October 25, 2020

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Ballard Feedback on China’s New Plan to Guidance Adoption of Fuel Mobile Electrical Autos

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VANCOUVER, BC, Sept. 21, 2020 /CNW/ – Ballard Electricity Methods (NASDAQ: BLDP) (TSX: BLDP) today pointed out that China’s authorities has declared a new formal plan about Gasoline Mobile Electrical Automobiles, or FCEVs, which is envisioned to aid the adoption of FCEVs in picked demonstration regions in China.   

Ballard Power Systems Logoca (CNW Group/Ballard Power Systems Inc.)
Ballard Power Devices Logoca (CNW Group/Ballard Power Methods Inc.)

“With a concentrate on to reach 1 million Fuel Mobile Electric powered Vehicles on China’s streets by 2030, this new fuel cell coverage sets a framework for the scaled adoption of FCEVs,” said Randy MacEwen, Ballard President and CEO. “We feel this new coverage signifies the strategic worth China locations on FCEVs both equally from a decarbonization point of view as well as a competitive industrial perspective. The new plan arrives just as the Weichai-Ballard joint undertaking has been recently commissioned in Shandong Province with once-a-year production potential in excessive of 1 Gigawatt of gasoline cell stacks. We believe the Weichai-Ballard joint enterprise is well positioned to come to be a major gasoline mobile stack and module system in China – the world’s major current market for business trucks and buses.”

Mr. MacEwen continued, “We are ever more transitioning to a carbon-controlled planet. With 66 countries saying web zero carbon targets for 2050, there are now about 20 nations – collectively representing somewhere around 70% of world wide GDP – that have announced hydrogen procedures or roadmaps as key planks of their decarbonization strategies. As element of this motion policymakers and sector are prioritizing the decarbonization of medium- and hefty-obligation motive applications, like bus, truck, rail and marine. Fuel mobile technology offers a zero-emission technologies pathway for these difficult-to-abate mobility use conditions that function heavy payload and have necessities for lengthy variety and rapidly refueling. We are happy to see China’s priority on stimulating the adoption of zero-emission business vehicles, together with buses and vans, working with gas cell know-how. We are also pleased that the policy framework is set for the upcoming four yrs.”

Ballard’s technological know-how enjoys significant share of the about 7,200 FCEVs deployed in China to date. Ballard has been executing an intense marketplace approach considering that closing a strategic collaboration settlement with Weichai Power Co., Ltd. (“Weichai https://en.weichaipower.com/) in November 2018, which provided the establishment of a joint enterprise – owned 51% by Weichai and 49% by Ballard – for the creation and assembly of Ballard’s next-generation gasoline mobile stacks and modules for use in China’s bus, truck and forklift marketplaces. Weichai also built an equity investment decision in Ballard, using a 19.9% ownership situation at that time. The joint undertaking is situated in a recently made Weichai facility with around 225,000 sq. toes and has a staff of approximately 180 workforce.

Ballard will provide additional context on the new coverage at its approaching Investor and Analyst Working day 2020 on September 29, 2020, with even more information available here.

About Ballard Power Programs
Ballard Power Systems’ (NASDAQ: BLDP TSX: BLDP) eyesight is to deliver fuel mobile electrical power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, together with buses, commercial trucks, trains, marine vessels, passenger autos, forklift trucks and UAVs. To find out far more about Ballard, remember to stop by www.ballard.com.

This release is made up of forward-hunting statements concerning long run occasions or developments, including the closing of the declared transaction, the efficiency of the joint venture, anticipated item enhancement attempts and product effectiveness, client benefits and current market desire for our items. These forward-hunting statements mirror Ballard’s present anticipations as contemplated less than part 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Trade Act of 1934, as amended. Any these types of ahead-hunting statements are primarily based on Ballard’s assumptions relating to its economical forecasts and anticipations with regards to its product improvement attempts, producing ability, and market demand.

These statements require pitfalls and uncertainties that may lead to Ballard’s precise effects to be materially unique, like normal economic and regulatory variations, harmful reliance on third functions, effectiveness challenges associated to present joint enterprise and partners, productively achieving our small business ideas and attaining and sustaining profitability. For a comprehensive dialogue of these and other threat variables that could influence Ballard’s upcoming efficiency, remember to refer to Ballard’s most new Annual Details Type. Viewers should really not place undue reliance on Ballard’s forward-searching statements and Ballard assumes no obligation to update or release any revisions to these forward-seeking statements, other than as expected below applicable legislation.

This press release does not represent an supply to offer or the solicitation of an provide to purchase securities. The Ballard Prevalent Shares have not been registered beneath the United States Securities Act of 1933, as amended, or the securities guidelines of any other jurisdiction and may not be available or bought in the United States absent registration or an relevant exemption from registration requirements.

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Watch primary articles to download multimedia: https://www.newswire.ca/en/releases/archive/September2020/21/c0424.html

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