Hyzon Motors (HYZN) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity Registrant Name	Hyzon Motors Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39632
Entity Tax Identification Number	82-2726724
Entity Address, Address Line One	475 Quaker Meeting House Road
Entity Address, City or Town	Honeoye Falls
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14472
City Area Code	585
Local Phone Number	484-9337
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		247,900,979
Entity Central Index Key	0001716583
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	HYZN
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
Trading Symbol	HYZNW

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 407,333	$ 445,146
Accounts receivable	774	2,598
Related party receivable	417	264
Inventory	26,082	19,245
Prepaid expenses and other current assets	29,951	27,970
Total current assets	464,557	495,223
Property, plant, and equipment, net	18,249	14,311
Right-of-use assets	10,970	10,265
Investments in equity securities	17,478	4,948
Other assets	6,146	5,430
Total Assets	517,400	530,177
Current liabilities
Accounts payable	7,938	8,430
Accrued liabilities	9,034	6,026
Related party payables	648	3,633
Contract liabilities	11,063	11,230
Current portion of lease liabilities	2,409	1,886
Total current liabilities	31,092	31,205
Long term liabilities
Lease liabilities	9,249	8,830
Private placement warrant liability	13,705	15,228
Earnout liability	100,520	103,761
Deferred Income Tax Liabilities, Net	526	0
Other liabilities	1,243	1,296
Total liabilities	156,335	160,320
Commitments and contingencies (Note 11)
Stockholders’ Equity
Common stock, $0.0001 par value; 400,000,000 shares authorized, 247,881,568 and 247,758,412 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively.	25	25
Additional paid-in capital	404,992	403,016
Accumulated deficit	(37,182)	(28,117)
Accumulated other comprehensive gain	486	373
Total Hyzon Motors Inc. stockholders’ equity	368,321	375,297
Noncontrolling interest	(7,256)	(5,440)
Total Stockholders’ Equity	361,065	369,857
Total Liabilities and Stockholders’ Equity	$ 517,400	$ 530,177

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Jul. 16, 2021
Statement of Financial Position [Abstract]
Common stock, par value (dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	247,881,568	247,758,412
Common stock, shares outstanding (In shares)	247,881,568	247,758,412

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 356	$ 0
Operating expense:
Cost of revenue	424	0
Research and development	6,212	627
Selling, general, and administrative	20,470	3,146
Total operating expenses	27,106	3,773
Loss from operations	(26,750)	(3,773)
Other income (expense):
Change in fair value of private placement warrant liability	1,523	0
Change in fair value of earnout liability	3,241	0
Change in fair value of equity securities	12,530	0
Foreign currency exchange loss and other expense	(1,057)	(28)
Interest income (expense), net	17	(4,588)
Total other income (expense)	16,254	(4,616)
Net loss before income taxes	(10,496)	(8,389)
Income tax expense	526	0
Net loss	(11,022)	(8,389)
Less: Net loss attributable to noncontrolling interest	(1,957)	(242)
Net loss attributable to Hyzon	(9,065)	(8,147)
Comprehensive loss:
Net loss	(11,022)	(8,389)
Foreign currency translation adjustment	254	(29)
Comprehensive loss	(10,768)	(8,418)
Less: Comprehensive loss attributable to noncontrolling interest	(1,816)	(233)
Comprehensive loss attributable to Hyzon	$ (8,952)	$ (8,185)
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ (0.04)	$ (0.05)
Diluted (dollars per share)	$ (0.04)	$ (0.05)
Weighted average common shares outstanding:
Basic (in shares)	247,940,000	166,201,000
Diluted (in shares)	247,940,000	166,201,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common StockLegacy Common Stock	Common StockCommon Stock Class A	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Total Hyzon Motors Inc. Stockholders’ Equity (Deficit)	Noncontrolling Interest	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentCommon StockLegacy Common Stock	Cumulative Effect, Period of Adoption, AdjustmentCommon StockCommon Stock Class A	Cumulative Effect, Period of Adoption, AdjustmentAdditional Paid-in Capital	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings (Accumulated Deficit)	Cumulative Effect, Period of Adoption, AdjustmentAccumulated Other Comprehensive Loss	Cumulative Effect, Period of Adoption, AdjustmentTotal Hyzon Motors Inc. Stockholders’ Equity (Deficit)	Cumulative Effect, Period of Adoption, AdjustmentNoncontrolling Interest
Beginning Balance at Dec. 31, 2020	$ 14,761		$ 17	$ 29,122	$ (14,271)	$ (16)	$ 14,852	$ (91)	$ 14,761	$ 94	$ 0	$ 29,045	$ (14,271)	$ (16)	$ 14,852	$ (91)
Beginning Balance, shares at Dec. 31, 2020			166,125,000							93,750,000	0
Retroactive application of recapitalization										$ (94)	$ 17
Retroactive application of recapitalization (in shares)										(93,750,000)	(166,125,000)
Exercise of stock options	187			187			187
Exercise of stock options (in shares)			115,189
Stock-based compensation	290			290			290
IP transaction - deemed distribution	(10,000)			(10,000)			(10,000)
Net loss attributable to Hyzon	(8,147)				(8,147)		(8,147)
Less: Net loss attributable to noncontrolling interest	(242)							(242)
Foreign currency translation loss	(29)					(38)	(38)	9
Ending Balance at Mar. 31, 2021	(3,180)	$ 0	$ 17	19,599	(22,418)	(54)	(2,856)	(324)
Ending Balance, shares at Mar. 31, 2021		0	166,240,189
Beginning Balance at Dec. 31, 2021	369,857	$ 0	$ 25	403,016	(28,117)	373	375,297	(5,440)
Beginning Balance, shares at Dec. 31, 2021		0	247,758,412
Exercise of stock options	34			34			34
Exercise of stock options (in shares)			30,008
Stock-based compensation	2,133			2,133			2,133
Vesting of RSUs (in shares)			64,815
Net share settlement of equity awards	(160)			(160)			(160)
Common stock issued for the cashless exercise of warrants (in shares)			28,333
Repurchase of warrants	(31)			(31)			(31)
Net loss attributable to Hyzon	(9,065)				(9,065)		(9,065)
Less: Net loss attributable to noncontrolling interest	(1,957)							(1,957)
Foreign currency translation loss	254					113	113	141
Ending Balance at Mar. 31, 2022	$ 361,065	$ 0	$ 25	$ 404,992	$ (37,182)	$ 486	$ 368,321	$ (7,256)
Ending Balance, shares at Mar. 31, 2022		0	247,881,568

