Ballard Power Systems announced disappointing third-quarter 2024 financial results, citing weak revenue, strained margins, and a push-out in hydrogen and PEM fuel cell market adoption. The company has undertaken significant restructuring measures to align its spending with the evolving market landscape, including workforce reductions and a strategic review of its Chinese joint venture. While facing challenges, Ballard remains optimistic about the long-term potential of hydrogen and PEM fuel cells in decarbonizing select heavy mobility and stationary power applications.