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Ballard Receives $19.2M Order from Weichai-Ballard JV for MEAs to Power Fuel Cell Electric Vehicles in China
Ballard Receives $19.2M Order from Weichai-Ballard JV for MEAs to Power Fuel Cell Electric...
About this update from Ballard Power Systems Inc.
[{"type":"text","content":"\n\n\n\nBallard Receives $19.2M Order from Weichai-Ballard JV for MEAs to Power Fuel Cell Electric Vehicles in China\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\nCanada NewsWire\nVANCOUVER, Dec. 16, 2019\n\n\n\nVANCOUVER, Dec. 16, 2019 /CNW/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced receipt of a purchase order from Weichai Ballard Hy-Energy Technologies Co., Ltd. (\"Weichai-Ballard JV\") for Membrane Electrode Assemblies (MEAs) valued at $19.2 million, to be delivered in 2020 under a long-term MEA supply agreement. \n\n \n \n\n \nWeichai Power Co., Ltd. (\"Weichai Power\"; http://en.weichaipower.com/) is an investor in, and strategic partner with, Ballard. Under terms of a strategic collaboration between the companies that closed on November 13th, 2018, Weichai Power holds a 51% ownership position and Ballard holds a 49% ownership position in the Weichai-Ballard JV. The Weichai-Ballard JV production facility, located in Shandong Province, China, is expected to be commissioned and operational in the first half of 2020.\nOnce operational, the Weichai-Ballard JV production facility will begin the manufacture of next-generation LCS fuel cell stacks and LCS-based modules to power Fuel Cell Electric Vehicles (FCEVs) for the China market. The Weichai-Ballard JV is expected to have initial production capacity of 20,000 fuel cell stacks, or 10,000 modules, based on a two-shift operation.\nRandy MacEwen, Ballard President and CEO said, \"We have a simple shared vision with Weichai Power for our Weichai-Ballard JV – to create the leading fuel cell stack and module technology and manufacturing operation in China for buses, commercial trucks and forklifts. We are making measured progress on this vision. In 2019, together with Weichai, we staffed up the JV, co-developed fuel cell products for the China market, substantially completed construction of the JV manufacturing facility, progressed on our manufacturing equipment, processes and automation, initiated localization of the supply chain, and supported initial vehicle testing.\" \nThe MEA purchase...