Ballard Power Systems has announced consolidated financial results for the first quarter (Q1) ended 31st March (2019).
“Q1 2019 results were consistent with our expectation for a softer start to the year,” said Randy MacEwen, President and CEO.
“We delivered revenue of $16m, gross margin of 14% and ending cash reserves of $165m. Together with the Weichai-Ballard JV agreement announced earlier today, our order book and sales pipeline support the company’s 2019 plan and growth in 2020. Importantly, in Q1 we made solid progress in the execution of our corporate growth strategy across key markets.”
Weichai-Ballard JV to support FCEV deployments in China
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