Daimler AG and Ford Motor Co. will form a new joint venture, dubbed Automotive Fuel Cell Cooperation, centered on the former automotive division of Ballard Power Systems.

With a 50.1% share, Daimler will be the majority stakeholder in the new company. Ford will hold a 30% stake and Ballard the remaining 19.9%. AFCC will be managed by Daimler and Ford.

In setting up the JV, Daimler and Ford will retransfer their total stakes in Ballard to AFCC, while Ballard transfers its automotive division to the new company.

AFCC, which will employ 150 people, will focus on furthering the development of automotive fuel-cell technology.

Herbert Kohler, vice president-advanced vehicle and powertrain engineering and chief environmental officer of Daimler, says the JV will “orient its activities even more intensively to the specific requirements we make on fuel-cell stacks.

“With the newly founded company, we strengthen our leading position in the field of fuel-cell technology and go full steam ahead in our preparations for the series production of fuel-cell cars,” Kohler says.

Gerhard Schmidt, Ford vice president-Research and Advanced Engineering, echoes Kohler, saying the fuel cell remains one of the most “viable solutions to develop a sustainable, zero-emissions vehicle.”

The company will be headed by Andreas Truckenbrodt, a former Ballard employee who currently serves as executive director-hybrid development at Daimler.

AFCC will operate out of Ballard’s facilities in Vancouver, BC, Canada, a Ford spokesman says.