Hyzon Motors (HYZN) 10-Q/A 14 Mar 23 2022 Q1 Quarterly report (amended) Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Mar. 01, 2023
Document Information [Line Items]
Document Type	10-Q/A
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		244,559,301
Entity Central Index Key	0001716583
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	true
Amendment Description	EXPLANATORY NOTEHyzon Motors Inc. (“Hyzon”, the “Company”, ‘we”, “our” or “us”) filed our Quarterly Report on Form 10-Q for the period ended March 31, 2022 (the “Original Filing”) with the Securities and Exchange Commission ("SEC") on May 13, 2022. This Amendment No. 1 on Form 10-Q/A (this "Form 10-Q/A") is being filed to amend and restate certain items contained in the Original Filing (the "Restatement").Restatement Background As previously reported in the Company's Current Report on Form 8-K filed with the SEC on August 17, 2022, the Audit Committee of the Board of Directors (the "Board") of the Company (the “Audit Committee”), based on the recommendation of management, determined that the Company's previously issued financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company’s previously issued financial statements included in the Company’s Original Filing should no longer be relied upon and require restatement because of issues regarding revenue recognition and internal controls and procedures, primarily pertaining to our China operations. As further previously reported in the Company's Current Report on Form 8-K filed with the SEC on February 9, 2023, the Audit Committee, based on the recommendation of management, determined that the Company’s previously issued financial statements included in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2021 should no longer be relied upon and also require restatement primarily because of issues regarding revenue recognition relating to its European joint venture operations. For a more detailed discussion of the Restatement, refer to Note 2. Restatement of Previously Issued Financial Statements to the consolidated financial statements of the Company included herein. Special Committee InvestigationAs previously reported in the Company's Current Report on Form 8-K filed with the SEC on August 4, 2022, in connection with the preparation of the Company's financial results for the period ended June 30, 2022, the Board appointed a committee of Board members (the "Special Committee") to investigate, with the assistance of outside counsel and other advisors, the issues described above regarding revenue recognition and internal controls and procedures that were brought to the attention of the Board by management (the "Investigation"). The preliminary findings of the Investigation were completed in January 2023, and the final findings were issued in March 2023 as discussed in this Explanatory Note below. Investigation with Respect to China OperationsOn January 12, 2022, the Company announced the delivery of 87 fuel cell powered heavy-duty vehicles in 2021, which included 82 vehicles delivered to customers in China. In July 2022, management discovered and brought to the attention of the Board that certain vehicles may not have met the criteria necessary to recognize revenue as of December 31, 2021. The Special Committee was formed to conduct an investigation regarding the Company’s revenue recognition timing and internal controls and procedures, primarily pertaining to the Company’s China operations during the second half of 2021 and the first half of 2022. The Investigation confirmed matters discovered by management in July 2022 that certain vehicles delivered to customers in China in December 2021 were not operable on hydrogen at the time of delivery (i.e., were not commissioned). As part of its internal review, the Company determined that the assembly of those vehicles was complete at the time of initial delivery but they had not undergone final commissioning, which generally consists of injecting hydrogen through the fuel cell powertrain system and conducting other tests necessary to ensure that the hydrogen fuel cell will power the vehicle. Additionally, based on the Investigation’s findings, the Company determined that it did not have an appropriate control environment focused on certain operational processes and procedures such as a formalized commissioning policy and a quality assurance process. Based on the Investigation's findings, the Company concluded that the Company's contractual performance obligation to deliver functioning fuel cell electric vehicles (“FCEVs”) was not fully satisfied for revenue recognition purposes under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). For additional information regarding the corrections to the financial statements, refer to Note 2. Restatement of Previously Issued Financial Statements to the consolidated financial statements of the Company included herein. Correction of the errors is also reflected in the restated annual financial statements for the year ended December 31, 2021 included in the Company’s amended Annual Report on Form 10-K/A. Investigation with Respect to European OperationsThe Special Committee identified certain issues associated with Hyzon Motors Europe B.V. ("Hyzon Europe"), the Company's European joint venture. The Investigation revealed that certain former members of Hyzon Europe's senior management team created a workplace culture where employees did not feel comfortable raising concerns. Additionally, the Investigation revealed that for five vehicles for which Hyzon Europe recognized revenue in 2021, Hyzon Europe subsequently performed various levels of work and repair efforts on such vehicles after revenue had been recognized.Consequently, the Company conducted an internal accounting review for its European customer arrangements. This internal accounting review concluded that for the Hyzon Europe customer contracts which were assumed from Holthausen Clean Technology B.V. in July 2021, the Company did not appropriately analyze and record revenue and related balances associated with these arrangements. More specifically, the Company determined that instead of manufacturing or assembling FCEVs that it owned for sale to customers, Hyzon Europe was providing these customers with vehicle retrofit services to convert the customers' internal combustion engine (“ICE”) powered vehicles to hydrogen FCEVs. Therefore, Hyzon Europe should have recognized revenue over time utilizing an input method rather than recording revenue at a point in time. For additional information regarding the corrections to the financial statements, refer to Note 2. Restatement of Previously Issued Financial Statements to the consolidated financial statements of the Company included herein. Correction of errors is also reflected in the restated annual financial statements for the year ended December 31, 2021 included in the Company’s amended Annual Report on Form 10-K/A and the interim financial statements for the period ended September 30, 2021 included in the Company's amended Quarterly Report on Form 10-Q/A.Transaction CostsOn July 16, 2021, legacy Hyzon Motors Inc. (“Legacy Hyzon”) and now named Hyzon Motors USA Inc. 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. The Company has adjusted its prior allocation of transaction costs incurred in connection with the Business Combination to reflect the allocation of the correct balance of Company incurred transaction costs between the liability classified earnout arrangement and the newly issued equity instruments in the Business Combination in the third quarter of 2021. The adjustment resulted in a reduction of amounts previously allocated to the earnout liability and recognized as expense, offset by an equal increase of transaction costs allocated to the newly issued equity instruments and recorded against additional paid-in capital. For additional information regarding the corrections to the financial statements, refer to Note 2. Restatement of Previously Issued Financial Statements to the consolidated financial statements of the Company included herein. Correction of the error also is reflected in the restated financial statements for the year ended December 31, 2021 included in the Company’s amended Annual Report on Form 10-K/A and the period ended September 30, 2021 included in the Company's amended Quarterly Report on Form 10-Q/A.Other Immaterial ErrorsIn addition to the errors described above, the Company’s previously issued financial statements included in the Company’s Original Filing and the Company's previously issued audited annual financial information included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2021 and for the Company’s previously issued unaudited quarterly financial information included in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2021, have been corrected in the amended filings to include previously unrecorded immaterial adjustments identified in audits or reviews of prior financial statements (the “Other Immaterial Errors”). For additional information regarding the Other Immaterial Errors, refer to Note 2. Restatement of Previously Issued Financial Statements to the consolidated financial statements of the Company included herein. The errors described above and the Other Immaterial Errors in this amended Quarterly Report on Form 10-Q/A did not impact cash or the economics of the Company's existing commercial arrangements. Internal Control ConsiderationsIn connection with the Restatement, the Company has concluded there were material weaknesses in the Company’s internal control over financial reporting as of March 31, 2022 and its disclosure controls and procedures were not effective as of March 31, 2022. Management is taking steps to remediate the material weaknesses in our internal control over financial reporting. For a discussion of management’s consideration of our disclosure controls and procedures, internal control over financial reporting, and the material weaknesses identified, see Part I, Item 4. Controls and Procedures of this Form 10-Q/A.Items Amended in this Form 10-Q/AThis Form 10-Q/A presents the Original Report, amended and restated with modifications as necessary to reflect the correction of Restatement Items and Other Immaterial Errors. The following items have been amended:    •Part I - Item 1. Financial Statements •Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations•Part I - Item 4. Controls and Procedures •Part II - Item 1A. Risk Factors •Part II - Item 6. Exhibits Except as described above and in Note 17. Subsequent Events, this Form 10-Q/A does not amend, update or change any other items or disclosures in the Original Filing and does not purport to reflect any information or events subsequent to the filing thereof. As such, this Form 10-Q/A speaks only as of the date the Original Filing was filed, and the Company has not undertaken herein to amend, supplement, or update any information contained in the Original Filing to give effect to any subsequent events. Among other things, forward-looking statements made in the Original Filing have not been revised to reflect events, results or developments that occurred or facts that became known to us after the date of the Original Filing, other than the Restatement. In addition, in accordance with SEC rules, this Form 10-Q/A includes updated certifications from our Chief Executive Officer as Exhibits 31.1 and 32.1 dated as of the filing date of this Form 10-Q/A. Accordingly, this Form 10-Q/A should be read in conjunction with our filings made with the SEC subsequent to the filing of the Original Filing, including any amendments to those filings.
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	812	2,956
Related party receivable	417	264
Inventory	28,397	20,927
Prepaid expenses and other current assets	28,914	26,852
Total current assets	465,873	496,145
Property, plant, and equipment, net	17,345	14,346
Right-of-use assets	10,961	10,265
Investments in equity securities	17,478	4,948
Other assets	5,292	4,575
Total Assets	516,949	530,279
Current liabilities
Accounts payable	7,799	7,980
Accrued liabilities	10,220	6,770
Related party payables	648	3,695
Contract liabilities	8,178	10,925
Current portion of lease liabilities	2,409	1,886
Total current liabilities	29,254	31,256
Long term liabilities
Lease liabilities	9,308	8,830
Private placement warrant liability	13,705	15,228
Earnout liability	100,520	103,761
Deferred income taxes	526	0
Other liabilities	1,142	1,139
Total liabilities	154,455	160,214
Commitments and contingencies (Note 12)
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	401,862	400,826
Accumulated deficit	(32,935)	(26,412)
Accumulated other comprehensive gain	463	378
Total Hyzon Motors Inc. stockholders’ equity	369,415	374,817
Noncontrolling interest	(6,921)	(4,752)
Total Stockholders’ Equity	362,494	370,065
Total Liabilities and Stockholders’ Equity	$ 516,949	$ 530,279

