Ford Motor Company, Mercedes-Benz's parent company Daimler AG and the Renault-Nissan Alliance announced on Monday that they signed a three-way agreement concerning the joint development of a common fuel cell electric vehicle system.
The deal, which was signed in Yokohama, Japan, by Tomas Weber (Daimler), Raj Nair (Ford) and Mitshuhiko Yamashita (Nissan), aims to accelerate the development time of fuel cell technology, maximize design commonality and reduce costs through economies of scale.
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