China's Buses Bolster Ballard's Three-Decade Quest for Hydrogen
- China will account for 50% of Ballard’s sales this year
- ‘Chinese market could just blow that wide open,’ CFO says
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A decades-long struggle by Ballard Power Systems Inc. to make money off hydrogen may finally be paying off as the world’s largest automotive market begins converting vehicles from petroleum to a system that emits nothing but water.
The Canadian company, which has mostly posted losses since it was publicly listed in 1993, expanded its foothold in China last year when its power systems were tapped for the largest-ever deployment of hydrogen buses. Since July, Ballard shares are up more than 80 percent on the promise of more sales as the world seeks alternatives to mainstay energy sources like oil and coal.