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	$ 2,888	$ 0
Operating expense:
Cost of revenue	653	0
Research and development	6,936	627
Selling, general, and administrative	19,752	3,146
Total operating expenses	27,341	3,773
Loss from operations	(24,453)	(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	(1,150)	(28)
Interest income (expense), net	17	(4,588)
Total other income (expense)	16,161	(4,616)
Net loss before income taxes	(8,292)	(8,389)
Income tax expense	526	0
Net loss	(8,818)	(8,389)
Less: Net loss attributable to noncontrolling interest	(2,295)	(242)
Net loss attributable to Hyzon	(6,523)	(8,147)
Comprehensive loss:
Net loss	(8,818)	(8,389)
Foreign currency translation adjustment	211	(29)
Comprehensive loss	(8,607)	(8,418)
Less: Comprehensive loss attributable to noncontrolling interest	(2,169)	(233)
Comprehensive loss attributable to Hyzon	$ (6,438)	$ (8,185)
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ (0.03)	$ (0.05)
Diluted (dollars per share)	$ (0.03)	$ (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 Stock Legacy Common Stock	Common Stock Common 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, Adjustment Common Stock Legacy Common Stock	Cumulative Effect, Period of Adoption, Adjustment Common Stock Common Stock Class A	Cumulative Effect, Period of Adoption, Adjustment Additional Paid-in Capital	Cumulative Effect, Period of Adoption, Adjustment Additional Paid-in Capital Common Stock Class A	Cumulative Effect, Period of Adoption, Adjustment Retained Earnings (Accumulated Deficit)	Cumulative Effect, Period of Adoption, Adjustment Accumulated Other Comprehensive Loss	Cumulative Effect, Period of Adoption, Adjustment Total Hyzon Motors Inc. Stockholders’ Equity (Deficit)	Cumulative Effect, Period of Adoption, Adjustment Noncontrolling 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		$ 77
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	370,065	$ 0	$ 25	400,826	(26,412)	378	374,817	(4,752)
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	1,193			1,193			1,193
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	(6,523)				(6,523)		(6,523)
Less: Net loss attributable to noncontrolling interest	(2,295)							(2,295)
Foreign currency translation loss	211					85	85	126
Ending Balance at Mar. 31, 2022	$ 362,494	$ 0	$ 25	$ 401,862	$ (32,935)	$ 463	$ 369,415	$ (6,921)
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
Changes in operating assets and liabilities:
Net loss	$ (8,818)	$ (8,389)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	904	129
Stock-based compensation	1,193	290
Deferred income tax expense	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	2,164	(191)
Inventory	(7,494)	(626)
Prepaid expenses and other current assets	(1,749)	(6,982)
Other assets	(68)	0
Accounts payable	(180)	375
Accrued liabilities	3,404	316
Related party payables, net	(56)	811
Contract liabilities	(2,637)	297
Other liabilities	9	0
Net cash used in operating activities	(30,096)	(9,470)
Cash Flows from Investing Activities:
Purchases of property and equipment	(3,575)	(3,950)
Advanced payments for capital expenditures	(320)	0
Investment in equity securities	0	(123)
Net cash used in investing activities	(3,895)	(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 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	216	(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 amended Annual Report filed on Form 10-K/A 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 $8.8 million and $8.4 million for the three months ended March 31, 2022 and 2021, respectively, and accumulated deficit amounted to $32.9 million and $26.4 million as of March 31, 2022 and December 31, 2021, respectively. Net cash used in operating activities was $30.1 million and $9.5 million for the three months ended March 31, 2022 and 2021, respectively. On July 16, 2021, the Company received $509.0 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 flows 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.

