Core Viewpoint - Plug Power (NASDAQ: PLUG) is facing a divided opinion among analysts, with predictions ranging from a potential doubling of its stock price to a decline of up to 75% over the next year [1][7]. Analyst Perspectives - Citigroup analyst Vikram Bagri maintains a bearish outlook, reiterating a 12-month price target of $0.75, indicating a potential decline of approximately 75% from its recent price of around $3 per share [2]. - Despite a 250% increase in Plug Power's stock over the past six months, Bagri's bearish stance remains firm [2]. Concerns Highlighted by Analysts - The economic viability of hydrogen fuel systems is still years away, leaving companies like Plug Power dependent on government subsidies and limited pilot customers [4]. - Plug Power is currently losing about $250 million per quarter, which equates to nearly 30% of its market capitalization, leading to significant share dilution through secondary stock sales [5]. - Bagri's previous bullish outlook in 2023, which predicted strong margin expansion due to aggressive growth plans, has not materialized, with shares down over 75% since that prediction [6].

Core Viewpoint - Stellantis has decided to terminate its hydrogen fuel cell technology development project due to limited hydrogen infrastructure, high capital requirements, and insufficient consumer incentives, predicting that hydrogen-powered light commercial vehicles will not see widespread adoption before 2030 [2][7][9]. Group 1: Termination of Hydrogen Projects - Stellantis announced the cessation of its hydrogen fuel cell technology development project on July 16, citing the need for significant investment and the current inadequacy of hydrogen refueling infrastructure [2][7]. - The company will stop investing in Symbio, a joint venture focused on hydrogen fuel cell technology, which Stellantis acquired a 33.3% stake in 2023 [3]. - The decision to abandon hydrogen projects follows the approval of Symbio's latest business plan, which may destabilize the joint venture and affect related suppliers and jobs [5][11]. Group 2: Strategic Shift - The decision to withdraw from hydrogen energy aligns with Stellantis's response to stringent CO2 emission regulations in Europe, as the hydrogen market is still considered niche and lacks short-term economic sustainability [7][15]. - Stellantis plans to focus on electric and hybrid vehicles to meet customer expectations and maintain competitiveness [9][15]. - The shift away from hydrogen indicates a deeper strategic transformation towards electric vehicles (EVs), impacting product supply and dealer investment plans [15]. Group 3: Industry Perspectives on Hydrogen - While Stellantis exits the hydrogen sector, companies like Toyota and Hyundai continue to invest in hydrogen technology, with Toyota collaborating with BMW on hydrogen vehicles and Hyundai launching new fuel cell models [17][19]. - Other manufacturers, such as Honda and Renault, are also pursuing hydrogen technology, but the lack of supporting refueling infrastructure remains a significant challenge for the industry [21].