Ballard Power Systems is assessing further cost reductions in 2025 as the hydrogen fuel cell maker looks to stabilise its finances amid uncertain macroeconomic, geopolitical, and industry conditions.
The message came during the firm’s Q1 2025 results, where it narrowed its gross loss margin by 14 points to -23%, thanks to its 2024 restructuring, which was made up of job cuts, executive changes, and a shift in its Chinese strategy.
The company says those measures, announced as it looked to weather a slowdown in the hydrogen market, have saved the firm 31% in total opex.
However, without further cuts, it expects the gross margin to remain negative due to “relatively low revenue and absorption against our manufacturing overhead costs.”
... to continue reading you must be subscribed