Restatement

Restatement	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Error Correction	Restatement of Previously Issued Financial Statements Management, in concurrence with the Company’s Audit Committee, concluded that the Company's previously issued financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's previously issued unaudited interim financial information included in the Company’s Quarterly Report on Form 10-Q for the quarterly periods ended September 30, 2021 and March 31, 2022 (collectively the “the Affected Financial Statements”) should no longer be relied upon. Details of the restated consolidated financial statements as of and for the period ended March 31, 2022 are provided below (“Restatement Items”). The Company evaluated the materiality of these errors both qualitatively and quantitatively in accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality and SAB No. 108 , Considering the Effects of Prior Year Misstatements in Current Year Financial Statements , and determined the effect of these corrections were material to the Affected Financial Statements. As a result of the material misstatements, the Company has restated our Affected Financial Statements, in accordance with ASC 250, Accounting Changes and Error Corrections . The Restatement Items primarily reflect adjustments to correct errors related to the recognition of revenue and associated balances for China FCEV transactions, and adjustments to correct errors related to the recognition of revenue and associated balances for European FCEV transactions. In addition to the correction of the errors discussed above, the Company has corrected for Other Immaterial Errors in all Affected Financial Statements. The Company has also updated all accompanying footnotes and disclosures affected by the Restatement Items and Other Immaterial Errors, respectively, within Note 1. Nature of Business and Basis of Presentation, Note 4. Revenue, Note 5. Inventory, Note 6. Prepaid Expenses and Other Current Assets, Note 7. Property, Plant, and Equipment, net, Note 8. Accrued liabilities, Note 10. Income Taxes, Note 11. Fair Value Measurements, Note 14. Stockholders' Equity, and Note 16. Loss per share. Restatement Items A. Hyzon China revenue transactions - In July 2022, management discovered and brought to the attention of the Board that certain vehicles in China may not have met the criteria necessary to recognize revenue as of December 31, 2021. The Special Committee was formed to conduct an investigation regarding the Company’s revenue recognition timing and internal controls and procedures for both China and Europe operations. The Company determined that it incorrectly recorded revenue and cost of revenue related to certain FCEVs delivered to customers in China in the fourth quarter of 2021, as the Company did not meet all relevant revenue recognition requirements under U.S. GAAP related to these vehicles. The Company determined that for all Hyzon China revenue transactions an alternative method for revenue recognition was appropriate because the contract existence criteria were not met. For 62 FCEVs, while control of such FCEVs was transferred to the customer prior to December 31, 2021, the Company's obligation to deliver functioning FCEVs was not fully satisfied for revenue recognition purposes until the first first quarter of 2022, as certain of the FCEVs were not commissioned prior to December 31, 2021. For the other 20 FCEVs, the Company concluded it incorrectly recorded revenue in the fourth quarter of 2021, as it had not yet transferred control of the FCEVs to the customer, nor fully satisfied the obligation to deliver fully functioning FCEVs until the third quarter of 2022. Additionally, for both of the Hyzon China revenue transactions, the Company incorrectly recorded VAT receivable from customers totaling $1.8 million as of December 31, 2021. The Company determined that consideration received from those customers should have first been applied against any VAT receivables and then recorded within contract liabilities until the applicable revenue recognition criteria are met. Correction of the errors increased Revenue by $2.5 million, decreased Prepaid expenses and other current assets by $0.9 million, Other long-term assets by $0.9 million, and Other long-term liabilities by $0.9 million, increased Inventory by $2.9 million, Accrued liabilities by $0.7 million, and Accumulated deficit by $1.2 million. B. Hyzon Europe revenue transactions - The Investigation revealed that for five vehicles for which Hyzon Europe recognized revenue in 2021, Hyzon Europe subsequently performed various levels of work and repair efforts on such vehicles after revenue had been recognized. Consequently, the Company conducted an internal accounting review for its European customer arrangements. The Company determined that the accounting analysis previously applied to certain Hyzon Europe customer contracts, which were assumed from Holthausen Clean Technology B.V. in July 2021, was incorrect. More specifically, the Company previously determined that Hyzon Europe had acquired title to work-in-process vehicles from Holthausen Clean Technology B.V and had been manufacturing and assembling these FCEVs for subsequent sale to customers. Hyzon Europe had instead assumed service contracts related to the retrofit services to convert the customers' own ICE powered vehicles to hydrogen FCEVs. Therefore, the Company revised its revenue recognition analysis and concluded that Hyzon Europe should not have recorded the assumption of these contracts as inventory and associated contract liabilities, and also should have recognized revenue related to these service contract arrangements on an over-time basis utilizing an input method rather than recording revenue at a point in time. Correction of the error increased Cost of revenue by $0.1 million and decreased Inventory by $1.0 million, Accrued liabilities by $0.1 million, Contract liabilities by $1.8 million, and Accumulated deficit by $1.0 million. C. Transaction costs - The Company has adjusted its prior allocation of transaction costs incurred in connection with the Business Combination to reflect the allocation of the correct balance of Company incurred transaction costs between the liability classified earnout arrangement and the newly issued equity instruments in the Business Combination in the third quarter of 2021. The adjustment resulted in a reduction of amounts previously allocated to the earnout liability and recognized as expense, offset by an equal increase of transaction costs allocated to the newly issued equity instruments and recorded against additional paid-in capital. Correction of the error decreased Additional paid-in capital by $3.1 million with a corresponding increase to accumulated deficit. Other Immaterial Errors In addition to the Restatement Items, the Company has corrected Other Immaterial Errors. While these Other Immaterial Errors are quantitatively and qualitatively immaterial, individually and in the aggregate, because the Company is correcting for the material errors, we have decided to correct these Other Immaterial Errors as well. Correction of miscellaneous immaterial errors increased Cost of revenue by $0.1 million, Research and development expenses by $0.7 million, Foreign currency exchange loss and other expenses by $0.1 million. decreased Selling, general and administrative expenses by $0.7 million, Prepaid expenses and other current assets by $0.1 million, Property, plant, and equipment, net by $0.9 million, Accounts payable by $0.2 million, Contract liabilities by $1.0 million, increased Inventory by $0.4 million, , Accrued liabilities by $0.6 million, Lease liabilities by $0.1 million, Other long-term liabilities by $0.8 million, and Accumulated deficit by $0.7 million. Summary Impact of Restatement Items and Other Immaterial Errors The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated balance sheet for the period indicated (in thousands, except per share): As of March 31, 2022 As Previously Reported Restatement Adjustment Restatement References As Restated ASSETS Current assets Cash $ 407,333 $ — $ 407,333 Accounts receivable 774 38 812 Related party receivable 417 — 417 Inventory 26,082 2,315 (A) , (B) 28,397 Prepaid expenses and other current assets 29,951 (1,037) (A) 28,914 Total current assets 464,557 1,316 465,873 Property, plant, and equipment, net 18,249 (904) 17,345 Right-of-use assets 10,970 (9) 10,961 