A number of analysts are slashing Ballard share price targets
Ballard spins its wheels
Share guidance for Ballard Power Systems was downgraded this month following uncertainties surrounding the Chinese fuel cell market
Fuel cell manufacturer Ballard Power Systems’ sales and revenue have been flat in 2021 despite expectations of growth this year, with a lack of policy clarity weighing on sales in its all-important Chinese market. Ballard invested $87mn in its business in 2021– compared to revenue of $96mn in the twelve months to September. This included $20mn to expand production capacity at its British Columbia plant by six times and $67mn for its share of a newbuild factory in Shandong Province, China. The latter is a joint venture with Weichai Motors, the world’s largest diesel manufacturer, and has been described as the largest in the world for manufacturing proton-exchange membrane (PEM) fuel cells fo
Also in this section
5 December 2025
European Commission highlights rapid growth of Chinese production this year, as it retains strict procurement rules in latest European Hydrogen Bank subsidy auction
2 December 2025
Oil major cites deteriorating demand and a planning debacle as it abandons one of UK’s largest blue hydrogen projects
1 December 2025
Project at Emden in northwest Germany due online in 2027, but wider ramp-up of clean hydrogen sector in Germany will require overhaul of government policy, company warns
25 November 2025
The northwest African country’s vision of integrating green power, molecules and steel is alive and kicking, and serves as a reminder of hydrogen’s transformative potential
