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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells -- Ignore unavailable to you. Want to Upgrade?

To: Hawkeye who wrote (2532)	5/6/1998 11:04:00 AM
From: David E. Smith	Respond to of 5827

Here's a DJ article that I hadn't seen before, it's 2 weeks old. "Daimler Seeks Japanese Partner In Bid To Develop Fuel-Cell Engine By G. Thomas Sims, Staff Reporter 04/21/98 Dow Jones Online News (Copyright (c) 1998, Dow Jones & Company, Inc.) FRANKFURT -(Dow Jones)- Daimler-Benz AG, Germany's largest industrial group, is seeking a Japanese automotive partner for its fuel-cell engine project, a company official told Dow Jones Newswires Tuesday. The fuel-cell project was enlarged earlier in April to include Ford Motor Co (F), based in Dearborn, Mich. Daimler has been working closely with Ballard Power Systems Inc. (BLDPF) of British Columbia for several years to develop the zero-emission motors, and the current trio is aiming to sell the engines by 2004. "It will take us more than a year to find out how to work effectively together," said Ferdinand Panik, senior vice president at Daimler and head of the fuel-cell project. "Combining companies like Ford, Ballard and Daimler takes some time." "After one year, we will take an additional partner from Japan," Panik said. Daimler (DAI) wouldn't say which Japanese firms were likely candidates. Japan's Toyota Motor Corp. (TOYOY) and Detroit-based General Motors Corp. (GM) are two companies working on similar technology, but neither is likely to join Daimler. Asked whether Toyota is a name that Daimler is considering for the expansion of the pact, Panik would only say that Toyota is a "good competitor" and that it is important for the success of the project to also have "good and strong competitors." The Daimler-Ford-Ballard venture aims to free cars from petroleum-based fuels and would require an industrywide shift in technology. For this reason, it is necessary that the project be approached on a global level, Panik said. Daimler already has invested around one billion marks ($555 million) in the project. Ford's participation has brought in another $420 million. Daimler and its partners will spend the next year trying to bring down the costs of the motor, which includes reducing the amount of platinum the cells need. Fuel cells function by combining hydrogen and oxygen to produce electricity in the presence of platinum. At the end of 1999, Daimler's management will study the feasibility of the project and give final approval for production. Daimler hopes to produce 40,000 motors in 2004. Ford has said that it wants to produce around 100,000 cars powered by fuel cells by 2004. -G. Thomas Sims, 4969 25616500; tsims@ap.org