cell electric vehicles and distributed power applications," Unique's President and CEO, William G. Rankin, said. “The markets served by our family of companies extends well beyond mobility products and we believe the name UQM Technologies will better convey to our current and future customers our organization's capability to apply our advanced technology to enhance the performance of their products."
