Hyzon Motors
Hydrogen truckingUSA
New to Unitard
π Public < $1B
PeakΒ $2.7 BillionRecorded estimate
~-95%
from peak
- π¦Became a unicorn2021
- πPeak valuation$2.7 Billion β21
- πBecame a Unitard~2022
- πΈLast valuation estimate~$135M
Current status
Public; wind-down 2025
The rise & fall
7 moments Β· 2020β2025The key moments, with employee sentiment along the way.
2020
2020
Spun out of Horizon Fuel Cell
A hydrogen-truck bet carved out of Singapore's Horizon Fuel Cell Technologies, promising fuel-cell big rigs.
Wikipedia
Jul 2021
Jul 2021
De-SPAC at $2.7B β unicorn and peak in one shot$2.7B
Merges with Decarbonization Plus Acquisition Corp at the height of the hydrogen-truck hype.
SEC filing
Sep 2021
Sep 2021
A short-seller cries phantom customers
Blue Orca alleges Hyzon's flagship customers aren't what they seem; the stock craters and the accounting scrutiny begins.
Bloomberg
2022
2022
Slips out of the club
Accounting questions, delayed trucks and mounting losses pin the market cap well under $1B.
Macrotrends
2023β24
From the inside Β· Glassdoor reviews, 2023β24
Glassdoor reviews described a top-heavy shop β employees said managers outnumbered the working engineers, with hires drawn from leaders' old legacy-auto networks β and insiders questioned whether the fuel-cell trucks had a real market well before the wind-down was announced.
2025
2025
Out of road: the wind-down
Down roughly 95% from peak, Hyzon moves to cease operations.
Reuters
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Hyzon Motors was a US developer of hydrogen fuel-cell systems for heavy trucks, valued around $2.7B after a 2021 SPAC merger. Accounting scrutiny, delayed commercialization, and mounting losses pushed its stock well below $1B, and it moved to wind down operations in 2025 β down roughly 95% from peak.
Source: De-SPAC 2021
Who ran it
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
