VANCOUVER, BC and
GUELPH, ON, May 3, 2021
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX:
BLDP) and Linamar Corporation (TSX: LNR) today announced the
formation of a strategic alliance for the co-development and sale
of fuel cell powertrains and components for class 1 and 2 vehicles,
weighing up to 5-tons, initially in North
America and Europe.
With emission regulations, zero-emission vehicle mandates and
low emission zones in-place in many jurisdictions around the world,
there is a key imperative to find truly green end-to-end solutions
that combine zero-emission operation with zero-emissions fuel
sources. Fuel Cell Electric Vehicles (FCEVs) are an answer to that
challenge.
In particular, there is growing demand for FCEVs that can
operate on long duty cycles – without payload compromise – and be
rapidly refueled in order to maximize fleet utilization.
In the initial phase of work under a Framework Agreement, a fuel
cell powertrain solution will be developed, with Ballard providing
the fuel cell subsystem and Linamar providing the rolling chassis,
tanks, enclosures, cradles and other balance of plant needs as well
as final assembly. Following successful testing of the
demonstration platform, Ballard and Linamar contemplate the
formation of a joint venture to sell and support powertrains with
fuel cell systems and an interchangeable rolling chassis for use in
a range of light-duty class 1 and 2 vehicles, including passenger
cars, SUV's, light trucks and commercial vans.
"The establishment of this partnership to commercialize
solutions for light duty vehicles using Fuel Cell technology is
transformative for the future of mobility and combines the global
technology leadership of two great Canadian businesses," said
Linamar CEO Linda Hasenfratz, "Our
Plug and Play concept will make the evolution from Battery Electric
Vehicles to FCEV seamless and drive real change in terms of
environmental sustainability."
Randy MacEwen, Ballard President and CEO added, "We are excited
to form a strategic alliance with Linamar, a leading global
manufacturer of precision products and powertrain system solutions
that is leaning into the future of zero-emission mobility. In
addition to our existing joint working relationship on the recently
announced UPS delivery vans trial in California, we now deepen our collaboration
based on a joint vision to provide zero-emission fuel cell
powertrains for light-duty vehicles, particularly those that
require long range, extended duty cycle and rapid
refueling."
About Ballard Power Systems
Ballard Power Systems'
(NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for
a sustainable planet. Ballard zero-emission PEM fuel cells are
enabling electrification of mobility, including buses, commercial
trucks, trains, marine vessels, passenger cars and forklift trucks.
To learn more about Ballard, please visit www.ballard.com.
About Linamar Corporation
About Linamar: Linamar
Corporation (TSX:LNR) is an advanced manufacturing company where
the intersection of leading-edge technology and deep manufacturing
expertise is creating solutions that power vehicles, motion, work
and lives for the future. The Company is made up of two operating
segments – the Industrial segment and the Transportation segment,
both global leaders in manufacturing solutions and world-class
developers of highly engineered products. The Industrial segment is
comprised of Skyjack and MacDon. Skyjack manufactures scissor, boom
and telehandler lifts for the aerial work platform industry. MacDon
manufactures combine draper headers and self-propelled windrowers
for the agricultural harvesting industry. The Transportation
segment is subdivided into three regional groups: North America, Europe and Asia
Pacific. Within the Transportation segment, the regional
groups are vertically integrated operations combining expertise in
light metal casting, forging, machining and assembly for both the
global electrified and traditionally powered vehicle markets. The
Transportation segment products are focused on both components and
systems for new energy powertrains, body and chassis, driveline,
engine and transmission systems of these vehicles. McLaren
Engineering provides design, development, and testing services for
the Transportation segment. Linamar has over 26,000 employees in 61
manufacturing locations, 12 R&D centres and 25 sales offices in
17 countries in North and South
America, Europe and
Asia which generated sales of
$7.4 billion in 2019. For more
information about Linamar Corporation and its industry leading
products and services, visit www.linamar.com or follow us on
Twitter at @LinamarCorp.
This release includes forward-looking statements regarding
Linamar. Such statements are based on the current expectations and
views of future events of the Company's business. In some cases,
the forward-looking statements can be identified by words or
phrases such as "may", "will", "expect", "plan", "anticipate",
"intend", "potential", "estimate", "believe" or the negative of
these terms, or other similar expressions intended to identify
forward-looking statements. The forward-looking events and
circumstances discussed in this release may not occur and could
differ materially as a result of known and unknown risk factors and
uncertainties affecting Linamar, including risks regarding economic
factors and many other factors beyond the control of the Company.
No forward-looking statement can be guaranteed. Forward-looking
statements and information by their nature are based on assumptions
and involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or industry results, to be materially different from
any future results, performance or achievements expressed or
implied by such forward-looking statements. These and other risks
and uncertainties, as well as other information related to the
Company, are discussed in the Company's various public filings
available on SEDAR and can be accessed at www.sedar.com.
Accordingly, readers should not place undue reliance on any
forward-looking statements or information. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
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SOURCE Linamar Corporation