Hino Motors hydrogen trucks received a positive recommendation
The hydrogen transport manufacturing company Hyzon Motors Inc. (HYZN) received a positive recommendation from the investment bank Canaccord Genuity. Previously “attacked” by short-sellers, the company showed a 13.64% increase in quotations to $7.08 at the auction on December 26. The market capitalization was $1.8 billion.
Nikola Corporation (NKLA), a manufacturer of hydrogen and electric trucks, is much more talked about than Hyzon. At the same time, Nikola only this month began delivering truck tractors, while Hyzon already supplies truck tractors to customers and plans to sell at least 600 cars in 2022. One of the problems with Hyzon shares was an attack by short-sellers, but now some Wall Street experts have changed their attitude to its prospects.
Canaccord Genuity analyst Jed Dorsheimer believes that Hyzon’s shares, given that the company already supplies customers with serial hydrogen machines, unlike competitors. At the same time, the analyst noted Hyzon’s possible leadership in the segment of hydrogen-powered tractors and the potential for deploying hydrogen refueling infrastructure using existing networks of gas stations. Against this background, Canaccord Genuity recommended buying HYZN shares with a target price of $12.
Hyson has its platform for heavy trucks, based on which the Hymax-450 truck tractor and the Hymax-GSL garbage truck have already. The tractor has a 450 kW motor and a power reserve of 650 km. The hydrogen supply in the tank is 65 kg, and you can refuel the car in just 20 minutes. Hydrogen fuel cells with a capacity of 240 kW charge the battery from the motors and other systems.
The declared characteristics of Hyzon machines are high — in several essential parameters, it is better than that of Nikola. At the same time, there are advantages of hydrogen cars: zero emissions, a low-noise power plant, and a shallow vibration level, compared to diesel trucks. On the other hand, safety problems have with the help of a powerful fire extinguishing system and a fuel system with a high but not excessive pressure of 350 bar, which is comparable to the pressure in scuba tanks.
