Ballard says fuel cells not worth it, confirms rumors it's selling automotive unit

Ballard Power Systems, one of the larger fuel cell companies, confirmed rumors they are in talks to sell their automotive fuel cell assets to Daimler AG and Ford Motor Company. Ballard says the negotiations are not complete or assured but Daimler already owns 18.7 percent of Ballard and Ford owns another 11.2 percent; the stock jumped 18 percent Monday.

Why are they selling? Ballard says the reason is "lengthy projected timeline to commercialization and high cost of development." A statement like that coming from a major fuel cell company just may mean the end of politicians standing in front of fuel cell cars talking about a hydrogen future.

[Source: Ballard Power Systems via Reuters]

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