Ballard sells automotive assets to Ford and Daimler
Research Money, November, 2007 by Anonymous
Ballard Power Systems Inc is exiting the automotive fuel cells business with the sale of its automotive-related assets to Ford Motor Co and Daimler AG for between $95 million and $105 million. The move is expected to reduce the Burnaby BC-based company's R&D burn rate by $15 million annually as it shifts focus to other commercial applications such as fork lifts and power back-up systems. Automotive fuel cell development will continue via a new private company to be located at Ballard's facilities. It will be 50.1% owned by Daimler, with Ford taking a 30% share and Ballard owning a 19.9% share. Daimler and Ford will contribute $60 million. Ballard will match that amount but will not be obligated to provide ongoing funding. It will receive rights to use automotive intellectual...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
