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Ford, Daimler to dissolve fuel cell venture

Ford Motor Co. and Daimler AG will disband their automotive fuel cell technology joint venture as both companies bring the development work in-house, Reuters reported.

The British Columbia-based entity, the Automotive Fuel Cell Cooperation Corp., will cease operations this summer, Ford told Reuters.

About 200 people work at the venture. The two companies will continue exploring ways to cooperate in developing fuel cell stack modules, according to the report.

Daimler CEO Dieter Zetsche had earlier hinted that the German automaker would focus more on battery-electric vehicles, Reuters said.