UQM Technologies Inc (NYSEMKT:UQM) which is a $120 million market capped Industrial Electrical Equipment manufacturer has seen its stock take an over 41 percent increase in its stock value during just one day of trading yesterday. This has sent its valuation 17 percent above its previous best price point in the past 12 months. The surge in the investor confidence happened on the back of announcement by the firm that the tech firm has been awarded the prestigious ISO/TS 16949 Certification which is purportedly the highest industry recognized quality standard and is acknowledged even by the automotive manufacturers association.
The ISO/TS 16949:2009 is a quality certification which is most sought after in the automobile manufactures from the world over, and UQM Technologies Inc (NYSEMKT:UQM) can successfully use the same all along its supply chain.
Sought After By Automotive Majors
This latest achievement makes UQM Technologies even more competitive for new business with global automakers of all size and volume including the likes of Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Toyota Motor Corp (ADR)(NYSE:TM) insisting on the certification from its subcontractors, in order to maintain stringent quality parameters across its supply chain and prevent any costly recalls as is being witnessed with General Motors Company (NYSE:GM) currently, due to faulty ignition setup. The certification covers those areas of manufacturing which include design, engineering and assembly line setups.
Expressing his happiness at the successful certification process and its attendant advantages for his firm, Eric R. Ridenour who serves as the President, Chief Executive Officer, Chief Operating Officer, Director of UQM Technologies Inc (NYSEMKT:UQM) has been quoted to have said that, “After a rigorous, year-long process, attaining the ISO/TS 16949 registration is a significant achievement and a critical step in our progression in the industry to position UQM as a world class supplier of electric drive components and systems. We have not only validated the quality of our operation, but also demonstrated our commitment to meeting the demands and expectations of customers.”