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UQM Investor Relations Presentation
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Transcript of UQM Investor Relations Presentation
INVESTOR PRESENTATION Spring 2013
INNOVATIVE SOLUTIONS FOR ELECTRIFYING VEHICLES
Forward-Looking Statements
This presentation contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements appear in a number of places in this presentation and include statements regarding our plans, beliefs or current expectations; including those plans, beliefs and expectations of our officers and directors with respect to, among other things, orders to be received under our supply agreement with CODA Automotive and Proterra, Inc., our ability to successfully develop additional products and further expand our manufacturing facilities and the continued growth of the electric-powered vehicle industry. Important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in our Form 10-Q filed January 31, 2013, which is available through our website at www.uqm.com or at www.sec.gov.
Our Vision
To create the world’s leading motor and controller systems for
hybrid and electric vehicles.
d
Source: International Energy Agency 2010 Global Market Transformation for Clean Energy Products
PROJECTED EVs/PHEV ON THE ROAD BY 2020 based on announced Electric Vehicle Initiative country goals
China France Germany Japan Spain Sweden United States
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 0.0
5.0
10.0
15.0
20.0
25.0
EV/P
HEV
Tot
al S
tock
(mill
ions
)
Significant Growth Anticipated
Making World Wide Headlines
China Announces $15B to fund Goal to Reach 5 Million EV/PHEV Output by 2020 EV Update, April 24, 2012
Global Electric Bus Market to Grow at 26% CAGR Until 2018 Peak Research(Navigant), August 22, 2012
Global Electric Vehicle Initiative Seeks to Deploy 20 Million EVs by 2020 Clean Energy Ministerial, April 25, 2012
Obama Plans to Have 1 Million EVs on the Road by 2015 State of the Union Address, January 11, 2011
Germany to Fund $1.4 Billion in EV Research and Development Bloomberg, May 11, 2011
Key Market Drivers
Improved Experience • Fun to drive • Better mileage • Lower operating costs • Quiet operation • Zero tail pipe emission
Political Will
• Country-specific clean vehicle goals
• Investment subsidies • Consumer incentives
Regulatory Push
• US CAFE standards • Global CO2 standards • CA mandate:
By 2025, 15.4% of new cars to be EV, Plug-in hybrid or Fuel Cells
EV Market Growth
UQM’s Strategic Priorities
Advance leading edge technology
Penetrate full range of EV markets
Develop global customer relationships
Cash flow positive and profitability
Strategic capacity growth
Phase II
Building the Foundation • R&D • Pilot programs
Market Penetration •Customers announced •Initial volume launches
Near-term Acceleration • Select strategic
customers • Volume ramps
Long-term Growth • Expand global OEM
reach • Mass market
penetration
Our Path to Success
Phase I
Phase III Phase IV
Phase II Phase III Phase IV
• Develop advanced propulsion technology
• Establish globally-recognized brand
• Low volume test production and pilot programs
• $45M DOE Grant
Building the Foundation
Phase I
Phase II Phase I Phase III Phase IV
• Initial volume customers – EVI, Proterra, Boulder EV
• Establish world class manufacturing facility
• Strengthen management team
• Solid balance sheet, liquidity
• Positive gross margins
Market Penetration
Phase III Phase I Phase II Phase IV
Near-term Acceleration
• Geographic expansion, Europe, China, etc.
