Chinese electric motor firm acquires 10% of Ballard Power Systems
Chinese electric motor manufacturing firm, Zhongshan Broad-Ocean Motor (Broad-Ocean), has acquired 9.9% of Canadian fuel cell manufacturer, Ballard Power Systems, for $28.3m. The announcement comes just days after Ballard signed a distribution deal with Toyota. The goal of the Broad-Ocean deal is to lower the cost of fuel cell engines, and their integration into fuel cell vehicles.

Ballard Power Systems and Zhongshan Broad-Ocean Motor will work together on market and product development to create hydrogen fuel cell vehicles including cars, busses and commercial vehicles. Photo: Submitted