VW Buys Ballard Fuel-Cell Tech to Boost Clean-Car Push
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Volkswagen AG bought fuel-cell technology from Ballard Power Systems Inc. in a deal worth as much as $112 million to advance the German automaker’s development of clean-running vehicles.
Ballard will transfer automotive-related patents to VW for $50 million and will provide engineering services through March 2019, the Canadian technology company said today in a statement. Ballard shares surged the most in almost two years.