• Select strategic customers – truck, bus, car
• Next-generation products to maintain leadership
• Potential capacity additions
• Profitability
Phase I Phase II Phase III
Long-term Growth
• Active in all EV/Hybrid markets
• Expand global OEM reach
• Strong revenue growth & volume ramps
• Ongoing and improving profitability
Phase IV
Recent Milestones Building Momentum
2010
2009
2011
2012
CODA 10yr Supply Agreement $45M Department of Energy Grant
EVI Trucks/Van Supply Contract Proterra Electric Bus Contract
CODA Shipments Audi A-1 e-tron EV Test Fleet Contract
Boulder EV Delivery Van Order (FedEx)
Audi A-1 e-tron 2nd Phase Build Hino Truck/Bus Contract EVI UPS Contract
2013 Audi A-1 e-tron EV expands Test Fleet Proterra EV Bus 3-year Supply Contract
Denver RTD Hybrid Bus Order
UQM PowerPhase® Electric Propulsion System
Delivering the Heart of the EV
Battery Pack On Board Charger
Battery Management System
UQM Motors and Controllers
New Products Innovative Technology
High Power Density
Greater RPM
Range
Higher Performance
High Efficiency
Permanent Magnet
Motor and Controller
Patented Adaptive Software Control
Smaller and Lighter Weight
Consumes Less Energy Longer Range
SYSTEM GREATER THAN SUM-OF-THE-PARTS
Passenger Vehicles
EV Plug-in Hybrid HEV
Extended Range
Commercial Vehicles
EV Plug-in Hybrid EV
Extended Range
New Products High Performance Products
• 100-135 kW peak motor power • 300-340 Nm peak torque • Fully optimized electric drive system
• 150-220 kW peak motor power • 650-700 Nm peak torque • Standard and high voltage variants
UP TO 94% TOTAL SYSTEM EFFICIENCY
Custom Hybrids
Series Parallel Plug-in Fuel Cell
New Products High Performance Products
• Customized solutions from 50-220 kW peak motor power • Fully integrated and optimized electric drive system
UP TO 94% TOTAL SYSTEM EFFICIENCY
Diverse Customer Base
R&D / Demo Test Programs
Production Launch
Trucks, Vans
Passenger Cars
Other
Buses
Production Customers
• Leading designer and manufacturer of transit buses • March 2013 three-year supply order • Announced capacity expansion to 400 buses/year • Sept 2010 initial order for electric buses • Completed 500K equivalent mileage municipality testing (Altoona)
• All-electric delivery vans and trucks • Deliveries underway for Jan 2012 order for 100 UPS vans • Follow-on orders expected upon completion of pilot program
• All-electric delivery vans • Began delivery of Dec 2012 FedEx order
• Aircraft HVAC systems • Began delivery in 2003 • Over 1,750 motor controller assemblies shipped to date
Production Customers Production Customers
• Freightliner trucks business class, International Truck & Engine HEV programs
• Began delivery in 2008 • DC-to-DC converters to power medium-duty hybrid trucks
• China’s largest, fastest growing non-affiliated car company • Potential relationship provides access to global markets
POTENTIAL CUSTOMER THROUGH CODA RELATIONSHIP
• All electric passenger vehicle • 10 year supply agreement • Awaiting funding to continue volume launch • Contract with Great Wall (Chinese EV mfg)
Development Customers
• All electric vehicle with range extender • Completed 2 test phases and begun 3rd test phase in 2013 • Test vehicles on the road • Vehicles at London Summer Olympics with German team
• Leading manufacturer of luxury automobiles • Testing for alternative drive trains • Powering the all electric 102EX Phantom
• Subsidiary of Toyota • Japanese manufacturer of diesel trucks, buses and other vehicles
worldwide • All electric city buses deployed in 2 locations in Japan • Expects more buses in service in 2013
World Class Manufacturing Facility
CURRENT MANUFACTURING FUTURE EXPANSION
• 130,000 Sq. Ft. facility in Colorado
• Annual capacity - 40,000 units
• Currently ISO 9001 certified
• TS 16949 certification underway
• Additional lines in current building ($1-$3M/line capex)
• 15 acres (already owned) available
• Expected funding from internal cash
Meet the Team
Eric Ridenour, President and CEO • Previously Chief Operating Officer, Chrysler and Board of Management, DaimlerChrysler • Previous roles at Chrysler- EVP of Engineering, VP of Premium Vehicle Team, VP of Product Planning
Don French, CFO • UQM financial executive for 25 years including Controller, Treasurer and CFO • Licensed Certified Public Accountant
Jon Lutz, VP Engineering • UQM Engineering executive for 19 years (Motors Design, Director of Engineering) • Inventor/co-inventor of several of UQM’s key patents
Adrian Schaffer VP Sales and Business Development • Previously VP, Sales for Linamar (global supplier to vehicle market) • Previously senior sales executive with Motorola focused on the vehicle market
Joe Mitchell, VP Operations • 25+ years experience in automotive sector focused on operations and quality control • 11 years hybrid experience with Continental, Siemens VDO and Ballard • Additional quality and manufacturing at Ford Motor Co.
Financial Snapshot
Strong Capital Position
Solid Balance Sheet
Minimal Near Term
Capex
Remaining DOE Grant
$6M Cash $18.4M Work Cap
$27M Equity
Less than $1M for volume expansion
$25M
Sufficient liquidity to reach
profitability
*Based on Q3 FY13 financial statements ending December 31, 2012.
*
Phase I Phase II
Phase III Phase IV
Building the Foundation • DOE Grants • Low volume test
production
Market Penetration •Establish manufacturing facility •Current customer launches •Cost offset by grants
Near-term Acceleration •Capex driven by new customer demand •Cost offset by grants
Long-term Growth •Multiple global ramps •Expand manufacturing capacity
Capex Requirements
Profitability
Potential Accelerated Profitability
The Road to Profitability
Driving to Profitability
Emerging markets with strong growth Leading products Seasoned management team Global customer base Well capitalized
INNOVATIVE SOLUTIONS FOR ELECTRIFYING VEHICLES