Daimler AG to become majority stake holder in new ”Automotive Fuel Cell Cooperation”

Vancouver, Canada – With a share of 50.1 percent, Daimler AG is the majority stake holder 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: “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.

Prof. Dr. Herbert Kohler, Vice President with responsibility for Advanced Vehicle and Powertrain Engineering within Group Research as well as being the Chief Environmental Officer of the Daimler Group:

“The “Automotive Fuel Cell Cooperation” will serve as a Think Tank and will orient its activities even more intensively to the specific requirements we make on fuel cell stacks. With the newly founded company, we pursue the aim of strengthen our leading position in fuel cell development and going full steam ahead in our preparations for the large-scale production of fuel cell cars.”