Siemens VDO Automotive Corp. acquires Ballard Power Systems Inc.â€™s electric drive system business.
The C$4 million ($3.5 million) deal is expected to be final early next year. It involves Ballardâ€™s research, development and manufacturing operations in Dearborn, MI, affecting about 80 â€śhighly specializedâ€ť personnel, Siemens says.
Those employees will join Siemens VDOâ€™s powertrain electronics and drivetain division, which is making a play for a larger share of the hybrid vehicle business.
The acquisition positions Siemens VDO to better compete in the global hybrid vehicle market, estimated to be worth $14 billion by 2015.
Meanwhile, as auto makers advance their development of hydrogen-powered vehicles, Canada-based Ballard is focusing more intently on its goal of bringing fuel cell stacks to market by 2010.