Ballard Power Systems Enters LOI With Ford Trucks To Supply Fuel Cell System

(RTTNews) - Ballard Power Systems (BLDP) announced the signing of a letter of intent with Ford Trucks to supply a fuel cell system as part of the development of a hydrogen fuel cell powered vehicle prototype. The partnership includes an initial purchase order for 2 FCmove-XD 120 kW fuel cell engines that are planned to be delivered by Ballard to Ford Trucks in 2023.

Ford Trucks plans to develop a Fuel Cell Electric Vehicle F-MAX as part of the project. Ford Trucks plans to build and assemble the fuel cell-powered F-MAX in Turkey and aims to commence European Ten-T corridor demonstrations in 2025 as part of the European Union's Horizon Europe ZEFES project goals. As per the LOI, upon the successful completion of the development program, Ballard may be named as the preferred supplier for the serial production of the fuel cell-powered F-MAX.

Shares of Ballard Power Systems are up 5% in pre-market trade on Thursday.