Investments in equity securities 17,478 — 17,478 Other assets 6,146 (854) (A) 5,292 Total Assets $ 517,400 $ (451) $ 516,949 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ 7,938 $ (139) $ 7,799 Accrued liabilities 9,034 1,186 (A) , (B) 10,220 Related party payables 648 — 648 Contract liabilities 11,063 (2,885) (B) 8,178 Current portion of lease liabilities 2,409 — 2,409 Total current liabilities 31,092 (1,838) 29,254 Long term liabilities Lease liabilities 9,249 59 9,308 Private placement warrant liability 13,705 — 13,705 Earnout liability 100,520 — 100,520 Deferred income taxes 526 — 526 Other liabilities 1,243 (101) (A) 1,142 Total liabilities $ 156,335 $ (1,880) $ 154,455 Commitments and contingencies 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 (3,130) (C) 401,862 Accumulated deficit (37,182) 4,247 (32,935) Accumulated other comprehensive gain 486 (23) 463 Total Hyzon Motors Inc. stockholders’ equity 368,321 1,094 369,415 Noncontrolling interest (7,256) 335 (6,921) Total Stockholders’ Equity 361,065 1,429 362,494 Total Liabilities and Stockholders’ Equity $ 517,400 $ (451) $ 516,949 The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated statement of operations and comprehensive loss for the period indicated (in thousands, except per share amounts): Three Months Ended March 31, 2022 As Previously Reported Restatement Adjustment Restatement References As Restated Revenue $ 356 $ 2,532 (A) $ 2,888 Operating expense: Cost of revenue 424 229 (B) 653 Research and development 6,212 724 6,936 Selling, general, and administrative 20,470 (718) 19,752 Total operating expenses 27,106 235 27,341 Loss from operations (26,750) 2,297 (24,453) Other income (expense): Change in fair value of private placement warrant liability 1,523 — 1,523 Change in fair value of earnout liability 3,241 — 3,241 Change in fair value of equity securities 12,530 — 12,530 Foreign currency exchange loss and other expense (1,057) (93) (1,150) Interest income (expense), net 17 — 17 Total other income (expense) 16,254 (93) 16,161 Net loss before income taxes $ (10,496) $ 2,204 $ (8,292) Income tax expense 526 — 526 Net loss (11,022) 2,204 (8,818) Less: Net loss attributable to noncontrolling interest (1,957) (338) (2,295) Net loss attributable to Hyzon $ (9,065) $ 2,542 $ (6,523) Comprehensive loss: Net loss $ (11,022) $ 2,204 $ (8,818) Foreign currency translation adjustment 254 (43) 211 Comprehensive loss $ (10,768) $ 2,161 $ (8,607) Less: Comprehensive loss attributable to noncontrolling interest (1,816) (353) (2,169) Comprehensive loss attributable to Hyzon $ (8,952) $ 2,514 $ (6,438) Net loss per share attributable to Hyzon: Basic (0.04) $ 0.01 (0.03) Diluted (0.04) $ 0.01 (0.03) Weighted average common shares outstanding: Basic 247,940 — 247,940 Diluted 247,940 — 247,940 The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated statement of stockholders' equity (in thousands, except share and per share amounts): Common Stock Class A Retained Earnings (Accumulated Deficit) Accumulative Other Comprehensive Income Total Hyzon Motors Inc. Stockholders' Equity (Deficit) Noncontrolling Interest Total Stockholders' Equity Shares Amount Additional Paid-in Capital BALANCE - March 31, 2022 (As Previously Reported) 247,881,568 $ 25 404,992 $ (37,182) $ 486 $ 368,321 $ (7,256) $ 361,065 Cumulative adjustments — — (3,130) 4,247 (23) 1,094 335 1,429 BALANCE - March 31, 2022 (As Restated) 247,881,568 $ 25 401,862 $ (32,935) $ 463 $ 369,415 $ (6,921) $ 362,494 The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated statement of cash flows (in thousands): Three Months Ended March 31, 2022 As Previously Reported Restatement Adjustments*** As Restated Cash Flows from Operating Activities: Net loss $ (11,022) $ 2,204 $ (8,818) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 912 (8) 904 Stock-based compensation 2,133 (940) 1,193 Deferred income tax expense 526 — 526 Fair value adjustment of private placement warrant liability (1,523) — (1,523) Fair value adjustment of earnout liability (3,241) — (3,241) Fair value adjustment of value of equity securities (12,530) — (12,530) Changes in operating assets and liabilities: Accounts receivable 1,839 325 2,164 Inventory (6,864) (630) (7,494) Prepaid expenses and other current assets (1,599) (150) (1,749) Other assets (65) (3) (68) Accounts payable (568) 388 (180) Accrued liabilities 3,003 401 3,404 Related party payables, net 8 (64) (56) Contract liabilities (165) (2,472) (2,637) Other liabilities (92) 101 9 Net cash used in operating activities (29,248) (848) (30,096) Cash Flows from Investing Activities: Purchases of property and equipment (4,440) 865 (3,575) Advanced payments for capital expenditures (387) 67 (320) Investment in equity securities — — — Net cash used in investing activities (4,827) 932 (3,895) Cash Flows from Financing Activities: Exercise of stock options 34 — 34 Payment of finance lease liability (86) — (86) Net share settlement of equity awards (160) — (160) Payment for purchase of Horizon IP (3,146) — (3,146) Repurchase of warrants (31) — (31) Net cash (used in) provided by financing activities (3,389) — (3,389) Effect of exchange rate changes on cash 300 (84) 216 Net change in cash and restricted cash (37,164) — (37,164) Cash and restricted cash — Beginning 449,365 — 449,365 Cash and restricted cash — Ending $ 412,201 $ — $ 412,201 *** The adjustments within the consolidated statement of cash flows for the three months ended March 31, 2022 were due to the reconciliation of the changes in account balances used in preparing the statement of cash flows resulting from the various error corrections included in the above financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 3. Summary of Significant Accounting Policies, in the Company’s consolidated financial statements included in the Company’s Annual Report filed on Form 10-K/A 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 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 flows. 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 4. Revenue The company recognized $2.9 million in sales of hydrogen fuel cell systems in the United States and sales of FCEVs in China for the three months ended March 31, 2022. The Company did not recognize any revenue for the three months ended March 31, 2021. In accordance with ASC 606, the Company is required to evaluate customers’ ability and intent to pay substantially all of the consideration to which the Company is entitled in exchange for the vehicles transferred to the customer, i.e., collectability of contracts with customers. The customer in China, to which the Company delivered 62 FCEVs, is a special purpose entity established in response to China’s national hydrogen fuel cell vehicle pilot program. While in the Company’s estimation the customer has strong business plans and management teams, in consideration of the customer’s limited operating history and extended payment terms in their contracts, the Company determined the collectability criterion is not met with respect to contract existence under ASC 606, and therefore, an alternative method of revenue recognition has been applied to the arrangement. The $2.5 million of revenue recognized under this arrangement is equal to the remaining consideration received as of December 31, 2021 after satisfying local government VAT obligations, as such amounts are non-refundable and the Company has transferred control of the 62 FCEVs to which the consideration relates and has stopped transferring goods or services to the customer. The Company will continue to monitor the customer and evaluate the collectability criterion as of each reporting period. The total cost of FCEVs delivered to the customer in China was recorded within Cost of revenue in the Consolidated Statements of Operations and Comprehensive Loss in 2021 since control of such FCEVs was transferred to the customer prior to December 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 accompanying Consolidated Balance Sheets. The current portion of contract liabilities are recorded within Contract liabilities in the Consolidated Balance Sheets and totaled $8.2 million and $10.9 million as of March 31, 2022, and December 31, 2021, respectively. The long term portion of contract liabilities are recorded within Other liabilities in the Consolidated Balance Sheets and totaled $1.0 million and $1.0 million as of March 31, 2022 and December 31, 2021, respectively. Remaining Performance Obligations

