US: Siemens VDO to acquire Ballard Power Systems' electric drive business

摘要

AS part of its strategy of growing its core competencies in areas such as power electronics, Siemens VDO Automotive has agreed to acquire the electric drive business of Ballard Power Systems Corporation. Dearborn, Michigan-based Ballard Power Systems Corporation, a unit of Ballard Power Systems Incorporated of Canada, develops and manufactures electric drive technology for fuel cell vehicles. In October, Ballard indicated that it was evaluating strategic options with respect to these operations, including divesting or restructuring to improve its financial performance.