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net loss	$ (11,022)	$ (8,389)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	912	129
Stock-based compensation	2,133	290
Increase (Decrease) in Deferred Income Taxes	526	0
Noncash interest expense	0	4,500
Fair value adjustment of private placement warrant liability	(1,523)	0
Fair value adjustment of earnout liability	(3,241)	0
Fair value adjustment of value of equity securities	(12,530)	0
Changes in operating assets and liabilities:
Accounts receivable	1,839	(191)
Inventory	(6,864)	(626)
Prepaid expenses and other current assets	(1,599)	(6,982)
Other assets	(65)	0
Accounts payable	(568)	375
Accrued liabilities	3,003	316
Related party payables, net	8	811
Contract liabilities	(165)	297
Other liabilities	(92)	0
Net cash used in operating activities	(29,248)	(9,470)
Cash Flows from Investing Activities:
Purchases of property and equipment	(4,440)	(3,950)
Advanced payments for capital expenditures	(387)	0
Investment in equity securities	0	(123)
Net cash used in investing activities	(4,827)	(4,073)
Cash Flows from Financing Activities:
Exercise of stock options	34	187
Payment of finance lease liability	(86)	(38)
Debt issuance costs	0	(59)
Proceeds from issuance of convertible notes	0	45,000
Net share settlement of incentive equity awards	(160)
Payment for purchase of Horizon IP	(3,146)
Repurchase of warrants	(31)	0
Deferred transaction costs	0	(487)
Net cash (used in) provided by financing activities	(3,389)	44,603
Effect of exchange rate changes on cash	300	(26)
Net change in cash and restricted cash	(37,164)	31,034
Cash and restricted cash — Beginning	449,365	17,139
Cash and restricted cash — Ending	412,201	48,173
Supplemental schedule of non-cash investing activities and financing activities:
Horizon license agreement payable	$ 0	10,000
Transaction costs included in accrued expenses		$ 2,978

Nature of Business and Basis of

Nature of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Nature of Business and Basis of Presentation	Note 1. Nature of Business and Basis of Presentation Description of Business Hyzon Motors Inc. (“Hyzon” or the “Company”), headquartered in Honeoye Falls, New York, assembles and supplies hydrogen fuel cell-powered commercial vehicles across North America, Europe, China, and Australasia. In addition, Hyzon builds and fosters a clean hydrogen supply ecosystem with leading partners from feedstocks through production, dispensing, and financing. The Company is majority-owned by Hymas Pte. Ltd. (“Hymas”), a Singapore company, which is majority-owned but indirectly controlled by Horizon Fuel Cell Technologies PTE Ltd., a Singapore company (“Horizon”). Business Combination and Basis of Presentation The accompanying unaudited consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the requirements and rules of the Securities and Exchange Commission (“SEC”) regarding interim reporting. Certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, the unaudited consolidated financial statements should be read in connection with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2021. The Company’s unaudited consolidated financial statements include the accounts and operations of the Company and its wholly owned subsidiaries including variable interest entity arrangements in which the Company is the primary beneficiary. All intercompany accounts and transactions are eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation for the periods presented. Results of operations reported for interim periods presented are not necessarily indicative of results for the entire year or any other periods. On July 16, 2021 (the “Closing Date”), legacy Hyzon Motors Inc. and now named Hyzon Motors USA Inc., (“Legacy Hyzon”), consummated the transactions contemplated by the Business Combination Agreement and Plan of Reorganization (the “Business Combination”), dated February 8, 2021, with Decarbonization Plus Acquisition Corporation (“DCRB”) to effect a business combination between DCRB and Legacy Hyzon with DCRB Merger Sub Inc., a wholly owned subsidiary of DCRB, merging with and into Legacy Hyzon, with Legacy Hyzon surviving the merger as a wholly owned subsidiary of DCRB. On the Closing Date, DCRB changed its name to “Hyzon Motors Inc.” and Legacy Hyzon changed its name to “Hyzon Motors USA Inc.” The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP, with no goodwill or other intangible assets recorded and the net assets of Legacy Hyzon consolidated with DCRB at historical cost. Under this method of accounting, DCRB is treated as the “acquired” company for financial reporting purposes. Accordingly, the equity structure has been retrospectively adjusted in all comparative periods up to the Closing Date, to reflect the number of shares of the Company's common stock, $0.0001 par value per share issued to Legacy Hyzon's stockholders in connection with the reverse recapitalization. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Hyzon common stock prior to the Business Combination have been retroactively restated as shares reflecting an exchange ratio of 1.772 (the “Exchange Ratio”). Liquidity and Capital Resources The Company has incurred losses from operations since inception. The Company incurred net losses of $11.0 million and $8.4 million for the three months ended March 31, 2022 and 2021, respectively, and accumulated deficit amounted to $37.2 million and $28.1 million as of March 31, 2022 and December 31, 2021, respectively. Net cash used in operating activities was $29.2 million and $9.5 million for the three months ended March 31, 2022 and 2021, respectively. On July 16, 2021, the Company received $512.9 million in cash, net of redemption and transaction costs as a result of the Business Combination. As of March 31, 2022, the Company has $407.3 million in unrestricted cash. Management expects that the Company’s cash, after taking consideration of the current projections of cash flow used in operating and investing activities, will be sufficient to meet its liquidity requirements for at least one year from the issuance date of these unaudited consolidated financial statements. Based on the above considerations, the Company’s unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and liquidation of liabilities during the normal course of operations. Risks and Uncertainties The Company is subject to a variety of risks and uncertainties common to early-stage companies with a history of losses and are expected to incur significant expenses and continuing losses for the foreseeable future. The risks and uncertainties include, but not limited to, further development of its technology, marketing and distribution channels, further development of its supply chain and manufacturing, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and the ability to secure additional capital to fund operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, in the Company’s consolidated financial statements included in the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2021. There have been no material changes to the significant accounting policies during the three-month period ended March 31, 2022. Recent Accounting Pronouncements Recently issued accounting pronouncements not yet adopted In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2021-08, Business Combination (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Accounting Standard Codification (“ASC”) 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The Company is in the process of assessing the impact of this guidance on its financial position, results of operations, or cash flow. The Company considers the applicability and impact of all ASUs. The Company assessed ASUs not listed above and determined that they either were not applicable or were not expected to have a material impact on the unaudited consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Note 3. Revenue For the three months ended March 31, 2022, the Company recognized $0.4 million in sales of fuel cell systems. The Company did not recognize any revenue for the three months ended March 31, 2021. Contract Balances Contract liabilities relate to the advance consideration invoiced or received from customers for products and services prior to satisfying a performance obligation or in excess of amounts allocated to a previously satisfied performance obligation. These amounts are included within Contract liabilities in the unaudited Consolidated Balance Sheets. The carrying amount of contract liabilities included in the accompanying unaudited Consolidated Balance Sheets was $11.1 million and $11.2 million as of March 31, 2022, and December 31, 2021, respectively.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following (in thousands): March 31, December 31, Raw materials $ 20,051 $ 15,727 Work in process 6,031 3,518 Total inventory $ 26,082 $ 19,245

