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Benzinga
Benzinga
Business
Shivani Kumaresan

Hyzon Plans To Establish Australian Headquarters In Melbourne

Australia Melbourne RACV Hyzon Motors
  • Hyzon Motors Inc (NASDAQ:HYZN) has chosen Melbourne as its Australia headquarters under a new partnership agreement with the RACV.
  • Under the agreement, Hyzon Motors, in conjunction with the RACV at their Noble Park location, will develop a purpose-built facility including corporate offices, showroom, assembly warehousing, and workshop.
  • The facility is expected to generate over 100 localized engineering and manufacturing jobs by 2025, with hundreds more indirect jobs through the supply chain.
  • The partnership also includes the first order of hydrogen-powered vehicles for the RACV-owned subsidiary Nationwide Group.
  • The company is expected to deliver three locally manufactured Hyzon HyMax TT7 tilt-tray trucks and one of Hyzon's fully imported HyMax prime movers to the Nationwide Group.
  • Price Action: HYZN shares traded higher by 5.34% at $4.93 on the last check Monday.
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