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.