Ballard Chief Downplays Proposed California ZEV Rule Changes
VANCOUVER, Dec 17 (Reuters) - Ballard Power Systems Inc.'s chief executive says investors are wrong if they think the fuel cell developer has been hurt by a planned change in California's so-called "zero-emission vehicles" program.
Stock in Ballard has dropped by about 20 percent since U.S. regulators said in early December they wanted to reduce the number of battery-powered cars they will mandate on the state's roads and expand California's clean air requirements to include use of other technologies.
Fuel cells use hydrogen to create an electrochemical reaction. They are seen as environmentally friendly because, when using certain fuel sources, the only emissions are heat and water.
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