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Ballard Comments on China's New Policy to Support Adoption of Fuel Cell Electric Vehicles
Ballard Comments on China's New Policy to Support Adoption of Fuel Cell Electric Vehicles...
About this update from Ballard Power Systems Inc.
[{"type":"text","content":"Ballard-CmmntChina\n \n \n \n Ballard Comments on China's New Policy to Support Adoption of Fuel Cell Electric Vehicles\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Sept. 21, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Sept. 21, 2020\n \n /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today noted that\n \n China's\n \n government has announced a new official policy regarding Fuel Cell Electric Vehicles, or FCEVs, which is expected to support the adoption of FCEVs in selected demonstration regions in\n \n China\n \n .\n \n \n \n \n \n \n \n \n \n \"With a target to achieve 1 million Fuel Cell Electric Vehicles on\n \n China's\n \n roads by 2030, this new fuel cell policy sets a framework for the scaled adoption of FCEVs,\" said\n \n Randy MacEwen\n \n ,\n \n Ballard President\n \n and CEO. \"We believe this new policy signifies the strategic importance\n \n China\n \n places on FCEVs both from a decarbonization perspective as well as a competitive industrial perspective. The new policy comes just as the Weichai-Ballard joint venture has been recently commissioned in\n \n Shandong Province\n \n with annual manufacturing capacity in excess of 1 Gigawatt of fuel cell stacks. We believe the Weichai-Ballard joint venture is well positioned to become a leading fuel cell stack and module platform in\n \n China\n \n – the world's largest market for commercial trucks and buses.\"\n \n \n Mr. MacEwen continued, \"We are increasingly transitioning to a carbon-regulated world. With 66 countries announcing net zero carbon targets for 2050, there are now about 20 countries – collectively representing approximately 70% of global GDP – that have announced hydrogen strategies or roadmaps as key planks of their decarbonization plans. As part of this movement policymakers and industry are prioritizing the decarbonization of medium- and heavy-duty motive applications, including bus, truck, rail and marine. Fuel cell technology offers a zero-emission technology pathway for these hard-to-abate mobilit...