Hyzon & HongYun sign leasing agreement in China
US manufacturer Hyzon Motors has signed a memorandum of understanding with logistics and leasing group Shanghai Hydrogen HongYun Automotive for the purchase of 500 fuel cell trucks. The initial order of 100 is expected to be placed this year.
Provided that the MoU results in a contract, Hyzon will deliver 500 examples of its 49-tonne hydrogen-powered tractors to HongYun. As things stand, orders for the first 100 units are to be placed this year and those for the remaining 400 FC trucks in 2022. So far, these are the few detailed key points of the deal that Hyzon Motors has made public.
HongYun Automobile is a service provider for logistics solutions that wants to become the “leading supplier of hydrogen-powered fuel cell vehicles”. According to the company, it maintains close contacts with large logistics groups in China and offers, among other things, operating, leasing and maintenance services for customers throughout the country.
After Hyzon delivers the 500 vehicles, HongYun will be responsible for subsequent commercial agreements with end customers. “Hydrogen fuel cell technology has been adopted more quickly in China than in the rest of the world,” says Hyzon CEO Craig Knight. “This allows Hyzon to begin the critical work of decarbonizing the environment, while building experience, capacity, and expertise which will be applied globally.”
Hyzon Motors only began operations in March 2020. Headquartered in Rochester, New York, the fledgling company was founded as a subsidiary of Singapore-based fuel cell manufacturer Horizon Fuel Cell Technologies to serve as a full-service provider to accelerate the adoption of hydrogen-powered commercial vehicles.
Shortly after starting operations, Hyzon established a European headquarters in Groningen, the Netherlands, in July 2020. Against this backdrop, the startup announced a few weeks ago that it had begun delivering its first fuel cell trucks to European customers. The company is also preparing to launch its first customer trials in the US. Hyzon Motors plans to deliver a total of 85 fuel cell trucks by the end of this year.
Hyzon’s production and engineering centres are located in Honeoye Falls in New York State, Groningen in the Netherlands and Shanghai in China.