Ford Motor Co and Daimler AG are winding down a joint venture formed to develop automotive fuel cell technology, Ford said on Wednesday, as both companies plan to take their respective fuel cell technology development in-house.
The Automotive Fuel Cell Cooperation Corp venture, based in Burnaby, British Columbia, will close this summer, Ford said in response to an inquiry by Reuters.
Despite years of research and investment by major automakers and startups, vehicles powered by fuel cells remain a tiny niche in the global vehicle market. Honda Motor Co and General Motors Co are collaborating on fuel cell development, and Toyota Motor Corp is ramping up efforts to mass-produce fuel cell stacks.
Earlier this week, Ballard Power Systems Inc extended a contract with Volkswagen AG’s Audi unit to work on fuel cell development. Read More
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