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Note 5. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): March 31, December 31, Deposit for fuel cell components (Note 14) $ 5,905 $ 5,008 Vehicle inventory deposits 10,068 7,907 Production equipment deposits 1,552 4,423 Other prepaids 5,142 2,477 Prepaid Insurance 2,744 5,079 VAT receivable from government 3,637 2,173 VAT receivable from customers 903 903 Total prepaid expenses and other current assets $ 29,951 $ 27,970

Property, Plant, and Equipment,

Property, Plant, and Equipment, net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, net	Note 6. Property, Plant, and Equipment, net Property, plant, and equipment, net consisted of the following (in thousands): March 31, December 31, 2021 Land and building $ 2,818 $ 2,818 Machinery and equipment 11,679 8,792 Software 1,176 596 Leasehold improvements 1,153 968 Construction in progress 2,693 1,828 Total Property, plant, and equipment 19,519 15,002 Less: Accumulated depreciation and amortization (1,270) (691) Property, plant and equipment, net $ 18,249 $ 14,311

Accrued liabilities

Accrued liabilities	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued liabilities	Accrued liabilities Accrued liabilities consisted of the following (in thousands): March 31, December 31, Payroll and payroll related expenses $ 3,833 $ 2,247 Accrued professional fees 4,032 2,545 Other accrued expenses 1,169 1,234 Accrued liabilities $ 9,034 $ 6,026

Investments in Equity Securitie

Investments in Equity Securities	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Equity Securities	Investments in Equity Securities The Company owns common shares, participation rights, and options to purchase additional common shares in certain private companies. On a non-recurring basis, the carrying value is adjusted for changes resulting from observable price changes in orderly transactions for identical or similar investments in the same issuer. Included in Change in fair value of equity securities in the unaudited Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2022 is a $12.5 million gain from the equity investment in Raven SR, LLC (“Raven”). The investment in Raven’s common shares and options were initially accounted for at cost of $2.5 million. Subsequently in March 2022, there was an observable change in price of Raven’s common shares. The change in observable price of Raven’s common shares also results in a remeasurement of the investment in Raven’s options as of the date that the observable transaction took place. The fair value of the investment in Raven’s common shares was determined based on observable market prices of identical instruments in less active markets and is classified accordingly as Level 2 in the fair value hierarchy. Due to certain anti-dilution rights included in the options held by the Company, the fair value was determined utilizing a Monte-Carlo simulation model. Accordingly, this was determined to be a Level 3 measurement in the fair value hierarchy. The most significant assumptions in the model included the transaction price of the underlying common shares at the transaction date, expected volatility, risk free rate, and certain assumptions around the likelihood, size, and timing of potential future equity raises by Raven. As of March 31, 2022, the Company determined the fair value of the investment in Raven’s common shares and options to be $6.5 million and $8.5 million, respectively. The following table summarizes the total carrying value of held securities, measured as the total initial cost plus cumulative net gain (loss) (in thousands): March 31, December 31, Total initial cost basis $ 4,948 $ 4,948 Adjustments: Cumulative unrealized gain 12,530 — Carrying amount, end of period $ 17,478 $ 4,948

