Hyzon Motors (NASDAQ:HYZN) has made quite the splash in the electric vehicle stock field of late. It’s been mounting steadily upward in a multi-day rally, and today seems to be no different. It’s up another 24% at the time of writing, though some are wondering exactly why.
One of the big reasons is advancing technology. Hyzon just this week announced that it’s moving along nicely on its 200kW Fuel Cell System units. The B-samples recently completed factory acceptance testing, which puts it well in line with its earlier-released roadmap. At the rate things are going, Hyzon noted, 2024 will be the year its FCS system officially goes live commercially. Additionally, Hyzon has also established its Membrane Electrode Assembly production line, which will also help drive commercial-tier production forward.
Based on word from Hyzon’s CEO, Parker Meeks, Hyzon is rapidly working to get hydrogen fuel cells to market faster. That’s likely a point Nikola (NASDAQ:NKLA) would be interested in knowing about as well, as that’s much of what it’s been doing for the last several years. Hyzon looks like it’s well on the way to beating Nikola to the punch, and without much of the drama that has underscored Nikola’s tenure.
The news comes at a great time for Hyzon. A look at the last five days of trading for Hyzon shows that Hyzon stock was mostly flat until yesterday’s trading. Then, it began a slow but steady uphill climb, until this morning, when that climb turned into a leap.
