Keywords: GCC , Saudi Arabia , Collaborate , Hydrogen-Powered Vehicle
Tags: Hyzon Motors , NEOM , Modern Group
Hyzon Motors Inc. (Hyzon), a leading global supplier of zeroemission hydrogen fuel cell-powered commercial vehicles, jointly with Modern Industrial Investment Holding Group (Modern Group), a Saudi industrial conglomerate, announced the signing of a memorandum of understanding with NEOM Company for the development of a vehicle assembly facility in NEOM, the $500bn giga-project in northwest Saudi Arabia.
NEOM is committed to becoming fully sustainable, powering itself through the use of 100% renewable energy and with net zero emissions by 2030. A green hydrogen ecosystem will play a vital role both for the export of renewable energy and for net-zero carbon technologies for power and transportation in NEOM.
Hyzon, Modern Group and NEOM Company plan to work closely over the next 18 months to finalize plans and specifications for the new regional assembly facility, with an anticipated annual capacity to assemble up to 10,000 vehicles. To facilitate construction of the new facility, Hyzon and Modern Group plan to incorporate a joint venture company, Hyzon Motors Middle East, which would focus on supplying locally-built, Hyzon-branded zero-emission commercial vehicles throughout Saudi Arabia and the GCC.
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