Investor Presentaiton
WEICHAI
潍
柴
Weichai / Ballard Joint Venture¹
31
History: Strategic collaboration established in 2018, located at Weifang City, Shandong Province. Ballard brings
world class PEM fuel cell technologies and Weichai has global supply chain and commercial scale industrial
manufacturing expertise.
Development:
.
Established GIGA SHANDONG ONE Manufacturing Facility for localized stack & module production
Floor space: 310,000 sq ft. & annual capacity: 34,000 stacks (>1.2GW equivalent) & 20,000 modules
Exclusive licensed manufacturer of LCS fuel cell stacks & LCS-based modules in China
•
Weichai / Ballard JV has ~200 employees as of September 2022
Structure:
Weichai has 51% working interest / Ballard has 49% interest in the JV
Ballard is the exclusive supplier of MEAs to the JV
(Ballard sells MEAs from Canada - 51% of MEA revenue is recognized upon sale to JV)
Weichai BLDP JV assembles stacks and modules for the bus and truck market for sale into China market
(upon sale of stack / module, remaining 49% of MEA revenue is recognized by Ballard)
Weichai Power has 100,000 global employees, $25B USD 2022E Revenue, #1 HD global engine sales, 2nd largest
Chinese HD Truck sales, 3rd largest Chinese exporter of HD Trucks, vertically integrated with strong OEMs including
Bus: Zhongton Bus Holdings, Asiastar, Howo; Truck: Sinotruk, Shacman, SDAC
1 See Slide Notes
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