The corporation behind Saudi Arabia’s $500 billion NEOM megacity project has announced plans to construct a factory capable of producing 10,000 hydrogen fuel cell commercial vehicles per year.
The project is part of a deal between Hyzon Motors, a company headquartered in the United States that specializes in the supply of zero-emission hydrogen fuel cell-powered commercial vehicles, and Modern Industrial Investment Holding Group, a Saudi conglomerate.
Over the next 18 months, the trio will collaborate to finalize plans and requirements for the new facility.
In order to complete the project and distribute Hyzon-branded zero-emission commercial vehicles across Saudi Arabia and the wider region, the partners intend to form a new joint venture company called Hyzon Motors Middle East (ME).
NEOM, which is situated in the northwest of Saudi Arabia, is committed to being completely sustainable by 2030, powering itself entirely with renewable energy and emitting zero emissions.
Green hydrogen will play a significant role in this goal, and the city’s supporters have already committed $5 billion to the construction of the world’s largest hydrogen production plant.
