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Ballard strikes deal with leading automakers

VANCOUVER, B.C. -- Ballard Power Systems has received a boost, thanks to a $732 million deal from DaimlerChrysler a...


VANCOUVER, B.C. — Ballard Power Systems has received a boost, thanks to a $732 million deal from DaimlerChrysler and Ford.

The deal makes Ballard a global leader in the race toward producing a clean-engine alternative.

As a result of the deal, Ballard acquires Xcellsis GmbH from DaimlerChrysler and Ecostar Electric Drive Systems LLC from Ford.

The two automakers, in return, will receive Ballard shares.

"Ford, DaimlerChrysler and Ballard have just taken a step forward in bringing products to the market that could change the landscape of the automotive industry," says Ford vice-chairman Wayne Booker.


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