Siemens VDO to acquire Ballard Power Systems' electric drive business
Siemens VDO Automotive Corp. recently signed an agreement to acquire Ballard Power Systems, Inc. 's electric drive business located in Dearborn, MI. Ballard Power Systems Corp., a subsidiary of Ballard Power Systems Inc., develops and manufactures electric drive technology for fuel cell vehicles.
"This acquisition elevates Siemens VDO's hybrid business to a new dimension, thereby securing a more competitive position for the company and its employees," said Siemens VDO group vice president Klaus Egger.
The Dearborn location will serve as the North American center of expertise for the advancement of power electronics, motor design and systems for electrical drives for customer hybrid and fuel cell vehicle applications.
"Together with our alliance partners, DaimlerChrysler AG and Ford Motor Co ., we look forward to working with Siemens VDO on next-generation fuel cell vehicle development programs," said Ballard Power Systems, Inc.'s president and CEO John Sheridan.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey