Hyzon signs MoU for FCEV production in Saudi Arabia
Hyzon Motors is planning to build an assembly plant in Saudi Arabia with the Saudi industrial conglomerate Modern Group. The plant is to be built in the planned city of Neom in the northwest of the country and will have an annual capacity for the assembly of up to 10,000 FC commercial vehicles.
A memorandum of understanding (MoU) has now been signed between the developer of fuel cell commercial vehicles and the Modern Group. This states that the partners will establish a joint venture company called Hyzon Motors Middle East to facilitate plant construction. The locally manufactured fuel cell commercial vehicles are to be sold domestically, but also in the Gulf Cooperation Council (GCC) markets in the Middle East. These include Saudi Arabia, Kuwait, Oman, Qatar, Bahrain and the United Arab Emirates (UAE).
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/PRNewswire/ Hyzon Motors Inc. ("Hyzon"), a leading global supplier of zero-emission hydrogen fuel cell-powered commercial vehicles, jointly with Modern.
DUBAI: The company behind Saudi Arabia’s $500 billion NEOM megacity project on Thursday revealed plans to develop an assembly plant to build up to 10,000 hydrogen fuel cell-powered commercial vehicles a year.
The initiative is part of an agreement between US-based Hyzon Motors, an expert in the supply of zero-emission hydrogen fuel cell-powered commercial vehicles, and Saudi conglomerate Modern Industrial Investment Holding Group.
The trio will work together over the next 18 months to finalize plans and specifications for the new facility.
As part of the linkup, the partners plan to set up a new joint venture company – Hyzon Motors Middle East (ME) – which will focus on completing the project and distributing the Hyzon-branded zero-emission commercial vehicles throughout Saudi Arabia and the wider region.