VANCOUVER and INGOLSTADT, GERMANY , June 11, 2018 /CNW/ – Ballard Ability Systems (NASDAQ: BLDP; TSX: BLDP) today appear that the Aggregation has active a 3.5-year addendum to its accepted Technology Solutions arrangement with AUDI AG, allotment of the Volkswagen Group (Volkswagen AG, www.volkswagenag.com and AUDI AG, www.audi.com), extending the HyMotion affairs to August 2022 . The accumulated amount of the arrangement addendum is accepted to be C$80 -to-130 actor ( US$62 -100 million). The affairs will abutment Audi through its baby alternation accumulation launch.
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The HyMotion affairs encompasses automotive ammunition corpuscle assemblage development as able-bodied as arrangement architecture abutment activities. Ballard is focused on the architecture and accomplish of world-leading, next-generation ammunition corpuscle endless for use in Audi’s affirmation car program. Ballard engineers are arch analytical areas of ammunition corpuscle artefact architecture – including the film electrode accumulation (MEA), bowl and assemblage apparatus – forth with assertive testing and affiliation work.
Dr. Peter Mertens , Board Member for Abstruse Development at AUDI AG said, “Our accord with Ballard has enabled the dispatch of our automotive ammunition corpuscle program, by bringing calm ammunition corpuscle abilities and ability in both organizations. We accept developed affirmation cars application ammunition corpuscle technology and architecture from the HyMotion program, and are alive against a baby alternation accumulation launch.”
Randy MacEwen , Ballard President and CEO stated, “The abiding HyMotion affairs is a attestation to the charge that Volkswagen Group and Audi accept apparent against ammunition corpuscle electrification and their affiliation with Ballard. Ballard is committed to acknowledging Volkswagen and Audi’s accumulated ammunition corpuscle automotive goals and objectives. We accept the Ballard-designed ammunition corpuscle endless chip into Audi’s propulsion systems and cartage will bear outstanding automotive ammunition corpuscle performance, including accomplished ability density, lightest weight, accomplished backbone and able-bodied benumb alpha capabilities.”
Mr. MacEwen added, “The automotive industry is ability amazing transformation, apprenticed by electrification, aggregate advancement and autonomy. We accept aggregate advancement and freedom will fundamentally change commuter car appliance rates, with abundant best circadian ambit requirements and best hours of operation. We apprehend ammunition corpuscle electrification to abnormally accommodate the commuter agent bazaar with zero-emissions, low babble and bland dispatch while additionally affair continued circadian ambit and accelerated refueling requirements.”
Dr. Kevin Colbow , Ballard’s Vice President – Technology and Artefact Development commented, “Our awful accomplished aggregation of HyMotion engineers and scientists are accommodating carefully with Audi’s ammunition corpuscle adequacy center. We afresh completed a alternation of consistently appointed affairs amend affairs with Audi in Germany and can affirm that we abide on-track with account to our affairs goals.”
Ballard active an antecedent 4-year arrangement with Volkswagen AG in March 2013 , followed by a 2-year addendum in February 2015 , with the abounding 6-year arrangement appellation active to March 2019 . AUDI AG affected administration of the affairs in 2016.
Concept cars apery assorted Volkswagen and Audi cast models, and utilizing technology and apparatus developed through the HyMotion affairs with Ballard, accept been apparent at Detroit and LA Auto Shows over the accomplished several years. This has included the Golf SportWagen HyMotion, Passat HyMotion and Audi A7 Sportback h-tron quattro.
About AudiThe Audi Group, with its brands Audi, Ducati and Lamborghini, is one of the best acknowledged manufacturers of automobiles and motorcycles in the exceptional segment. It is present in added than 100 markets common and produces at 16 locations in twelve countries. 100 percent subsidiaries of AUDI AG accommodate Audi Sport GmbH (Neckarsulm), Automobili Lamborghini S.p.A. (Sant’Agata Bolognese, Italy ) and Ducati Motor Holding S.p.A. (Bologna, Italy ).
In 2017, the Audi Group delivered to barter about 1.878 actor automobiles of the Audi brand, 3,815 sports cars of the Lamborghini cast and 55,900 motorcycles of the Ducati brand. In the 2017 budgetary year, AUDI AG accomplished absolute acquirement of €60.1 billion and an operating accumulation of €5.1 billion. At present, about 90,000 bodies assignment for the aggregation all over the world, added than 60,000 of them in Germany . Audi focuses on acceptable articles and technologies for the approaching of mobility.
About Ballard Ability SystemsBallard Ability Systems (NASDAQ: BLDP; TSX: BLDP) provides apple-pie activity articles that abate chump costs and risks, and helps barter break difficult abstruse and business challenges in their ammunition corpuscle programs. To apprentice added about Ballard, amuse appointment www.ballard.com.
This absolution contains advanced statements apropos advancing development activities and after-effects as able-bodied as deliveries and deployments of our products. These advanced statements reflect Ballard’s accepted expectations as advised beneath area 27A of the Balance Act of 1933, as amended, and Area 21E of the Balance Exchange Act of 1934, as amended. Any such advanced statements are based on Ballard’s assumptions apropos to its banking forecasts and expectations apropos its artefact development efforts, accomplishment capacity, and bazaar demand.
These statements absorb risks and uncertainties that may account Ballard’s absolute after-effects to be materially different, including accepted bread-and-butter and authoritative changes, adverse assurance on third parties, auspiciously accomplishing our business affairs and accomplishing and comestible profitability. For a abundant altercation of these and added accident factors that could affect Ballard’s approaching performance, amuse accredit to Ballard’s best contempo Annual Information Form. Readers should not abode disproportionate assurance on Ballard’s advanced statements and Ballard assumes no obligation to amend or absolution any revisions to these advanced attractive statements, added than as appropriate beneath applicative legislation.
This columnist absolution does not aggregate an action to advertise or the address of an action to buy securities. The Ballard Common Shares accept not been registered beneath the United States Balance Act of 1933, as amended, or the balance laws of any added administration and may not be offered or awash in the United States absent allotment or an applicative absolution from allotment requirements.
View aboriginal content:http://www.prnewswire.com/news-releases/ballard-and-audi-sign-3-5-year-extension-to-long-term-program-for-fuel-cell-passenger-cars-300664335.html
SOURCE Ballard Ability Systems Inc.
View aboriginal content: http://www.newswire.ca/en/releases/archive/June2018/11/c6005.html
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