Hyzon Motors Inc. (NASDAQ: HYZN), a supplier of hydrogen-powered fuel cell electric vehicles, and the MiTAC-Synnex Group, an industrial conglomerate in Taiwan, announced a Memorandum of Understanding (MoU) to jointly develop hydrogen-powered commercial vehicles and distribution models optimized for the Taiwan market.
Under the terms of the non-binding agreement, Hyzon and HwaQi, a MiTAC-Synnex affiliate, will work to establish a joint operating model delivering a product portfolio, service, and logistics operations tailored to the needs of the Taiwan market. The companies anticipate securing orders from municipalities and private businesses, targeting first commercial shipments in 2022.
Hyzon is also expected to support MiTAC-Synnex’s decarbonization efforts, starting with supplying two fuel cell electric trucks to MiTAC-Synnex in 2022. Pending successful deployment of these initial trucks and appropriate regulatory frameworks in Taiwan, Hyzon and MiTAC-Synnex anticipate jointly building substantial business volumes for Hyzon FCEVs in Taiwan.
To accelerate the adoption of Hyzon vehicles across Taiwan, the companies are evaluating the option to explore hydrogen production and refueling infrastructure assets and partnerships to provide green hydrogen to Hyzon fleets.