08:53:15 EST Mon 29 Nov 2021
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Ballard Power Systems Inc
Symbol BLDP
Shares Issued 297,082,350
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FP/wire say Ballard hears Great Wall's hydrogen plans

2021-03-30 09:28 ET - In the News

The Financial Post reports in its Tuesday edition that Great Wall Motor, China's biggest maker of sport-utility vehicles, plans to roll out its first hydrogen-powered SUV this year. A Bloomberg dispatch to the Post says that the company will also deploy its hydrogen-powered cars during the Winter Olympics in China next year. Great Wall has invested two billion yuan ($305-million (U.S.)) over the past five years to develop hydrogen-power-related technologies that can be used for vehicles as well as marine and rail transport. Founder Wei Jianjun added that Great Wall will invest another three billion yuan over the next three years and plans to become a top-three seller of hydrogen-powered automobiles by 2025. "Development of the hydrogen-related industry will move forward as quickly as that for electric vehicles," Mr. Wei said. The company last month said it will work with Beijing-based Horizon Robotics to develop intelligent driving technologies. The nascent hydrogen-vehicle market globally is dominated by companies such as Toyota Motor and Ballard. Electric-vehicle pioneer Elon Musk has famously dismissed hydrogen cars as "mind-bogglingly stupid," arguing that EVs have a lock on green transport.

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