FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940

____Check this box if no longer subject to Section 16. Form 4 or Form 5 
obligations may continue.  See Instruction 1(b)

1.  Name and Address of Reporting Person

    French, Donald Anthony
    425 Corporate Circle
    Golden, CO  80401

2.  Issuer Name and Ticker or Trading Symbol

    Unique Mobility, Inc. (UQM)

3.  IRS or Social Security Number of Reporting Person (Voluntary)

    ###-##-####

4.  Statement for Month/Year

    March 1997

5.  If Amendment, Date of Original (Month/Year)

    N/A

6.  Relationship of Reporting Person to Issuer

    Officer:  Treasurer


TABLE I-Non-Derivative Securities Acquired, Disposed Of, or Beneficially Owned

1.  Title of Security (Instr. 3)

    Line 1 - Common Stock


2.  Transaction Date (Month/Day/Year)

    Line 1 - March 31, 1997

    
3.  Transaction Code (Instr. 8)

    Line 1 - Code: M; V: Voluntary

        
4.  Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)

    Line 1 - Amount: 962 Shares; (A) or (D): Acquired; Price: $2.82 Per Share
    
    
5.  Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4)

    56,141 Shares Indirectly by a Limited Partnership of which Mr. French
    is the General Partner, and 8,000 Shares Indirectly by a Trust for the
    Benefit of Mr. French

6.  Ownership Form:  Direct (D) or Indirect (I) (Instr. 4)

    All Holdings are Indirect

7.  Nature of Indirect Beneficial Ownership (Instr. 4)

    Limited Partnership of which Mr. French is the General Partner and 
    Trust for the Benefit of Mr. French


TABLE II-Derative Securities Acquired, Disposed Of, or Beneficially Owned  
         (e.g., Puts, Calls, Warrants, Options, Convertible Securities)

1.  Title of Derivative Security (Instr. 3)

    Line 1 - Call Option

2.  Conversion or Exercise Price of Derivative Security

    Line 1 - $2.82 Per Share

3.  Transaction Date (Month/Day/Year)

    Line 1 - March 31, 1997

4.  Transaction Code (Instr. 8)

    Line 1 - Code: M; V: Voluntary

5.  Number of Derivative Securities Acquired (A) or Disposed of (D)
    (Instr. 3, 4 and 5)

    Line 1 - Disposed of Call Option as to 962 Shares


6.  Date Exercisable and Expiration Date (Month/Day/Year)

    Line 1 - Date Exercisable: March 31, 1997; 
             Expiration Date: March 31, 1997

7.  Title and Amount of Underlying Securities (Instr. 3 and 4)

    Line 1 - Title: Common Stock; Amount or Number of Shares: 962 Shares


8.  Price of Derivative Security (Instr. 5)

    Line 1 - N/A

9.  Number of Derivative Securities Beneficially Owned at End of Month
    (Instr. 4)

    Call Options as to 308,058 Shares Were Beneficially Owned by Mr. French at
    March 31, 1997

10. Ownership Form of Derivative Security:  Direct (D) or Indirect (I) 
    (Instr. 4)

    The Ownership Form of All Derivative Securities is Indirect
    
11. Nature of Indirect Beneficial Ownership (Instr. 4)

    Limited Partnership of which Mr. French is the General Partner

Explanation of Responses:  None    

**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.  See 18 U.S.C. 1001 and 15 U.S.C.  78ff(a)


/s/Donald A. French                                     April 4, 1997
**Signature of Reporting Person                         Date