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 $ 21,201 $ 16,099 Work in process 7,196 4,828 Total inventory $ 28,397 $ 20,927

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 6. 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 15) $ 5,905 $ 5,008 Vehicle inventory deposits 10,021 10,171 Production equipment deposits 1,484 1,169 Other prepaid expenses 5,136 3,266 Prepaid Insurance 2,744 5,079 VAT receivable from government 3,624 2,159 Total prepaid expenses and other current assets $ 28,914 $ 26,852

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 7. 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 10,755 8,827 Software 1,087 507 Leasehold improvements 909 746 Construction in progress 3,038 2,139 Total Property, plant, and equipment 18,607 15,037 Less: Accumulated depreciation and amortization (1,262) (691) Property, plant and equipment, net $ 17,345 $ 14,346

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 $ 3,835 $ 2,250 Accrued professional fees 4,093 2,450 Other accrued expenses 2,292 2,070 Accrued liabilities $ 10,220 $ 6,770

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 Adjustment: 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 $25.7 million and $23.0 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 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. The Company 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 the Company because of legal defense and settlement costs, the Company’s 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, the Company 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 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 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 275,048 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 $10.0 million. As of March 31, 2022, the full $10.0 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 $3.7 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, a €1.0 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 to Carl Holthausen and Max Holthausen as managing directors 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 the Company’s 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 $ (6,523) $ (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 $ (0.03) $ (0.05) Diluted $ (0.03) $ (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 amended Annual Report filed on Form 10-K/A 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 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 flows. 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.

Restatement (Tables)

Restatement (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated balance sheet for the period indicated (in thousands, except per share): As of March 31, 2022 As Previously Reported Restatement Adjustment Restatement References As Restated ASSETS Current assets Cash $ 407,333 $ — $ 407,333 Accounts receivable 774 38 812 Related party receivable 417 — 417 Inventory 26,082 2,315 (A) , (B) 28,397 Prepaid expenses and other current assets 29,951 (1,037) (A) 28,914 Total current assets 464,557 1,316 465,873 Property, plant, and equipment, net 18,249 (904) 17,345 Right-of-use assets 10,970 (9) 10,961 Investments in equity securities 17,478 — 17,478 Other assets 6,146 (854) (A) 5,292 Total Assets $ 517,400 $ (451) $ 516,949 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ 7,938 $ (139) $ 7,799 Accrued liabilities 9,034 1,186 (A) , (B) 10,220 Related party payables 648 — 648 Contract liabilities 11,063 (2,885) (B) 8,178 Current portion of lease liabilities 2,409 — 2,409 Total current liabilities 31,092 (1,838) 29,254 Long term liabilities Lease liabilities 9,249 59 9,308 Private placement warrant liability 13,705 — 13,705 Earnout liability 100,520 — 100,520 Deferred income taxes 526 — 526 Other liabilities 1,243 (101) (A) 1,142 Total liabilities $ 156,335 $ (1,880) $ 154,455 Commitments and contingencies 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 (3,130) (C) 401,862 Accumulated deficit (37,182) 4,247 (32,935) Accumulated other comprehensive gain 486 (23) 463 Total Hyzon Motors Inc. stockholders’ equity 368,321 1,094 369,415 Noncontrolling interest (7,256) 335 (6,921) Total Stockholders’ Equity 361,065 1,429 362,494 Total Liabilities and Stockholders’ Equity $ 517,400 $ (451) $ 516,949 The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated statement of operations and comprehensive loss for the period indicated (in thousands, except per share amounts): Three Months Ended March 31, 2022 As Previously Reported Restatement Adjustment Restatement References As Restated Revenue $ 356 $ 2,532 (A) $ 2,888 Operating expense: Cost of revenue 424 229 (B) 653 Research and development 6,212 724 6,936 Selling, general, and administrative 20,470 (718) 19,752 Total operating expenses 27,106 235 27,341 Loss from operations (26,750) 2,297 (24,453) Other income (expense): Change in fair value of private placement warrant liability 1,523 — 1,523 Change in fair value of earnout liability 3,241 — 3,241 Change in fair value of equity securities 12,530 — 12,530 Foreign currency exchange loss and other expense (1,057) (93) (1,150) Interest income (expense), net 17 — 17 Total other income (expense) 16,254 (93) 16,161 Net loss before income taxes $ (10,496) $ 2,204 $ (8,292) Income tax expense 526 — 526 Net loss (11,022) 2,204 (8,818) Less: Net loss attributable to noncontrolling interest (1,957) (338) (2,295) Net loss attributable to Hyzon $ (9,065) $ 2,542 $ (6,523) Comprehensive loss: Net loss $ (11,022) $ 2,204 $ (8,818) Foreign currency translation adjustment 254 (43) 211 Comprehensive loss $ (10,768) $ 2,161 $ (8,607) Less: Comprehensive loss attributable to noncontrolling interest (1,816) (353) (2,169) Comprehensive loss attributable to Hyzon $ (8,952) $ 2,514 $ (6,438) Net loss per share attributable to Hyzon: Basic (0.04) $ 0.01 (0.03) Diluted (0.04) $ 0.01 (0.03) Weighted average common shares outstanding: Basic 247,940 — 247,940 Diluted 247,940 — 247,940 The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated statement of stockholders' equity (in thousands, except share and per share amounts): Common Stock Class A Retained Earnings (Accumulated Deficit) Accumulative Other Comprehensive Income Total Hyzon Motors Inc. Stockholders' Equity (Deficit) Noncontrolling Interest Total Stockholders' Equity Shares Amount Additional Paid-in Capital BALANCE - March 31, 2022 (As Previously Reported) 247,881,568 $ 25 404,992 $ (37,182) $ 486 $ 368,321 $ (7,256) $ 361,065 Cumulative adjustments — — (3,130) 4,247 (23) 1,094 335 1,429 BALANCE - March 31, 2022 (As Restated) 247,881,568 $ 25 401,862 $ (32,935) $ 463 $ 369,415 $ (6,921) $ 362,494 The following tables present the effect of the Restatement Items, as well as Other Immaterial Errors, on the Company’s consolidated statement of cash flows (in thousands): Three Months Ended March 31, 2022 As Previously Reported Restatement Adjustments*** As Restated Cash Flows from Operating Activities: Net loss $ (11,022) $ 2,204 $ (8,818) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 912 (8) 904 Stock-based compensation 2,133 (940) 1,193 Deferred income tax expense 526 — 526 Fair value adjustment of private placement warrant liability (1,523) — (1,523) Fair value adjustment of earnout liability (3,241) — (3,241) Fair value adjustment of value of equity securities (12,530) — (12,530) Changes in operating assets and liabilities: Accounts receivable 1,839 325 2,164 Inventory (6,864) (630) (7,494) Prepaid expenses and other current assets (1,599) (150) (1,749) Other assets (65) (3) (68) Accounts payable (568) 388 (180) Accrued liabilities 3,003 401 3,404 Related party payables, net 8 (64) (56) Contract liabilities (165) (2,472) (2,637) Other liabilities (92) 101 9 Net cash used in operating activities (29,248) (848) (30,096) Cash Flows from Investing Activities: Purchases of property and equipment (4,440) 865 (3,575) Advanced payments for capital expenditures (387) 67 (320) Investment in equity securities — — — Net cash used in investing activities (4,827) 932 (3,895) Cash Flows from Financing Activities: Exercise of stock options 34 — 34 Payment of finance lease liability (86) — (86) Net share settlement of equity awards (160) — (160) Payment for purchase of Horizon IP (3,146) — (3,146) Repurchase of warrants (31) — (31) Net cash (used in) provided by financing activities (3,389) — (3,389) Effect of exchange rate changes on cash 300 (84) 216 Net change in cash and restricted cash (37,164) — (37,164) Cash and restricted cash — Beginning 449,365 — 449,365 Cash and restricted cash — Ending $ 412,201 $ — $ 412,201 *** The adjustments within the consolidated statement of cash flows for the three months ended March 31, 2022 were due to the reconciliation of the changes in account balances used in preparing the statement of cash flows resulting from the various error corrections included in the above 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 $ 21,201 $ 16,099 Work in process 7,196 4,828 Total inventory $ 28,397 $ 20,927

