VW Buys Ballard Hydrogen Fuel-Cell Tech to Boost Clean-Car Push
Christoph Rauwald | Bloomberg Business | February 11, 2015
VW follows Toyota's lead towards clean, green fuel cell tech Credit: VW
Bloomberg -- Volkswagen AG bought fuel-cell technology from Ballard Power Systems Inc. in a deal worth as much as $112 million to advance the German automakers development of clean-running vehicles.
Ballard will transfer automotive-related patents to VW for $50 million and will provide engineering services through March 2019, the Canadian technology company said today in a statement. Ballard shares surged the most in almost two years.
We are securing crucial expertise that will provide new impetus for the further development of this technology, Ulrich Hackenberg, the development chief of Volkswagens Audi unit, said in a statement. Audi plans to make the technology available to other Volkswagen brands, which include Porsche, Bentley and Lamborghini.
Ballard stock rose as much as 59 percent to $2.68, the biggest gain since March 2013. Fuel cells create electricity in the chemical reaction that creates water from the combination of hydrogen and oxygen. The technology offers prospects for zero-emission vehicles with longer ranges than current electric cars...MORE
http://www.bloomberg.com/news/articles/2015-02-11/vw-buys-ballard-fuel-cell-tech-to-boost-clean-car-push
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VW, Toyota, Hyundai, Honda and Mercedes
vs.
PT Barnum wannabee/Boy Wonder/Clown Elon "Enron" Musk and his money losing rich mans car company (take tax money from the poor and middle class to subsidize $100,000 cars for the rich? Why not?). TSLA has crashed almost $100/share in the last 5 months. The more Elon "Enron" speaks, the more Wall Street cringes. Who needs P/E anyway. Who will fund the GiggleFactory when Musk runs out of money? TSLA Shareholders? Maybe Elon can find someone to sue.
Time will tell...
Elon speaks and TSLA heads for the floor. "For Realz!"
PS: Owning a Tesla is awesome until you get into an accident
http://www.teslamotorsclub.com/showthread.php/39325-Owning-a-Tesla-is-awesome-until-you-get-into-an-accident
And there's the fact that owners can't work on their own cars. So, sell before the warranty expires! Or after the 3rd drive unit is replaced- whichever comes first.
http://www.teslamotorsclub.com/showthread.php/29834-Drive-Unit-Replacement-Poll