September 2, 2005

DaimlerChrysler and Ford taking over Canadian fuel cell business

Stuttgart, Germany – DaimlerChrysler AG and the Ford Motor Company have officially taken 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, NuCellSys GmbH, in which both manufacturers will own equal shares. The venture’s headquarters in Nabern will work closely with Ballard to develop fuel cell systems.

In addition to reorganizing the systems business, the automakers will focus on ways to best integrate fuel cell drives into vehicles, while Ballard will continue to develop and manufacture fuel cells and electric drives. The reallocation of tasks will allow the alliance partners to focus on their respective areas of expertise.

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