While the purchase price for battery and hydrogen vehicles exceeds that of diesel, gasoline and natural-gas fueled trucks, potentially by tens of thousands of dollars, the companies all say the total cost of ownership, including fuel and maintenance expenses, gives them an advantage. “That’s 50% by 2030 and by 2040, 100%.”Īlong with Navistar, top global truck manufacturers and brands, including Daimler Truck, Volvo, Hyundai and Hino, Peterbilt, Kenworth, International and Mack, China’s BYD, engine giant Cummins and electric truck startups including Proterra, Nikola, Hyzon, Hyliion and Xos are scrambling to get zero-emission commercial vehicles into operation with trucking and logistics customers, as well as city fleets. As a result, “We believe 50% of our sales will be electric by 2030,” said Carlbaum. In part, that’s because the Volkswagen Group affiliate will leverage technology improvements flowing from VW’s plan to spend $100 billion on battery and electric propulsion R&D. Mathias Carlbaum, Navistar president and CEO Hyzon Motors to get $570M from SPAC backing fuel cell technologyĬlick for more FreightWaves articles by Alan Adler.“The point of cost parity (of electric trucks), depending on the application, is much sooner than many think.” What made the froth in transportation SPACs go flat?ĪCT Expo: Exclusive first ride in Hyzon hydrogen-powered fuel cell truck “Hyzon aims to make 2022 a watershed year for hydrogen in heavy mobility.” Related articles: “As Hyzon completes compliance and homologation requirements for vehicles in North America and Australasia, government support for hydrogen steadily grows, and commercial understanding of fuel cell electric vehicles’ unique suitability for heavy transport increases,” Knight said in a press release. In December, Hyzon delivered 29 fuel cell trucks to be used by a major steel conglomerate in China through Shanghai Hydrogen HongYun Automotive Co. The Hyzon vehicles delivered were heavy-duty fuel cell truck models deployed for refuse collection and sewer cleaning in Europe. Hyzon will not count any trial leases, including eight fuel cell-powered dump trucks in Foshan, a United Nations hydrogen demonstration city in China, in its delivery count when it reports Q4 and full-year results. If those trucks meet performance specifications, TTSI could order up to 100 battery electric and hydrogen fuel cell Nikola trucks. ![]() TTSI received two preproduction battery-electric Class 8 trucks from Nikola in December for testing. ![]() ![]() , Hyzon Motors co-founder and CEO Craig Knight “Hyzon aims to make 2022 a watershed year for hydrogen in heavy mobility.” Hyzon is testing a Freightliner Cascadia retrofitted with a fuel cell and hydrogen tanks with Total Transportation Systems Inc., a Southern California drayage operator that also has signed a letter of intent to purchase fuel cell trucks from startup Nikola Corp. Because of Horizon’s 18-year track record, Asian markets are easier, and they were not hit as hard by some supply chain issues. Practically all electric vehicle and infrastructure startups that went public via special purpose acquisition company mergers in the last two years have seen their shares hammered as SPACs have come under increased Securities and Exchange Commission scrutiny.Įurope and North America are less mature markets for fuel cell vehicles than Asia, Hyzon co-founder and CEO Craig Knight told FreightWaves during an interview in August. Hyzon shares traded 9.62% lower intraday Wednesday at $6.16, far off their 52-week high of $19.95. Hyzon expects lower selling prices on average because of a focus on sales in Asia, where fuel cells command about half of other regions.
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