CEO Marty Neese, who was appointed in June, said on an earnings call that the Vancouver-based firm is “taking a hard look” at markets like heavy duty trucking “that are not moving as fast as expected” as it tries to shave 30 per cent from its yearly operating costs by next year. (The Logic)

Talking point: More belt-tightening may be ahead for the hydrogen fuel cell maker, which recently announced its third round of layoffs in as many years. Ballard has also halted investments in China, and is postponing the final investment decision on its Texas gigafactory. The company’s quarterly revenue rose 11 per cent year over year and it booked one of its largest-ever boat-engine orders last month, even as it reported a net loss of US $24.3 million on Monday. But Ballard also forecasted a hydrogen industry downturn, including failures, restructurings and consolidation, in the next two years.