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Daimler and Ford are setting up a new company that will take over the Ballard Corporation's work on automotive fuel cells.

The new company, to be called Automotive Fuel Cell Cooperation, will be 50.1 per cent owned by Daimler, with Ford holding a 30 per cent stake and Ballard the remaining 19.9 per cent.

Ballard, based in British Columbia, Canada, will concentrate its own efforts on the research and marketing of fuel cells for non-automotive applications. Ford and Daimler will transfer their existing stakes in the Ballard company to the new corporation.

Dr Herbert Kohler, Daimler's vice president in charge of advanced vehicle and powertrain engineering, said: "With the newly founded company, we strengthen our leading position in the field of fuel cell technology and go full steam ahead in our preparations for the series production of fuel cell cars."