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three months ended March 31, 2022, the Company recorded a net discrete tax expense of $0.5 million primarily associated with the establishment of a deferred tax liability that is not expected to offset available deferred tax assets. The Company did not record a provision for income taxes for the three months ended March 31, 2021 because the Company generated tax losses. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company assesses all available evidence, both positive and negative, to determine the amount of any required valuation allowance within each taxing jurisdiction. Full valuation allowances have been established for the Company’s operations in all jurisdictions. As of March 31, 2022, and December 31, 2021, the Company had net deferred tax assets of approximately $25.1 million and $21.9 million, respectively, each of which was fully offset by a valuation allowance.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company follows the guidance in ASC Topic 820, Fair Value Measurement. For assets and liabilities measured at fair value on a recurring and nonrecurring basis, a three-level hierarchy of measurements based upon observable and unobservable inputs is used to arrive at fair value. The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. As of March 31, 2022, and December 31, 2021, the carrying amount of accounts receivable, other current assets, other assets, accounts payable, and accrued and other current liabilities approximated their estimated fair value due to their relatively short maturities. The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): As of March 31, 2022 Level 1 Level 2 Level 3 Total Warrant liability – Private Placement Warrants $ — $ 13,705 $ — $ 13,705 Earnout shares liability — — 100,520 100,520 As of December 31, 2021 Level 1 Level 2 Level 3 Total Warrant liability – Private Placement Warrants $ 15,228 $ — $ — $ 15,228 Earnout shares liability — — 103,761 103,761 Private Placement Warrants Following the lapsing of certain transferability restrictions subsequent to the Business Combination, the features of the Private Placement Warrants became identical to the Public Warrants, except that so long as they are held by the sponsor of the Business Combination, the Private Placement Warrants are not redeemable by the Company. Due to these similarities, the estimated fair value of the Private Placement Warrants was equal to the fair value of the Public Warrants at March 31, 2022. Earnout to Common Stockholders The fair value of the earnout shares was estimated by utilizing a Monte-Carlo simulation model. The inputs into the Monte-Carlo pricing model included significant unobservable inputs. The following table provides quantitative information regarding Level 3 fair value measurement inputs: March 31, December 31, 2021 Stock price $ 6.39 $ 6.49 Risk-free interest rate 2.4 % 1.2 % Volatility 90.00 % 90.00 % Remaining term (in years) 4.29 4.54 The following table presents the changes in the liabilities for Private Placement Warrants and Earnout during the three months ended March 31, 2022 (in thousands): Private Placement Warrants Earnout Balance as of December 31, 2021 $ 15,228 $ 103,761 Change in estimated fair value (1,523) (3,241) Balance as of March 31, 2022 $ 13,705 $ 100,520 The Company performs routine procedures such as comparing prices obtained from independent sources to ensure that appropriate fair values are recorded.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company is subject to, and may become a party to, a variety of litigation, other claims, suits, indemnity demands, regulatory actions, and government investigations and inquiries in the ordinary course of business. The Company is party to current legal proceedings as discussed more fully below. Three related putative securities class action lawsuits were filed between September 30, 2021 and November 15, 2021, in the U.S. District Court for the Western District of New York against the Company, certain of the Company’s current officers and directors and certain officers and directors of DCRB: (Kauffmann v. Hyzon Motors Inc., et al. (No. 21-cv-06612-CJS), Brennan v. Hyzon Motors Inc., et al. (No. 21-cv-06636- CJS), and Miller v. Hyzon Motors Inc. et al. (No. 21-cv-06695-CJS)), asserting violations of federal securities laws. The complaints generally allege that the Company and individual defendants made materially false and misleading statements relating to the nature of the Company’s customer contracts, vehicle orders, and sales and earnings projections, based on allegations in a report released on September 28, 2021, by Blue Orca Capital, an investment firm that indicated that it held a short position in our stock and which has made numerous allegations about the Company. These lawsuits have been consolidated under the caption In re Hyzon Motors Inc. Securities Litigation (Case No. 6:21-cv-06612-CJSMWP), and on March 21, 2022, the court-appointed lead plaintiff filed a consolidated amended complaint seeking monetary damages. Between December 16, 2021 and January 14, 2022, three related shareholder derivative lawsuits were filed in the U.S. District Court for the Western District of New York: (Lee v. Anderson et al. (No. 21-cv-06744-CJS); Révész v. Anderson et al. (No. 22-cv-06012-CJS); and Shorab v. Anderson et al. (No. 22-cv-06023CJS)). On February 2, 2022, a similar shareholder derivative lawsuit was filed in the U.S. District Court for the District of Delaware (Yellets v. Gu et al. (No. 22-cv-00156), and on February 3, 2022, another similar shareholder derivative lawsuit was filed in the Supreme Court of the State of New York, Kings County (Ruddiman v. Anderson et al. (No. 503402/2022)). These lawsuits name as defendants the Company’s current directors and certain former directors of DCRB, along with the Company as a nominal defendant, and generally allege that the individual defendants breached their fiduciary duties by making or failing to prevent the misrepresentations alleged in the consolidated securities class action, and assert claims for violations of federal securities laws, breach of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets. These lawsuits generally seek equitable relief and monetary damages. On March 18, 2022, a putative class action complaint, Malork v. Anderson et al. (C.A. No. 2022-0260- KSJM), was filed in the Delaware Court of Chancery against certain officers and directors of DCRB, DCRB’s sponsor, and certain investors in DCRB’s sponsor, alleging that the director defendants and controlling shareholders of DCRB’s sponsor breached their fiduciary duties in connection with the merger between DCRB and Legacy Hyzon. The complaint seeks equitable relief and monetary damages. Between January 26, 2022 and March 28, 2022, Hyzon received four demands for books and records pursuant to Section 220 of the Delaware General Corporation Law from stockholders who state they are investigating whether to file similar derivative or stockholder lawsuits, among other purposes. The proceedings are subject to uncertainties inherent in the litigation process. We cannot predict the outcome of these matters or estimate the possible loss or range of possible loss, if any. On January 12, 2022, the Company announced that it had received a subpoena from the SEC for production of documents and information, including documents and information related to the allegations made in the September 28, 2021 report issued by Blue Orca Capital. The Company is cooperating with the SEC. Regardless of outcome, such proceedings or claims can have an adverse impact on us because of legal defense and settlement costs, our obligations to indemnify third parties, diversion of resources, and other factors, and there can be no assurances that favorable outcomes will be obtained. Based on the early-stage nature of these cases, we cannot predict the outcome of these matters or estimate the possible loss or range of possible loss, if any.

