Tuesday, November 6, 2007

Ballard wants out of fuel cells for cars; investors smile

Another sign that fuel cells for cars are history. Ballard Power systems, long time fuel cell hot shot, wants out of the automotive fuel cell business.

The Globe and Mail of Toronto reports
that Ballard is hoping to unload this part of the business on Daimler and Ford, which already own 19% and 11% of Ballard respectively. Once viewed as a business worth billions, soon, it will be interesting to see what Daimler and Ford might be willing to pay.

Investors have spoken. Ballard shares are up 10.5% on the news.

Autobloggreen and After Gutenberg have more to say about it.

Of course years ago Geoffrey Ballard said:
"I doubt I will ever see a hydrogen car for personal consumption in a
showroom. I said this years ago and see no reason to change my mind:
The family-owned, garaged vehicle is the last vehicle that's going to
get a fuel cell. "


As the price per barrel goes beyond $97, one story in the NY Times reports:
•Bombing in Afghanistan kills 64.
•Attack on pipeline in Yemen.
•Domestic oil inventory to fall.
•Severe weather forecast for North Sea. Oil platforms evacuated.
•Dollar weak.
•Severe weather shuts Mexican ports, disrupts oil supply to US.