Chinese companies invest in Ballard Power systems

Ballard Power Systems has announced today that it has entered into a strategic collaboration with Weichai Power, which includes a substantial equity investment of approximately $163 million, representing a 19.9 % interest in the company, and the establishment of a joint venture to support China’s burgeoning Fuel Cell Electric Vehicle market. The agreement includes as well a $90 million technology transfer program to the JV related to Ballard’s next-generation LCS fuel cell stack and power modules for bus, commercial truck and forklift applications in China, and a commitment by Weichai to build and supply at least 2,000 fuel cell modules for commercial vehicles in the country (as announced by Weichai today).

In addition, Zhongshan Broad-Ocean Motor – a current Ballard strategic investor and Chinese partner – has agreed to invest a further approximately $20 million to maintain its 9.9 % ownership position in Ballard. As a result, the Weichai and Broad-Ocean equity investments in Ballard will total approximately $183 million.

By |2018-08-29T18:20:45+02:00August 29th, 2018|General|Comments Off on Chinese companies invest in Ballard Power systems

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Freelance automotive journalist and consultant, author as well, focused on technologies and new trends for more than 25 years, convinced that hydrogen is one of the energies for the car of the future.

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