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Ballard selling electric drive operations to Siemens VDO
Ballard Power Systems has reached an agreement to sell their electric drive operations to Siemens VDO. Ballard indicated back in October their intention to get out of that business and focus on fuel cells. Apparently motor operations were causing a financial drain on the company of about $10 million a year. Ballard will be netting about $4 million for the sale and plans to continue working with Siemens on future fuel cell development programs. [Source: Ballard Power Systems] ... Read more →
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Ballard selling electric drive operations to Siemens VDO 2 years ago on Autoblog Green
Ballard Power Systems has reached an agreement to sell their electric drive operations to Siemens VDO. Ballard indicated back in October their intention to get out of that business and focus on fuel cells. Apparently motor operations were causing a financial drain on the company of about $10 million ...
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