Stock-based Compensation Plans

Stock-based Compensation Plans	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Plans	Stock-based Compensation Plans The following table summarizes the Company’s stock option and Restricted Stock Unit (“RSU”) activity: Stock Options RSUs Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual (Years) Aggregate Intrinsic Value (in 000s) Number of RSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 19,311,140 $ 1.29 13.07 100,885 1,852,685 $ 6.14 Granted 188,232 $ 6.29 — — 107,310 $ 5.22 Exercised or released (30,008) $ 1.13 — — (95,576) $ 3.53 Forfeited/Cancelled (38,984) $ 1.13 — — — $ — Outstanding at March 31, 2022 19,430,380 $ 1.30 12.78 99,280 1,864,419 $ 6.22 Vested and expected to vest, March 31, 2022 13,892,880 $ 1.15 12.39 73,271 1,864,419 $ 6.22 Exercisable and vested at March 31, 2022 12,116,476 $ 1.13 13.15 63,749 — As of March 31, 2022, there was $2.5 million of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 4.46 years. RSUs granted under the Company’s equity incentive plans typically vest over a four equity classified. The fair value of restricted shares is determined based upon the stock price on the date of grant. As of March 31, 2022, unrecognized compensation costs related to unvested RSUs of $9.6 million is expected to be recognized over a remaining weighted average period of 3.42 years. Earnout to Other Equity Holders

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock The Company is authorized to issue 400,000,000 shares of common stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each share. At March 31, 2022 and December 31, 2021, there were 247,881,568 and 247,758,412 shares of Class A common stock issued and outstanding, respectively. Warrants As of March 31, 2022 and December 31, 2021, there were 11,286,242 Public Warrants and 8,014,500 Private Placement Warrants, for a total of 19,300,742 warrants outstanding. Ardour Subscription Agreement As of March 31, 2022, and December 31, 2021, there were 230,048 and 293,087 Ardour Warrants outstanding, respectively. In the three months ended March 31, 2022, the Company issued 28,333 shares of common stock for the cashless exercise of certain Ardour Warrants. Equity Repurchase Program On November 17, 2021, the Company’s board of directors authorized the repurchase of up to $5.0 million of its outstanding common stock and/or Public Warrants. The timing and amount of any share repurchases under the Company’s share repurchase authorization will be determined by management based on market conditions and other considerations. Such repurchases may be executed in the open market. As of December 31, 2021, the Company had repurchased 256,977 public warrants for $0.5 million. In the three months ended March 31, 2022, the Company repurchased an additional 15,600 public warrants for $31 thousand. The Company suspended the share repurchase program as of January 5, 2022.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Horizon IP Agreement In January 2021, the Company entered into an intellectual property agreement (the “Horizon IP Agreement”) with Jiangsu Qingneng New Energy Technologies Co., Ltd. and Shanghai Qingneng Horizon New Energy Ltd. (together, “JS Horizon”) both of which are affiliates of the Company’s ultimate parent, Horizon. In September 2021, Jiangsu Horizon Powertrain Technologies Co. Ltd. (“JS Powertrain”) was an added party to the agreement. Pursuant to the agreement the parties convey to each other certain rights in intellectual property relating to Hyzon’s core fuel cell and mobility product technologies, under which Hyzon was to pay JS Horizon and JS Powertrain a total fixed payment of $10 million. As of March 31, 2022, the full $10 million has been paid, $6.9 million was paid in 2021 and the remaining $3.1 million was paid in February 2022. Related Party Payables and Receivables Horizon Fuel Cell Technologies and Related Subsidiaries Hyzon utilizes Horizon to supply certain fuel cell components. In March 2021, the Company made a deposit payment to Horizon in the amount of $5.0 million to secure fuel cell components. This payment is included in prepaid expenses as none of the components have yet been received. In addition, the Company made other deposit payments to purchase fuel cell systems and components from Horizon and its affiliates. For the three months ended March 31, 2022, Cost of revenue of $0.1 million for fuel cell components purchased from Horizon and its affiliates were recorded in the Company’s unaudited Consolidated Statements of Operations and Comprehensive Loss. Certain employees of Horizon and its affiliates provide services to the Company. Based on an analysis of the compensation costs incurred by Horizon and an estimate of the proportion of effort spent by such employees on each entity, an allocation of approximately $0.3 million and $0.1 million was recorded in the Company’s unaudited Consolidated Statements of Operations and Comprehensive Loss related to such services for the three months ended March 31, 2022, a nd 2021, respectively. The related party liability to Horizon and its affiliates is $0.6 million and $3.6 million as of March 31, 2022 and December 31, 2021, respectively. Holthausen and Affiliates The Company entered into a joint venture agreement in October 2020 to create Hyzon Motors Europe B.V. (“Hyzon Europe”) with Holthausen Clean Technology Investments B.V. (“Holthausen”). As Hyzon Europe builds out its production facilities, it relies on Holthausen and its affiliates for certain production resources that result in related party transactions. In addition, both companies rely on certain suppliers, including Horizon. The Company currently owns 50.5% of the equity interests of Hyzon Europe. On December 31, 2021, Hyzon executed a non-binding Letter of Intent (“LOI”) with Holthausen to increase its stake to 75% in Hyzon Europe. Concurrent with the signing of this LOI, €1 million refundable deposit was paid to Holthausen, approximately $1.1 million in U.S. dollars (“USD”). This deposit is recorded in the unaudited Consolidated Balance Sheets in Prepaid expenses and other current assets. On May 5, 2022, the Company entered into a Stock Purchase Agreement (“SPA”) with Holthausen, whereby the Company agreed to purchase 735,000 shares Holthausen holds in Hyzon Europe. When the transaction closes, the Company will own 75% of the issued and outstanding shares of Hyzon Europe, and Holthausen will own 25%. As part of the SPA, Holthausen agreed to transfer to Hyzon Europe all of its shares of stock in Holthausen Clean Technology B.V, private limited liability company registered in the Netherlands. The Company agreed to a total purchase price of €27.0 million, approximately $28.5 million in USD, in a combination of cash and equity of the Company. For the three months ended March 31, 2022, the Company paid $0.1 million in director services to Carl Holthausen and Max Holthausen as executives of Hyzon Europe. As of March 31, 2022 and December 31, 2021, the Company has a net related party receivable in the amount of $0.4 million and $0.3 million, respectively from Holthausen.

