. DaimlerChrysler and Ford acquire Ballard's Fuel
Cell System Business
Important step in the
reorganization of the fuel cell alliance between Ballard,
DaimlerChrysler and Ford
DaimlerChrysler and
Ford acquire Ballard Power Systems AG in Nabern and establish the
joint venture NuCellSys GmbH
NuCellSys GmbH will
continue with the development of fuel cell systems
Stuttgart - DaimlerChrysler
AG and Ford Motor Company are today officially taking over the fuel cell
system business of the Canadian company Ballard Power Systems Inc. The
transaction's main feature is the acquisition of Ballard Power Systems AG
in Nabern, Germany. DaimlerChrysler and Ford are establishing a joint
venture in which both manufacturers will own equal shares. Known as
NuCellSys GmbH, the joint venture with headquarters in Nabern will work
closely with Ballard to forge ahead with the development of fuel cell
systems.
The acquisition of the fuel
cell system business represents an important step in the reorganization of
the alliance between Ballard, DaimlerChrysler and Ford with the aim of
bringing fuel cell drive systems to the series production stage. In the
acquisition agreement signed on June 23, 2005, Ballard, DaimlerChrysler
and Ford settled the details of the transaction, which puts the
cooperation between the alliance partners on a new footing. The
shareholders of Ballard Power Systems approved the acquisition agreement
on August 29, 2005.
In addition to reorganizing
the systems business, DaimlerChrysler and Ford will be focusing on ways to
best integrate fuel cell drives into vehicles, while Ballard will continue
to develop and manufacture fuel cells and electric drives for fuel cell
vehicles. The reallocation of tasks will allow the alliance partners to
focus on their respective areas of expertise.
