) VDO Automotive Corp. has recently signed an agreement to acquire Ballard Power Systems Inc.’s Electric Drive Business.
Located in Dearborn, Mich., Ballard Power Systems Corp. is a subsidiary of Ballard Power Systems Inc. The company develops and manufactures electric drive technology for fuel cell vehicles.
Projected to be completed in early 2007, the acquisition will include Ballard Power Systems Corp.’s research, development and manufacturing operation in Dearborn, impacting approximately 80 highly specialized personnel.
Siemens VDO Group Vice President Dr. Klaus Egger believes this acquisition elevates Siemens VDO’s hybrid business to a new dimension, thereby securing a more competitive position for the company and its employees.
Dr. Egger said that by becoming part of Siemens VDO, this acquisition will place them in a better position to capitalize on new business opportunities in the $14 billion (by 2015) global hybrid electric vehicle market.
The acquired location will reportedly serve as the organizations’ North American Center of Expertise for the advancement of power electronics, motor design and systems for electrical drives for customer hybrid and fuel cell vehicle applications.
Ballard Power Systems Inc.’s president and CEO John Sheridan looks forward to work with Siemens VDO on next-generation fuel cell vehicle development programs together with their Alliance partners, DaimlerChrysler AG and Ford Motor Co.
Sheridan finds Siemens VDO’s considerable electrical engineering expertise to be an excellent fit with the Dearborn electric drive business.
“The agreement is representative of Siemens VDO's strategy of growing our core competencies in areas, such as power electronics,” said Siemens VDO President and Chief Executive Officer – The Americas John Sanderson in a press release
He continued: “This will allow us to bring sharper focus to our core competency, ensuring we remain on the cutting edge of this business segment.”
Siemens VDO Automotive, a group of Siemens AG, is a global supplier of electronics and mechatronics for the automotive industry.
Anuradha Shukla is a contributing editor for TMCnet, covering call centers, CRM and information technology. To see more of her articles, please visit her columnist page.