Hyzon Motors Inc. announced the signing of a memorandum of understanding (MoU) with Shanghai Hydrogen HongYun Automotive Co., ltd for the purchase of 500 hydrogen-powered electric trucks. Hyzon expects, subject to execution of a definitive vehicle supply agreement, to provide 49-ton hydrogen-powered tractor trucks to HongYun. Under the non-binding MoU, the initial order of 100 vehicles is expected before the end of 2021 while the other 400 vehicles will be ordered in 2022. After Hyzon delivers the vehicles, HongYun will be responsible for the subsequent commercial arrangements with its end customers.