Ballard Power Systems shifts focus from China to US, plans $220M Texas plant due to $94M US incentives.

Ballard Power Systems, a British Columbia fuel cell manufacturer, is shifting its focus from China to the U.S. due to $94 million in U.S. incentives. The company plans to decide on a $220 million Texas manufacturing plant this year while facing challenges in China, including a significant drop in orders from $130 million to $5 million. Ballard is restructuring to cut costs by 30% amid a slowdown in hydrogen infrastructure and delayed fuel cell adoption.

October 23, 2024
6 Articles