From Detroit Free Press

Ballard Power Systems has confirmed that it is in discussions with Daimler AG and Ford Motor Co. about the possible sale of its automotive fuel cell assets.

In a news release issued Sunday, the Vancouver, Canada-based advanced battery technology company confirmed a report by Reuters that Ballard officials were "reviewing strategic alternatives with regard to its automotive fuel cell assets."

Ballard, a longtime leader in the field of fuel cell technology, said no deal has been reached.

Company officials at Ballard said there is no certainty that negotiations will be successful or, if they are successful, that definitive agreements will be reached. The company also said it won't comment while negotiations are ongoing, but Ballard will provide an update when talks are concluded.

Two years ago, then-Ballard CEO Dennis Campbell was in Detroit touting the fact that a hydrogen economy was on the horizon and that fuel cells would likely replace the internal combustion engine.

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