US based zero-emissions heavy vehicle manufacturer Hyzon Motors has announced it has begun the process of dissolving its entire company.
Just days before Christmas, Hyzon Motors issued a worker adjustment and retraining notification to its employees at the company’s US headquarter facilities in Bolingbrook, Illinois and Troy, Michigan.
Hyzon says its inability to raise funding and the future uncertainty of government subsidies means customers have slowed down or suspended purchasing decisions.
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If Hyzon Motors can’t raise funds or find a buyer, the reduction in force is expected to be completed in February.
The notice to its US employees begins a 60-day notice period that it must give before idling operations and laying off employees.
The news comes after Hyzon closed its Australian operations in August last year, with the global head suspending any funding to the Australian arm.
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