Siemens VDO completes Ballard electric-drive purchase

Feb. 16, 2007
Siemens VDO Automotive Corp. yesterday officially completed its acquisition of Ballard Power Systems Inc.'s Electric Drive Business

Siemens VDO Automotive Corp. yesterday officially completed its acquisition of Ballard Power Systems Inc.'s Electric Drive Business, located in Dearborn, MI. Siemens VDO said the move solidifies its long-term commitment to the hybrid electric vehicle market and further electrification of the powertrain.

"This is a great day for Siemens VDO, as the Ballard Electric Drive acquisition is representative of Siemens VDO's strategy for growing our core competencies in alternative powertrain areas, such as hybrid electronics," said Siemens VDO president & CEO John Sanderson. "By becoming part of Siemens VDO, Ballard and its valuable, highly skilled employees will be in a position to capitalize on new business opportunities in the $14 billion (by 2015) global hybrid market."

The Ballard Power System Corp. Dearborn-based employees will join Siemens VDO's Powertrain Electronics and Drivetrain division. The company noted the Dearborn location will serve as its “North American center of expertise for the advancement of power electronics, motor design and electrical drive systems” for hybrid and fuel-cell applications.

The acquisition gives Siemens VDO complete access to the 66,000-sq-ft R&D and manufacturing operation in Dearborn. Approximately 80 highly specialized personnel will be integrated into the organization.

As a subsidiary of Siemens VDO, the Dearborn operation will help the company gain access to a broader range of new business opportunities within the global hybrid electric-drive market, according to Sanderson. He said the acquisition also demonstrates Siemens VDO's commitment to helping the U.S. reduce its dependency on foreign oil; reinforces the company's commitment to sustainability through its own practices; and also helps customers address their own sustainability needs.

Siemens VDO is an international automotive electronics and mechatronic supplier. It is a business unit of Germany-based Siemens AG.

For more information, go to www.siemensvdo.com.

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