Daimler AG is majority stake holder in new 'Automotive Fuel Cell Co-operation'

Nicholas Speeks, President and CEO of DaimlerChrysler Middle East, said: "Daimler has identified future fields of activity and key technologies for zero-emission mobility, and invested specifically in expanding its competencies in these fields. This majority stake in "Automotive Fuel Cell Co-operation" is the next consequent step in this direction."

With the newly founded company, Daimler's globally leading position in automotive fuel cell applications is to be further expanded together with Ford Motor Company and Ballard Power Systems.

A pioneer in fuel cell technology, Daimler introduced the world's first fuel cell vehicle as early as 1994. Today, the company owns the world's largest fuel cell fleet of all automakers - with over 100 vehicles - and has thus gained the greatest experience in this field.

The fleet has covered over 3.7 million kilometers in everyday operation at customers to date. Daimler expects fuel cell vehicles to reach maturity for large-scale production between 2012 and 2015 and will start producing a small series of B-Class F-Cell cars as early as 2010.