Ballard Ponders Sale of Automotive Fuel Cell Business Unit

VANCOUVER, CANADA - Ballard Power Systems Inc.has confirmed that it has been reviewing strategic alternatives with regard to its automotive fuel cell assets due to the lengthy projected timeline to commercialization and high cost of development. Ballard is currently in negotiations with Daimler AG and Ford Motor Company with regard to one of the options under consideration.

Ballard said that there can be no assurance that the negotiations will be successful or, if they are successful, that definitive agreements will be reached. Ballard does not intend to comment any further while negotiations are being conducted, but will provide an update on completion of negotiations.

(Source: Ballard Power Systems Inc.)