Daimler AG Makes Fuel Cell Investment

With a share of 50.1 percent, Daimler AG is the majority stakeholder in “Automotive Fuel Cell Cooperation”, a company founded today for fuel cell applications in the automotive sector.
With the newly founded company, the globally leading position in automotive fuel cell applications is to be further expanded together with Ford Motor Company and Ballard Power Systems.
Ballard Power Systems transfers its automotive division to the new company to be able to concentrate on the marketing of stationary fuel cell applications.
Dr. Thomas Weber, member of the board of management of Daimler AG with responsibility for group research as well as for development within Mercedes-Benz Cars said: “At Daimler, we have identified the future fields of activity and key technologies for zero-emission mobility, and we invest specifically in expanding our competencies in these fields.
“Our majority stake in ‘Automotive Fuel Cell Cooperation’ is the next consequent step in this direction.”
With numerous patents and 150 highly specialized employees, Automotive Fuel Cell Cooperation is the technology leader in automotive fuel cell stacks.
The new company is to be a guarantor for the successful further development of automotive fuel cell technology and will closely cooperate with the research and development departments of the automakers involved.
Daimler expects fuel cell vehicles to reach maturity for large-scale production between 2012 and 2015 and will start producing a small series of B-Class F-Cell cars as early as 2010.