Loss per share

Loss per share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Loss per share	Loss per share The following table presents the information used in the calculation of our basic and diluted loss per share attributable to Hyzon common stockholders (in thousands, except per share data): Three Months Ended 2022 2021 Net loss attributable to Hyzon $ (9,065) $ (8,147) Weighted average shares outstanding: Basic 247,940 166,201 Effect of dilutive securities — — Diluted 247,940 166,201 Loss per share attributable to Hyzon: Basic $ (0.04) $ (0.05) Diluted $ (0.04) $ (0.05) The weighted average number of shares outstanding prior to Business Combination were converted at the Exchange Ratio. Potentially dilutive shares are excluded from the computation of diluted net loss when their effect was antidilutive. The following outstanding common stock equivalents (in thousands) were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive. Three Months Ended 2022 2021 Restricted stock units 1,864 872 Stock options with service conditions 12,121 12,525 Stock options for former CTO 1,772 1,772 Stock options with market and performance conditions 5,538 5,538 Private placement warrants 8,015 — Public Warrants 11,286 — Earnout shares 23,250 — Hongyun warrants 31 — Ardour warrants 230 326

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the requirements and rules of the Securities and Exchange Commission (“SEC”) regarding interim reporting. Certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, the unaudited consolidated financial statements should be read in connection with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2021. The Company’s unaudited consolidated financial statements include the accounts and operations of the Company and its wholly owned subsidiaries including variable interest entity arrangements in which the Company is the primary beneficiary. All intercompany accounts and transactions are eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation for the periods presented. Results of operations reported for interim periods presented are not necessarily indicative of results for the entire year or any other periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently issued accounting pronouncements not yet adopted In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2021-08, Business Combination (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Accounting Standard Codification (“ASC”) 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The Company is in the process of assessing the impact of this guidance on its financial position, results of operations, or cash flow. The Company considers the applicability and impact of all ASUs. The Company assessed ASUs not listed above and determined that they either were not applicable or were not expected to have a material impact on the unaudited consolidated financial statements.

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventory consisted of the following (in thousands): March 31, December 31, Raw materials $ 20,051 $ 15,727 Work in process 6,031 3,518 Total inventory $ 26,082 $ 19,245

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): March 31, December 31, Deposit for fuel cell components (Note 14) $ 5,905 $ 5,008 Vehicle inventory deposits 10,068 7,907 Production equipment deposits 1,552 4,423 Other prepaids 5,142 2,477 Prepaid Insurance 2,744 5,079 VAT receivable from government 3,637 2,173 VAT receivable from customers 903 903 Total prepaid expenses and other current assets $ 29,951 $ 27,970

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant, and equipment, net consisted of the following (in thousands): March 31, December 31, 2021 Land and building $ 2,818 $ 2,818 Machinery and equipment 11,679 8,792 Software 1,176 596 Leasehold improvements 1,153 968 Construction in progress 2,693 1,828 Total Property, plant, and equipment 19,519 15,002 Less: Accumulated depreciation and amortization (1,270) (691) Property, plant and equipment, net $ 18,249 $ 14,311

Accrued liabilities (Tables)

Accrued liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): March 31, December 31, Payroll and payroll related expenses $ 3,833 $ 2,247 Accrued professional fees 4,032 2,545 Other accrued expenses 1,169 1,234 Accrued liabilities $ 9,034 $ 6,026

Investments in Equity Securit_2

Investments in Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Total carrying value of held securities	The following table summarizes the total carrying value of held securities, measured as the total initial cost plus cumulative net gain (loss) (in thousands): March 31, December 31, Total initial cost basis $ 4,948 $ 4,948 Adjustments: Cumulative unrealized gain 12,530 — Carrying amount, end of period $ 17,478 $ 4,948

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis	The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands): As of March 31, 2022 Level 1 Level 2 Level 3 Total Warrant liability – Private Placement Warrants $ — $ 13,705 $ — $ 13,705 Earnout shares liability — — 100,520 100,520 As of December 31, 2021 Level 1 Level 2 Level 3 Total Warrant liability – Private Placement Warrants $ 15,228 $ — $ — $ 15,228 Earnout shares liability — — 103,761 103,761
Summary of Quantitative Information Regarding Level 3 Fair Value Measurement Inputs	The following table provides quantitative information regarding Level 3 fair value measurement inputs: March 31, December 31, 2021 Stock price $ 6.39 $ 6.49 Risk-free interest rate 2.4 % 1.2 % Volatility 90.00 % 90.00 % Remaining term (in years) 4.29 4.54
Summary of the Changes in the Liability for Private Placement Warrants	The following table presents the changes in the liabilities for Private Placement Warrants and Earnout during the three months ended March 31, 2022 (in thousands): Private Placement Warrants Earnout Balance as of December 31, 2021 $ 15,228 $ 103,761 Change in estimated fair value (1,523) (3,241) Balance as of March 31, 2022 $ 13,705 $ 100,520

Stock-based Compensation Plans

Stock-based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of stock option and RSU activity	The following table summarizes the Company’s stock option and Restricted Stock Unit (“RSU”) activity: Stock Options RSUs Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual (Years) Aggregate Intrinsic Value (in 000s) Number of RSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 19,311,140 $ 1.29 13.07 100,885 1,852,685 $ 6.14 Granted 188,232 $ 6.29 — — 107,310 $ 5.22 Exercised or released (30,008) $ 1.13 — — (95,576) $ 3.53 Forfeited/Cancelled (38,984) $ 1.13 — — — $ — Outstanding at March 31, 2022 19,430,380 $ 1.30 12.78 99,280 1,864,419 $ 6.22 Vested and expected to vest, March 31, 2022 13,892,880 $ 1.15 12.39 73,271 1,864,419 $ 6.22 Exercisable and vested at March 31, 2022 12,116,476 $ 1.13 13.15 63,749 —

Loss per share (Tables)

Loss per share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the information used in the calculation of our basic and diluted loss per share attributable to Hyzon common stockholders (in thousands, except per share data): Three Months Ended 2022 2021 Net loss attributable to Hyzon $ (9,065) $ (8,147) Weighted average shares outstanding: Basic 247,940 166,201 Effect of dilutive securities — — Diluted 247,940 166,201 Loss per share attributable to Hyzon: Basic $ (0.04) $ (0.05) Diluted $ (0.04) $ (0.05)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following outstanding common stock equivalents (in thousands) were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive. Three Months Ended 2022 2021 Restricted stock units 1,864 872 Stock options with service conditions 12,121 12,525 Stock options for former CTO 1,772 1,772 Stock options with market and performance conditions 5,538 5,538 Private placement warrants 8,015 — Public Warrants 11,286 — Earnout shares 23,250 — Hongyun warrants 31 — Ardour warrants 230 326

