Ballard Power Systems (TSE:BLDP) has released an update.
Ballard Power Systems faced a challenging Q3 2024, with a significant drop in revenue and a major corporate restructuring to cut costs amid slow adoption of hydrogen and PEM fuel cells. The company remains optimistic about future opportunities in the bus, rail, and stationary markets, especially with a new supply agreement for the North American bus market. Despite setbacks, Ballard is focused on developing low-cost fuel cell products and maintaining financial discipline to ensure long-term sustainability.
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