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 15) $ 5,905 $ 5,008 Vehicle inventory deposits 10,021 10,171 Production equipment deposits 1,484 1,169 Other prepaid expenses 5,136 3,266 Prepaid Insurance 2,744 5,079 VAT receivable from government 3,624 2,159 Total prepaid expenses and other current assets $ 28,914 $ 26,852

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 10,755 8,827 Software 1,087 507 Leasehold improvements 909 746 Construction in progress 3,038 2,139 Total Property, plant, and equipment 18,607 15,037 Less: Accumulated depreciation and amortization (1,262) (691) Property, plant and equipment, net $ 17,345 $ 14,346

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 $ 3,835 $ 2,250 Accrued professional fees 4,093 2,450 Other accrued expenses 2,292 2,070 Accrued liabilities $ 10,220 $ 6,770

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 Adjustment: 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 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 the Company’s 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 $ (6,523) $ (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 $ (0.03) $ (0.05) Diluted $ (0.03) $ (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		3 Months Ended
	Jul. 16, 2021 USD ($) $ / shares	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) $ / shares
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, par value (dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001
Net loss		$ (8,818)	$ (8,389)
Accumulated deficit		(32,935)		$ (26,412)
Cash flows used in operating activities		(30,096)	$ (9,470)
Unrestricted cash		$ 407,333		$ 445,146
Reverse Recapitalization, Net	$ 509,000
Legacy Hyzon | Common Stock Class A
Business Combination, Separately Recognized Transactions [Line Items]
Stockholders equity note, stock split, conversion ratio (in shares)	1.772

Restatement - Narrative (Detail

Restatement - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) vehicle	Sep. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue	$ 2,888	$ 0
Inventory, Net	(28,397)		$ (20,927)
Selling, general, and administrative	19,752	3,146
Research and Development Expense	(6,936)	(627)
Accounts receivable	812		2,956
Related party payables	648		3,695
Lease liabilities	9,308		8,830
Property, plant, and equipment, net	17,345		14,346
Prepaid expenses and other current assets	28,914		26,852
Other assets	5,292		4,575
Other liabilities	1,142		$ 1,139
Number Of Vehicles | vehicle			62
Total Stockholders’ Equity	362,494	(3,180)	$ 370,065		$ 14,761
Retained Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders’ Equity	(32,935)	$ (22,418)	$ (26,412)		$ (14,271)
Hyzon China
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number Of Vehicles, Performance Obligations Fully Satisfied | vehicle			62
Number of Vehicles, Performance Obligation Not Fully Satisfied | vehicle			20
Hyzon Europe
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number Of Vehicles | vehicle			5
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue	2,532
Inventory, Net	(2,315)
Business Acquisition, Transaction Costs				$ 3,100
Selling, general, and administrative	(718)
Research and Development Expense	(724)
Accounts receivable	38
Related party payables	0
Property, plant, and equipment, net	(904)
Prepaid expenses and other current assets	(1,037)
Other assets	(854)
Other liabilities	(101)
Total Stockholders’ Equity	1,429
Revision of Prior Period, Adjustment | Retained Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders’ Equity	4,247
Revision of Prior Period, Adjustment | Hyzon China
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue	2,500
Inventory, Net	(2,900)
Accrued Liabilities	(700)
Prepaid expenses and other current assets	900
Other assets	900
Other liabilities	900
Revision of Prior Period, Adjustment | Hyzon China | Retained Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders’ Equity	1,200
Revision of Prior Period, Adjustment | Hyzon Europe
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue	100
Contract liabilities	1,800
Inventory, Net	1,000
Accrued Liabilities	100
Revision of Prior Period, Adjustment | Hyzon Europe | Retained Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders’ Equity	1,000
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue	356
Inventory, Net	(26,082)
Selling, general, and administrative	20,470
Research and Development Expense	(6,212)
Accounts receivable	774
Related party payables	648
Property, plant, and equipment, net	18,249
Value Added Tax Receivable			$ 1,800
Prepaid expenses and other current assets	29,951
Other assets	6,146
Other liabilities	1,243
Total Stockholders’ Equity	361,065
Previously Reported | Retained Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders’ Equity	(37,182)
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract liabilities	(1,000)
Inventory, Net	400
Selling, general, and administrative	700
Research and Development Expense	700
Prepaid Expense	100
Accounts Payable	200
Lease liabilities	100
Property, plant, and equipment, net	(900)
Foreign Currency Exchange Loss And Other Expenses	100
Accrued Liabilities	600
Cost of Revenue	100
Other liabilities	800
Revision of Prior Period, Error Correction, Adjustment | Retained Earnings (Accumulated Deficit)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total Stockholders’ Equity	$ 700

