Benzinga | Jan 31, 2022 10:10AM EST

Hyzon Plans To Establish Australian Headquarters In Melbourne

* 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.