|

Strategy/Policy

Ballard to undergo corporate restructuring

|

By Luke Willetts - 7th November 2024

Randy MacEwen, Ballard President and CEO

Canada — Ballard Power Systems Inc, a manufacturer of fuel cell systems based in Burnaby, British Columbia, announced it is set to undergo a corporate restructuring in response to delays in hydrogen infrastructure development and slower-than-expected adoption of fuel cell technology. The restructuring aims to reduce operating expenses by over 30%. Key actions include workforce reductions, rationalisation of product development programs, and cuts to capital expenditures. These measures are intended to align the company with the slower market growth while maintaining its commitments to existing customers. Ballard is expected to complete the restructuring by 2025 and will also see changes in its leadership team.

Randy MacEwen, Ballard President and CEO said:

Become a subscriber to read article

Start free trial Already a subscriber? Click here to login.

Choose your subscription

Individual

£420 / annum

✓ 1 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Team

£1,650 / annum

✓ 5 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Group

£3,000 / annum

✓ 10 × users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

Enterprise

£8,500 / annum

✓ Unlimited users
✓ 3 × devices per user
✓ Unlimited articles
✓ Article Downloads
✓ Premium Content
✓ Enhanced Company Profiles

Select Subscription

or Start your 30 day free trial today and get almost unrestricted access. Start your free trial

Subscription Features

Unlimited Article Limits

Access to all articles published daily as well as Truck & Bus Builder archives.

Access Article Downloads

Tables, graphs and statistical information as well as government papers.

Premium Content

Including in depth market reports, feature articles and interviews with industry leaders.