VANCOUVER—Fuel cell company Ballard Power Systems Inc. is set to receive a cash injection of more than $175 million in what it calls a “transformative strategic collaboration” with a Chinese automotive and equipment manufacturer.
Weichai Power has signed a deal to acquire a 19.9 percent stake in Ballard for $163 million and establish a joint venture in China with the Canadian firm. The agreement will make it the fuel cell firm’s largest shareholder.