Restatement - Balance Sheet (De

Restatement - Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash	$ 407,333
Accounts receivable	812	$ 2,956
Related party receivable	417	264
Inventory	28,397	20,927
Prepaid expenses and other current assets	28,914	26,852
Total current assets	465,873	496,145
Property, plant, and equipment, net	17,345	14,346
Right-of-use assets	10,961	10,265
Investments in equity securities	17,478
Other assets	5,292	4,575
Total Assets	516,949	530,279
Current liabilities
Accounts payable	7,799	7,980
Accrued liabilities	10,220	6,770
Related party payables	648	3,695
Contract liabilities	8,178	10,925
Current portion of lease liabilities	2,409	1,886
Total current liabilities	29,254	31,256
Long term liabilities
Lease liabilities	9,308
Private placement warrant liability	13,705	15,228
Earnout liability	100,520	103,761
Deferred income taxes	526	0
Other liabilities	1,142	1,139
Other liabilities	154,455	160,214
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	401,862	400,826
Retained Earnings (Accumulated Deficit)	(32,935)	(26,412)
Accumulated other comprehensive gain	463	378
Total Hyzon Motors Inc. stockholders’ equity	369,415	374,817
Noncontrolling interest	(6,921)	(4,752)
Total Stockholders’ Equity	362,494	370,065	$ (3,180)	$ 14,761
Total Liabilities and Stockholders’ Equity	516,949	$ 530,279
Previously Reported
Current assets
Cash	407,333
Accounts receivable	774
Related party receivable	417
Inventory	26,082
Prepaid expenses and other current assets	29,951
Total current assets	464,557
Property, plant, and equipment, net	18,249
Right-of-use assets	10,970
Investments in equity securities	17,478
Other assets	6,146
Total Assets	517,400
Current liabilities
Accounts payable	7,938
Accrued liabilities	9,034
Related party payables	648
Contract liabilities	11,063
Current portion of lease liabilities	2,409
Total current liabilities	31,092
Long term liabilities
Lease liabilities	9,249
Private placement warrant liability	13,705
Earnout liability	100,520
Deferred income taxes	526
Other liabilities	1,243
Other liabilities	156,335
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
Additional paid-in capital	404,992
Retained Earnings (Accumulated Deficit)	(37,182)
Accumulated other comprehensive gain	486
Total Hyzon Motors Inc. stockholders’ equity	368,321
Noncontrolling interest	(7,256)
Total Stockholders’ Equity	361,065
Total Liabilities and Stockholders’ Equity	517,400
Revision of Prior Period, Adjustment
Current assets
Cash	0
Accounts receivable	38
Related party receivable	0
Inventory	2,315
Prepaid expenses and other current assets	(1,037)
Total current assets	1,316
Property, plant, and equipment, net	(904)
Right-of-use assets	(9)
Investments in equity securities	0
Other assets	(854)
Total Assets	(451)
Current liabilities
Accounts payable	(139)
Accrued liabilities	1,186
Related party payables	0
Contract liabilities	(2,885)
Current portion of lease liabilities	0
Total current liabilities	(1,838)
Long term liabilities
Lease liabilities	59
Private placement warrant liability	0
Earnout liability	0
Deferred income taxes	0
Other liabilities	(101)
Other liabilities	(1,880)
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.	0
Additional paid-in capital	(3,130)
Retained Earnings (Accumulated Deficit)	4,247
Accumulated other comprehensive gain	(23)
Total Hyzon Motors Inc. stockholders’ equity	1,094
Noncontrolling interest	335
Total Stockholders’ Equity	1,429
Total Liabilities and Stockholders’ Equity	$ (451)

Restatement - Statement of Oper

Restatement - Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 2,888	$ 0
Operating expense:
Cost of revenue	653	0
Research and development	6,936	627
Selling, general, and administrative	19,752	3,146
Total operating expenses	27,341	3,773
Loss from operations	(24,453)	(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	(1,150)	(28)
Interest income (expense), net	17	(4,588)
Total other income (expense)	16,161	(4,616)
Net loss before income taxes	(8,292)	(8,389)
Income tax expense	526	0
Net loss	(8,818)	(8,389)
Less: Net loss attributable to noncontrolling interest	(2,295)	(242)
Net loss attributable to Hyzon	(6,523)	(8,147)
Comprehensive loss:
Net loss	(8,818)	(8,389)
Foreign currency translation adjustment	211	(29)
Comprehensive loss	(8,607)	(8,418)
Less: Comprehensive loss attributable to noncontrolling interest	(2,169)	(233)
Comprehensive loss attributable to Hyzon	$ (6,438)	$ (8,185)
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ (0.03)	$ (0.05)
Diluted (dollars per share)	$ (0.03)	$ (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
Previously Reported
Income Statement [Abstract]
Revenue	$ 356
Operating expense:
Cost of revenue	424
Research and development	6,212
Selling, general, and administrative	20,470
Total operating expenses	27,106
Loss from operations	(26,750)
Other income (expense):
Change in fair value of private placement warrant liability	1,523
Change in fair value of earnout liability	3,241
Change in fair value of equity securities	12,530
Foreign currency exchange loss and other expense	(1,057)
Interest income (expense), net	17
Total other income (expense)	16,254
Net loss before income taxes	(10,496)
Income tax expense	526
Net loss	(11,022)
Less: Net loss attributable to noncontrolling interest	(1,957)
Net loss attributable to Hyzon	(9,065)
Comprehensive loss:
Net loss	(11,022)
Foreign currency translation adjustment	254
Comprehensive loss	(10,768)
Less: Comprehensive loss attributable to noncontrolling interest	(1,816)
Comprehensive loss attributable to Hyzon	$ (8,952)
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ (0.04)
Diluted (dollars per share)	$ (0.04)
Weighted average common shares outstanding:
Basic (in shares)	247,940,000
Diluted (in shares)	247,940,000
Revision of Prior Period, Adjustment
Income Statement [Abstract]
Revenue	$ 2,532
Operating expense:
Cost of revenue	229
Research and development	724
Selling, general, and administrative	(718)
Total operating expenses	235
Loss from operations	2,297
Other income (expense):
Change in fair value of private placement warrant liability	0
Change in fair value of earnout liability	0
Change in fair value of equity securities	0
Foreign currency exchange loss and other expense	(93)
Interest income (expense), net	0
Total other income (expense)	(93)
Net loss before income taxes	2,204
Income tax expense	0
Net loss	2,204
Less: Net loss attributable to noncontrolling interest	(338)
Net loss attributable to Hyzon	2,542
Comprehensive loss:
Net loss	2,204
Foreign currency translation adjustment	(43)
Comprehensive loss	2,161
Less: Comprehensive loss attributable to noncontrolling interest	(353)
Comprehensive loss attributable to Hyzon	$ 2,514
Net loss per share attributable to Hyzon:
Basic (dollars per share)	$ 0.01
Diluted (dollars per share)	$ 0.01
Weighted average common shares outstanding:
Basic (in shares)	0
Diluted (in shares)	0

