Retreat From Automotive Fuel Cells
Ballard Power Systems' main objective is to develop fuel-cell technology. Previously, Ballard had its focus within the automobile market, and fleet services, as well as co-generation systems and the manufacture of materials for the fuel-cell sector. However, in late 2007, Ballard pulled out of the hydrogen vehicle sector of its business to focus on fuel cells for forklifts and stationary electrical generation. The company sold its automotive fuel cell assets to Daimler AG and Ford Motor Company. Research Capital analyst Jon Hykawy concluded that Ballard saw the industry going nowhere and said: "In my view, the hydrogen car was never alive. The problem was never, "Could you build a fuel cell that would consume hydrogen, produce electricity, and fit in a car?" The problem was always, "Can you make hydrogen fuel at a price point that makes any sense to anybody?" And the answer to that to date has been "No."
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