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Detail) $ / shares in Units, $ in Thousands	Jul. 16, 2021USD ($)$ / shares	Mar. 31, 2022USD ($)$ / shares	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)$ / shares
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, par value (dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001
Net loss		$ (11,022)	$ (8,389)
Accumulated deficit		(37,182)		$ (28,117)
Cash flows used in operating activities		(29,248)	$ (9,470)
Unrestricted cash		$ 407,333		$ 445,146
Legacy Hyzon
Business Combination, Separately Recognized Transactions [Line Items]
Cash received in transaction net of redemption and transaction costs	$ 512,900
Legacy Hyzon | Common Stock Class A
Business Combination, Separately Recognized Transactions [Line Items]
Stockholders equity note, stock split, conversion ratio (in shares)	1.772

Revenue (Detail)

Revenue (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 11.1	$ 11.2
Remaining performance obligations	$ 22	$ 22.4
Revenue, performance obligation, description of timing	The Company expects to recognize substantially all its remaining performance obligations as revenue over the next 12 months
Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 0.4

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 20,051	$ 15,727
Work in process	6,031	3,518
Total inventory	$ 26,082	$ 19,245

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deposit for fuel cell components (Note 14)	$ 5,905	$ 5,008
Vehicle inventory deposits	10,068	7,907
Production equipment deposits	1,552	4,423
Other prepaids	5,142	2,477
Prepaid Insurance	2,744	5,079
VAT receivable from government	3,637	2,173
VAT receivable from customers	903	903
Total prepaid expenses and other current assets	$ 29,951	$ 27,970

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property plant equipment gross	$ 19,519	$ 15,002
Less: Accumulated depreciation and amortization	(1,270)	(691)
Property, plant and equipment, net	18,249	14,311
Land and building
Property, Plant and Equipment [Line Items]
Property plant equipment gross	2,818	2,818
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property plant equipment gross	11,679	8,792
Software
Property, Plant and Equipment [Line Items]
Property plant equipment gross	1,176	596
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant equipment gross	1,153	968
Construction in progress
Property, Plant and Equipment [Line Items]
Property plant equipment gross	$ 2,693	$ 1,828

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 0.6	$ 0.1

Accrued liabilities (Details)

Accrued liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Payroll and payroll related expenses	$ 3,833	$ 2,247
Accrued professional fees	4,032	2,545
Other accrued expenses	1,169	1,234
Accrued liabilities	$ 9,034	$ 6,026

Investments in Equity Securit_3

Investments in Equity Securities - Carrying Amount of Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Total initial cost basis			$ 4,948	$ 4,948
Adjustments:
Cumulative unrealized gain	$ 12,530		0
Investments in equity securities	17,478		$ 4,948
Change in fair value of equity securities	$ 12,530	$ 0

Investments in Equity Securit_4

Investments in Equity Securities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Cumulative unrealized gain	$ 12,530	$ 0
Total initial cost basis		4,948	$ 4,948
Investments in equity securities	17,478	4,948
Raven SR
Schedule of Equity Method Investments [Line Items]
Cumulative unrealized gain	12,500
Total initial cost basis		$ 2,500
Raven SR | Common Stock
Schedule of Equity Method Investments [Line Items]
Investments in equity securities	6,500
Raven SR | Options Held
Schedule of Equity Method Investments [Line Items]
Investments in equity securities	$ 8,500

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax assets net	$ 25,100		$ 21,900
Income tax expense	526	$ 0
Unrecognized tax benefit	0		0
Accrued interest and penalties	$ 0		$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	$ 100,520	$ 103,761
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earnout shares liability	100,520	103,761
Private Placements Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability – Private Placement Warrants	13,705	15,228
Private Placements Warrants | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability – Private Placement Warrants	0	15,228
Private Placements Warrants | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability – Private Placement Warrants	13,705	0
Private Placements Warrants | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability – Private Placement Warrants	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Quantitative Information Regarding Level 3 Fair Value Measurement Inputs (Detail) - Earnout shares liability	Mar. 31, 2022yr	Dec. 31, 2021	Jul. 16, 2021yr
Stock price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	6.39		6.49
Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	0.024		0.012
Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	0.9000	0.9000
Remaining term (in years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants and rights outstanding, measurement input	4.29		4.54

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of the Changes in the Liability for Private Placement Warrants (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Earnout shares liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance as of December 31, 2021	$ 103,761
Change in estimated fair value	(3,241)
Balance as of March 31, 2022	100,520
Private placement warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance as of December 31, 2021	15,228
Change in estimated fair value	(1,523)
Balance as of March 31, 2022	$ 13,705

Commitments and Contingencies (

Commitments and Contingencies (Details) - lawsuit	1 Months Ended	2 Months Ended
	Jan. 14, 2022	Mar. 28, 2022	Nov. 15, 2021
Commitments and Contingencies Disclosure [Abstract]
Number of class action lawsuits			3
Number of shareholder lawsuits	3
Number of demands for books and records		4

