Ballard Power Systems Inc. (USA) (NASDAQ: BLDP) and Toyota Motor Corp (ADR) (NYSE: TM) trading firm, Toyota Tsusho Corporation, reached an agreement on distribution that
will run through 2020. Accordingly, Toyota Tsusho will be a distributor of Ballard's fuel cell products in Japan.
Ballard indicated its intention to hire an expatriate sales person in Japan who will coordinate with Toyota Tsusho to execute a
joint sales action plan.
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President and CEO Randy MacEwen commented, "This agreement with Toyota Tsusho Corporation represents an exciting development for
Ballard and important progress in the execution of our strategy in Japan. Toyota Tsusho is a large-scale player in Japan and around
the globe, with interests in diverse areas and access to the tremendous network of Toyota Group Companies across a wide range of
end-markets."
Similarly, Toyota Tsusho believes that the extent of its business interest provided an extensive range of promising
opportunities in the field of hydrogen fuel cell technology.
At time of writing, Ballard Power Systems was up 18.78 percent on the day at $2.34.
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