DETROIT -- Ford Motor and Daimler are winding down a joint venture formed to develop automotive fuel cell technology, Ford said on Wednesday, as both companies plan to take their respective fuel cell technology development in-house.
The Automotive Fuel Cell Cooperation Corp. venture, based in Burnaby, British Columbia, will close this summer, Ford said in response to an inquiry by Reuters.
Despite years of research and investment by major automakers and startups, vehicles powered by fuel cells remain a tiny niche in the global vehicle market.
Honda and General Motors are collaborating on fuel cell development, and Toyota is ramping up efforts to mass-produce fuel cell stacks. Earlier this week, Ballard Power Systems extended a contract with Volkswagen Group's Audi unit to work on fuel cell development.
Ford "will take fuel cell stack development in-house, as well as leverage the supply base, and close Automotive Fuel Cell Cooperation Corp. by summer 2018," the company said. "Both companies will continue to explore ways to cooperate on developing fuel cell stack modules."
Daimler CEO Dieter Zetsche earlier this year indicated that the German automaker was shifting its focus toward battery-electric vehicles.
The venture employed about 200 people, according to its website.