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  "documentTitle": "Ballard Power Systems (BLDP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2018-01-25 00:00:00",
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  "notes": "The slide uses a photo of a factory floor to visually support the claim that no fuel cell vehicles are in production.",
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      "text": "Ballard's press releases and local government officials would have you believe Foshan Feichi have produced 114 FCV buses. Based on our research, we believe they have likely produced less than 50 buses to date, and only 11 of those are licensed and on the road.",
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      "text": "Foshan Feichi is a tiny regional producer of diesel, LNG and electric buses that has now diversified into hydrogen vehicles after becoming a joint venture with the Yunfu local government. The group operates long distance as well as city buses. About 80% of the buses they build are operated by themselves. They operate about 500 buses. They also have a logistics company with 400 trucks. Almost all of the buses using Ballard FC technology have been built by Foshan Feichi",
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      "text": "Source: J Capital. Feichi factory floor, assembling electric buses for Foton, no fuel cell vehicles in production.",
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      "kind": "title",
      "text": "Overview of Chinese Fuel Cell Vehicle Manufacturers – Foshan Feichi",
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