Roth Capital Keeps Ballard Power (BLDP) at 'Buy' Amid New Audi Orders
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Volkswagen Group & Audi Accelerate Fuel Cell Technology Solutions Program With Ballard
September 26, 2016 4:30 PM EDTVANCOUVER and INGOLSTADT, Germany, Sept. 26, 2016 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) today announced that automotive OEM Audi AG has issued purchase orders to Ballard to accelerate certain key development activities under the current long-term Technology Solutions program that Volkswagen Group has with Ballard.
As announced by Ballard in a February 11, 2015 press release, the current 6-year engineering services contract with Volkswagen Group runs to March 2019, with an optional 2-year extension beyond that date. The contract has an estimated value of C$100-140 million (approximately US$80-112 million... More
