Company Directory - Hyzon Motors Inc.
Company Details - Hyzon Motors Inc.
Hyzon Motors Inc.
WebsiteHyzon Motors Inc. focuses on hydrogen fuel cell vehicles, facilitating a low-emission transportation future through innovative technology in mobility solutions.
CCI Score
CCI Score: Hyzon Motors Inc.
-52.22
0.03%
Latest Event
Hyzon Motors Liquidation and Workforce Layoffs
Hyzon Motors announced a plan for liquidation following mounting financial challenges, which included sweeping layoffs at its Bolingbrook, Illinois and Troy, Michigan facilities as staff received WARN Act notices. This marks a significant blow to worker security amid the company's dissolution process.
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QUISLING
Hyzon Motors Inc. is currently rated as a Quisling.
Latest Events
- MAR062025
Hyzon Motors announced a plan for liquidation following mounting financial challenges, which included sweeping layoffs at its Bolingbrook, Illinois and Troy, Michigan facilities as staff received WARN Act notices. This marks a significant blow to worker security amid the company's dissolution process.
-55
Labor Relations and Human Rights Practices
April 8
The decision to liquidate and execute mass layoffs, accompanied by WARN Act notices, severely undermines worker security and fair labor practices. This move adversely impacts specialized tech workers and local economies, reflecting a negative stance on labor relations.
- JAN142025
Hyzon Motors Inc. announced that its Board of Directors has unanimously approved a plan to dissolve the company and liquidate its assets, pending shareholder and regulatory approval. The decision, made amid significant financial challenges and uncertainties regarding government subsidies, follows an earlier warning that workers at its Bolingbrook, Illinois, and Troy, Michigan facilities would be laid off if additional funding could not be secured.
-50
Labor Relations and Human Rights Practices
April 8
The decision to liquidate the company and potentially lay off workers highlights a significant failure in protecting labor rights and undermines worker security. This negatively impacts employees and reflects poor ethical responsibility in managing workforce welfare, a key aspect of business practices and ethical responsibility.
- DEC272024
Hyzon Motors announced a Worker Adjustment and Retraining Notification Act notice as it faces mounting financial difficulties, putting its employees at risk of layoffs at its Bolingbrook, Illinois, and Troy, Michigan facilities. The decision reflects ongoing struggles with financial viability and uncertainty over government subsidies, raising concerns about the company’s commitment to safeguarding worker rights.
-50
Labor Relations and Human Rights Practices
April 8
The issuance of a WARN Act notice by Hyzon Motors signals potential large-scale layoffs, which undermines worker security and reflects poorly on the company’s labor practices. Amid significant financial distress and uncertainty in government subsidies, the move indicates that the company may be neglecting its responsibility to protect its employees, aligning negatively with the principles of fair labor practices.
Hyzon Motors Issues WARN Act Notice Amid Financial Challenges
- DEC202024
Hyzon Motors Inc. issued a WARN Act notice on December 20, 2024, for its Bolingbrook, Illinois and Troy, Michigan facilities due to financial challenges including inability to raise funds and loss of government subsidies. The notice signals a planned workforce reduction, with layoffs expected to finalize by February 2025, negatively impacting employee job security.
-30
Labor Relations and Human Rights Practices
April 8
The issuance of a WARN Act notice, which precedes mass layoffs due to financial instability and loss of government support, raises serious concerns about the company's commitment to worker rights and fair labor practices. Such layoffs undermine employment stability and have a disproportionately negative impact on workers, aligning with broader concerns regarding labor rights under conditions of corporate retrenchment.
Hyzon issues Worker Adjustment and Retraining Notification Act (WARN Act)
- SEP272023
Hyzon Motors Inc. agreed to pay $25 million to settle SEC fraud charges after allegations that it misled investors about its sales and customer contracts. The settlement was announced on September 27, 2023, and follows SEC findings of significant misrepresentations regarding the company’s business activities.
-80
Business Practices and Ethical Responsibility
April 8
Hyzon Motors engaged in unethical business practices by misleading investors about its potential sales and customer base, resulting in a $25 million SEC settlement. This fraudulent behavior undermines investor trust and corporate accountability.
- SEP272023Fraud Settlement and Penalty
-42.78
Hyzon Motors Inc. settled a US fraud case by paying a $25 million penalty and agreeing to additional six-figure settlements from two former executives, highlighting significant ethical and governance failures within the organization.
-50
Business Practices and Ethical Responsibility
April 8
The settlement in a US fraud case reflects unethical business practices and a failure in corporate governance. This event underscores a disregard for ethical standards, negatively impacting the company's overall responsibility and integrity.
Hydrogen truckmaker Hyzon settles US fraud case with $25m penalty
- SEP272023
Hyzon Motors agreed to pay $25 million to settle federal fraud charges after allegedly misleading investors by misrepresenting its sales and customer base, including a falsified demonstration video and inflated sales numbers.
-60
Business Practices and Ethical Responsibility
April 8
Hyzon Motors' settlement for SEC fraud charges highlights a significant lapse in ethical business practices. The allegations of misrepresenting sales figures and customer engagements, including the misleading demonstration video, reveal a pattern of deceiving investors. This behavior undermines corporate transparency and accountability, and by misleading the public and investors, the company’s actions are detrimental to the trust essential for an equitable financial market.
- SEP262023
The SEC announced settlements against Hyzon Motors Inc. and two former executives for misleading investors by misrepresenting business relationships, vehicle sales, and FCEV delivery capabilities. The charges included false claims about delivering the first hydrogen-powered vehicle and exaggerated sales figures, resulting in civil penalties and restrictions for the executives.
-70
Business Practices and Ethical Responsibility
April 8
Hyzon Motors engaged in deceptive business practices by misrepresenting key performance metrics and business relationships to investors. This deliberate lack of transparency and ethical responsibility undermines corporate accountability and trust, which can indirectly contribute to the erosion of democratic norms and accountability.
SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors
- JUL112023
The SEC settled fraud charges against Hyzon Motors and former executives for misleading investors by falsifying claims about customer and supplier relations, as well as vehicle deliveries and sales. The settlement involved significant financial penalties and restrictions on executive roles, underscoring the company's unethical business practices.
-80
Business Practices and Ethical Responsibility
April 8
Hyzon Motors engaged in fraudulent misrepresentations regarding its business relationships and vehicle sales, deceiving investors and undermining accountability. This unethical conduct, as evidenced by SEC charges and subsequent penalties, reflects poor business practices that contribute to corporate malfeasance.
SEC Exposes Hydrogen Vehicle Company Hyzon Motors and Former Executives for Investor Misleading
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