Hyzon Motors to Acquire Orten Betriebs, Orten Electric Trucks in Germany.
MANews-(C)2009-2022
US-based zero-emissions hydrogen and fuel cell powered commercial vehicles supplier Hyzon Motors (NASDAQ: HYZN) has signed a definitive agreement to acquire German truck and trailer bodies makers Orten Betriebs GmbH and subsidiaries, and Orten Electric Trucks GmbH, which serve the beverage industry, the company said.
The transaction is expected to close in 4Q22.
The acquisition brings three fully-operational production facilities and a team of over 80 employees under the Hyzon umbrella.
Orten's employees are experienced in electrification, retrofitting, and bodybuilding, all critical elements of Hyzon's FCEV build process.
Additionally, Orten management has long-standing customer relationships across Germany.
Complementary product lines between Hyzon and Orten, in combination with Orten's body and powertrain kits, provide a comprehensive solution for customers transitioning their fleets to zero emissions: vehicles up to 26 tons can be transitioned to Orten's existing offering of battery electric vehicles, while the...
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