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Accelerating Transport to Zero Emissions
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Thu 08 November 2007 View all news
Daimler and Ford have set up a joint venture to pursue development of emission-free fuel cells for cars and trucks as an alternative to petrol engines. The two companies have bought Ballard Power Systems’ automotive fuel cell business, including numerous patents and 150 employees. Daimler and Ford were previously shareholders in Ballard, which pioneered fuel cell development in the 1990s, but has struggled to come up with a commercially viable system for mass production. Ballard has so far produced only about 130 cars, trucks and buses. Daimler will own 50.1 per cent of the venture and Ford 30 per cent. Ballard will hold the remaining shares covered by a purchase or sale option agreement with Ford. Each of the three partners will contribute $60m to the venture. Several other global car makers are also pressing ahead with fuel cell research as part of their drive for alternative propulsion technologies.
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