Ballard selling electric drive operations to Siemens VDO
Filed under: EV/Plug-in, Hydrogen
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]
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Reader Comments (Page 1 of 1)
12-21-2006 @ 11:53AM
Tim said...
There is currently much more federal research (our tax) money available for Hydrogen fuel cell research than BEV/PHEV. That is slowly changing as people realize the truth abut the Hydrogen Economy fantasy/fiction. http://www.oilcrash.com/articles/h_scam.htm. I wonder how much weight this federal funding into Ballard’s decision to focus on Fuel Cells.
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12-23-2006 @ 5:13PM
CM said...
Ballard selling their electric drive devision is like GM selling their GMAC devision. In both cases, it is the only company division that is profitable, therefore it is the only division that they can sell at a substantial profit.
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12-28-2006 @ 11:40AM
Tim said...
A terrorist’s dream is to have a giant tanker of Hydrogen parked next to a big fat target. Spilled bio-diesel (or electricity for that matter) is less toxic to the environment than salt or sugar.
“Hydrogen may be considered to be one of the most destructive gases to escape into the atmosphere. It will destroy ozone in an irreversible process, reduce oxygen levels and produce water vapor in the stratosphere.” http://www.ozone-depletion.com/. Hydrogen is a very small molecule.
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