Status: Withdrawn and Abandoned

Acquirer: Hybrid Kinetic Group Limited (Hong Kong SAR, China)

Acquired: UQM Technologies, Inc. (US)

Value: Approx. US$48 million

Industry:  Automotive; Electric Vehicles

Concept_CarUPDATE:  On December 27, 2016, UQM Technologies, Inc. announced that on December 26, 2016 it terminated the Stock Issuance and Purchase Agreement with Hybrid Kinetic Group Limited, which had been issued on June 28, 2016 and amended and restated on September 26, 2016.  (See UQM Technologies Press Release, QM Technologies Announces Termination of Stock Purchase Agreement with Hybrid Kinetic Group, Form 8-K, Ex-99.1, Dec. 27, 2016.)   The parties had originally “submitted their draft joint voluntary notice to CFIUS on October 3, 2016.”  (UQM Technologies Schedule 14A, Oct. 6, 2016, SEC Filing.)

Posted October 12, 2016

Status: Upcoming/New Filing

In an October 6, 2016 SEC filing, Colorado based UQM Technologies, Inc., will issue and sell to American Compass, Inc., a California corporation and wholly owned U.S. subsidiary of Hybrid Kinetic Group Limited, a Bermuda company headquartered in Hong Kong and publicly traded on the Hong Kong Stock Exchange (Stock Code: 01188), 66.5 million newly issued shares of UQM Technologies’ common stock for an aggregate purchase price of US$47,880,000, following which Hybrid Kinetic will indirectly own, through American Compass, approximately 58% of the UQM Technologies or 54% on a fully-diluted basis.  (See UQM Technologies’ Schedule 14A SEC Filing (Oct. 6, 2016) here.)  According to the filing, the “parties submitted their draft joint voluntary notice to CFIUS on October 3, 2016,” and CFIUS approval is a condition to closing.  The deal was originally announced by the parties on June 28, 2016.

UQM Technologies, “a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors for the commercial truck, bus, automotive, marine, military and industrial markets. (See aforementioned UQM Technologies Press Release dated June 28, 2016.)

Hybrid Kinetic Group is “engaged in natural resources business; development and manufacturing of lithium-ion power battery; and development and manufacturing of hybrid vehicles.”

UQM’s partnership with Hybrid Kinetic Group is expected to bring UQM “capital, infrastructure and access to the China market, the largest electric vehicle market in the world.”  (See aforementioned UQM Technologies Press Release dated June 28, 2016.)