Stock-based Compensation Plan_2

Stock-based Compensation Plans - Summary of Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Stock options
Number of Options
Outstanding beginning balance (in shares)	19,311,140
Granted (in shares)	188,232
Exercised or released (in shares)	(30,008)
Forfeited/Cancelled (in shares)	(38,984)
Outstanding ending balance (in shares)	19,430,380	19,311,140
Vested an expected to vest (in shares)	13,892,880
Exercisable and vested (in shares)	12,116,476
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 1.29
Granted (in dollars per share)	6.29
Exercised or released (in dollars per share)	1.13
Forfeited/Cancelled (in dollars per share)	1.13
Outstanding, ending balance (in dollars per share)	1.30	$ 1.29
Vested and expected to vest (in dollars per share)	1.15
Exercisable and vested (in dollars per share)	$ 1.13
Weighted Average Remaining Contractual (Years)
Outstanding, (in years)	12 years 9 months 10 days	13 years 25 days
Vested and expected to vest (in years)	12 years 4 months 20 days
Exercisable and vested (in years)	13 years 1 month 24 days
Aggregate Intrinsic Value (in 000s)
Outstanding, beginning balance	$ 100,885
Outstanding, ending balance	99,280	$ 100,885
Vested and expected to vest	73,271
Exercisable and vested	$ 63,749
Restricted stock units
Number of RSUs
Outstanding, beginning balance (in shares)	1,864,419	1,852,685
Granted (in shares)	107,310
Exercised or released (in shares)	(95,576)
Outstanding, ending balance (in shares)	1,864,419	1,852,685
Vested and expected to vest (in shares)	1,864,419
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in dollars per share)	$ 6.22	$ 6.14
Granted (in dollars per share)	5.22
Exercised or released (in dollars per share)	3.53
Outstanding ending balance (in dollars per share)	6.22	$ 6.14
Vested and expected to vest (in dollars per share)	$ 6.22

Stock-based Compensation Plan_3

Stock-based Compensation Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to earnout awards	$ 1
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options		$ 9.6
Weighted average recognition period of stock-based compensation expense	3 years 5 months 1 day
Restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for RSUs	4 years
Restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for RSUs	5 years
Performance and Market Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to earnout awards	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options		$ 2.5
Weighted average recognition period of stock-based compensation expense	4 years 5 months 15 days

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Nov. 17, 2021	Jul. 16, 2021
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	400,000,000		400,000,000
Common stock, par value (dollars per share)	$ 0.0001		$ 0.0001		$ 0.0001
Common stock, shares issued (in shares)	247,881,568		247,758,412
Common stock, shares outstanding (In shares)	247,881,568		247,758,412
Class of warrant or right, outstanding (in shares)	19,300,742
Amount authorized for repurchase				$ 5,000
Public Warrants
Class of Stock [Line Items]
Class of warrant or right, outstanding (in shares)	11,286,242
Public warrants repurchased (in shares)	15,600	256,977
Cost of public warrants repurchased	$ 31		$ 500
Private Placement Warrants
Class of Stock [Line Items]
Class of warrant or right, outstanding (in shares)	8,014,500
DCRB trust | Business Combination
Class of Stock [Line Items]
Class of warrant or right, outstanding (in shares)	230,048		293,087
Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	400,000,000
Common stock, par value (dollars per share)	$ 0.0001
Common stock, shares issued (in shares)	247,881,568		247,758,412
Common stock, shares outstanding (In shares)	247,881,568		247,758,412

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	May 05, 2022USD ($)shares	May 05, 2022EUR (€)shares	Feb. 28, 2022USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021EUR (€)	Sep. 30, 2021USD ($)
Related Party Transaction [Line Items]
Compensation cost				$ 300,000	$ 100,000
Related party liability				600,000	3,600,000		$ 600,000
Net related party receivable				400,000		$ 300,000	400,000
Intellectual Property
Related Party Transaction [Line Items]
Horizon IP agreement payable									$ 10,000,000
Licensing Agreements
Related Party Transaction [Line Items]
Cost of intellectual property acquired			$ 3,100,000			6,900,000	$ 10,000,000
Subsequent Event | Forecast | Hyzon Europe
Related Party Transaction [Line Items]
Purchase price	$ 28,500,000	€ 27,000,000
Holthausen Clean Technology Investments B.V. | Subsequent Event | Forecast | Hyzon Europe
Related Party Transaction [Line Items]
Shares purchased in transaction | shares	735,000	735,000
Hyzon Europe | Holthausen Clean Technology Investments B.V. | Subsequent Event | Forecast
Related Party Transaction [Line Items]
Percent owned by Holthausen	25.00%	25.00%
Horizon Fuel Cell Technologies And Related Subsidiaries
Related Party Transaction [Line Items]
Fuel components purchased				$ 100,000
Joint Venture Agreement | Hyzon Europe
Related Party Transaction [Line Items]
Ownership percentage in equity method investment				50.50%			50.50%
Executive Officer
Related Party Transaction [Line Items]
Payments to related party				$ 100,000
Fuel Cell Technologies
Related Party Transaction [Line Items]
Deposit payment					$ 5,000,000
Letter Of Intent | Joint Venture Agreement
Related Party Transaction [Line Items]
Refundable deposit						$ 1,100,000		€ 1,000,000
Letter Of Intent | Joint Venture Agreement | Hyzon Motors, Inc. | Hyzon Europe
Related Party Transaction [Line Items]
Ownership percentage in equity method investment after increase						75.00%		75.00%
Letter Of Intent | Joint Venture Agreement | Hyzon Motors, Inc. | Subsequent Event | Forecast | Hyzon Europe
Related Party Transaction [Line Items]
Ownership percentage in equity method investment after increase	75.00%	75.00%

Loss per share - Schedule of Ea

Loss per share - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to Hyzon	$ (9,065)	$ (8,147)
Weighted average shares outstanding:
Basic (in shares)	247,940,000	166,201,000
Effect of dilutive securities (in shares)	0	0
Diluted (in shares)	247,940,000	166,201,000
Loss per share attributable to Hyzon:
Basic (dollars per share)	$ (0.04)	$ (0.05)
Diluted (dollars per share)	$ (0.04)	$ (0.05)

Loss per share - Schedule of An

Loss per share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,864,000	872,000
Stock options with service conditions
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	12,121,000	12,525,000
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	5,538,000	5,538,000
Stock options | Former Chief Technology Officer
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,772,000	1,772,000
Warrant | Private placement warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	8,015,000	0
Warrant | Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	11,286,000	0
Warrant | Hongyun warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	31,000	0
Warrant | Ardour warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	230,000	326,000
Earnout shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	23,250,000	0