Item 8.01 Other Events

In November 2007, UQM Technologies, Inc. (the "Company") filed an arbitration claim with the American Arbitration Association ("AAA") against Phoenix MC, Inc., as successor by merger to Phoenix Motorcars, Inc. ("Phoenix") seeking damages for Phoenix's breach of the Purchase and Supply Agreement between Phoenix and the Company dated January 12, 2007. The matter was heard by an AAA arbitration panel (the "Panel") in December 2008. On February 24, 2009, the AAA notified the Company of the Panel's findings that Phoenix had materially breached the Agreement and awarding monetary damages to the Company in the amount of $5,309,648.97. In addition, the Panel awarded the Company post-award interest at the rate of 10 percent per annum on the unpaid amount of the award subsequent to February 6, 2009. At this time, whether, to what extent, and when the Company will be able to collect the award from Phoenix is uncertain.