UK-based HVS will focus on licensing its hydrogen propulsion systems rather than making trucks, as its returning founder blames the firm’s former leadership for taking it to the “brink of collapse.”
Abdul Waheed, the company’s founder and now CEO, said the dramatic shift was a “direct consequence” of the previous leadership’s strategy of concentrating on capital-heavy hydrogen truck manufacturing.
Launched in 2017, HVS distinguished itself from other hydrogen truck players by not relying on existing truck chassis, which it said allowed it to streamline the design of its hydrogen powertrain.
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