Restatement - Equity Statement

Restatement - Equity Statement (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	$ 362,494	$ 370,065	$ (3,180)	$ 14,761
Common Stock | Common Stock Class A
Statement of Stockholders' Equity [Abstract]
Shares, Outstanding	247,881,568	247,758,412	166,240,189	166,125,000
Total Stockholders’ Equity	$ 25	$ 25	$ 17	$ 17
Additional Paid-in Capital
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	401,862	400,826	19,599	29,122
Retained Earnings (Accumulated Deficit)
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	(32,935)	(26,412)	(22,418)	(14,271)
Accumulated Other Comprehensive Loss
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	463	378	(54)	(16)
Total Hyzon Motors Inc. Stockholders’ Equity (Deficit)
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	369,415	374,817	(2,856)	14,852
Noncontrolling Interest
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	(6,921)	$ (4,752)	$ (324)	$ (91)
Previously Reported
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	$ 361,065
Previously Reported | Common Stock | Common Stock Class A
Statement of Stockholders' Equity [Abstract]
Shares, Outstanding	247,881,568
Total Stockholders’ Equity	$ 25
Previously Reported | Additional Paid-in Capital
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	404,992
Previously Reported | Retained Earnings (Accumulated Deficit)
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	(37,182)
Previously Reported | Accumulated Other Comprehensive Loss
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	486
Previously Reported | Total Hyzon Motors Inc. Stockholders’ Equity (Deficit)
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	368,321
Previously Reported | Noncontrolling Interest
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	(7,256)
Revision of Prior Period, Adjustment
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	1,429
Revision of Prior Period, Adjustment | Additional Paid-in Capital
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	(3,130)
Revision of Prior Period, Adjustment | Retained Earnings (Accumulated Deficit)
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	4,247
Revision of Prior Period, Adjustment | Accumulated Other Comprehensive Loss
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	(23)
Revision of Prior Period, Adjustment | Total Hyzon Motors Inc. Stockholders’ Equity (Deficit)
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	1,094
Revision of Prior Period, Adjustment | Noncontrolling Interest
Statement of Stockholders' Equity [Abstract]
Total Stockholders’ Equity	$ 335

Restatement - Cash Flow Stateme

Restatement - Cash Flow Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (8,818)	$ (8,389)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	904	129
Stock-based compensation	1,193	290
Deferred income tax expense	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	2,164	(191)
Inventory	(7,494)	(626)
Prepaid expenses and other current assets	(1,749)	(6,982)
Other assets	(68)	0
Accounts payable	(180)	375
Accrued liabilities	3,404
Related party payables, net	(56)	811
Contract liabilities	(2,637)	297
Other liabilities	9	0
Net cash used in operating activities	(30,096)	(9,470)
Cash Flows from Investing Activities:
Purchases of property and equipment	(3,575)	(3,950)
Advanced payments for capital expenditures	(320)	0
Investment in equity securities	0
Net cash used in investing activities	(3,895)	(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 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	216	(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
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	(11,022)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	912
Stock-based compensation	2,133
Deferred income tax expense	526
Fair value adjustment of private placement warrant liability	(1,523)
Fair value adjustment of earnout liability	(3,241)
Fair value adjustment of value of equity securities	(12,530)
Changes in operating assets and liabilities:
Accounts receivable	1,839
Inventory	(6,864)
Prepaid expenses and other current assets	(1,599)
Other assets	(65)
Accounts payable	(568)
Accrued liabilities	3,003
Related party payables, net	8
Contract liabilities	(165)
Other liabilities	(92)
Net cash used in operating activities	(29,248)
Cash Flows from Investing Activities:
Purchases of property and equipment	(4,440)
Advanced payments for capital expenditures	(387)
Investment in equity securities	0
Net cash used in investing activities	(4,827)
Cash Flows from Financing Activities:
Exercise of stock options	34
Payment of finance lease liability	(86)
Net share settlement of equity awards	(160)
Payment for purchase of Horizon IP	(3,146)
Repurchase of warrants	(31)
Net cash (used in) provided by financing activities	(3,389)
Effect of exchange rate changes on cash	300
Net change in cash and restricted cash	(37,164)
Cash and restricted cash — Beginning	449,365
Cash and restricted cash — Ending	412,201
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	2,204
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	(8)
Stock-based compensation	(940)
Deferred income tax expense	0
Fair value adjustment of private placement warrant liability	0
Fair value adjustment of earnout liability	0
Fair value adjustment of value of equity securities	0
Changes in operating assets and liabilities:
Accounts receivable	325
Inventory	(630)
Prepaid expenses and other current assets	(150)
Other assets	(3)
Accounts payable	388
Accrued liabilities	401
Related party payables, net	(64)
Contract liabilities	(2,472)
Other liabilities	101
Net cash used in operating activities	(848)
Cash Flows from Investing Activities:
Purchases of property and equipment	865
Advanced payments for capital expenditures	67
Investment in equity securities	0
Net cash used in investing activities	932
Cash Flows from Financing Activities:
Exercise of stock options	0
Payment of finance lease liability	0
Repurchase of warrants	0
Net cash (used in) provided by financing activities	0
Effect of exchange rate changes on cash	(84)
Net change in cash and restricted cash	0
Cash and restricted cash — Beginning	0
Cash and restricted cash — Ending	$ 0

Revenue (Detail)

Revenue (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) vehicle
Disaggregation of Revenue [Line Items]
Remaining performance obligations	$ 20,000	$ 19,700
Revenue, performance obligation, description of timing	The Company expects to recognize approximately 87% of its remaining performance obligations as revenue over the next 12 months and the remainder thereafter.
Number Of Vehicles | vehicle		62
Contract liabilities	$ 8,178	$ 10,925
Contract with Customer, Liability, Noncurrent	1,000	1,000
Certain Customers In China | Australasia Regions
Disaggregation of Revenue [Line Items]
Deferred Revenue, Revenue Recognized		$ 2,500
Fuel
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,900

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 21,201	$ 16,099
Work in process	7,196	4,828
Total inventory	$ 28,397	$ 20,927

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 15)	$ 5,905	$ 5,008
Vehicle inventory deposits	10,021	10,171
Production equipment deposits	1,484	1,169
Other prepaid expenses	5,136	3,266
Prepaid Insurance	2,744	5,079
VAT receivable from government	3,624	2,159
Total prepaid expenses and other current assets	$ 28,914	$ 26,852

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	$ 18,607	$ 15,037
Less: Accumulated depreciation and amortization	(1,262)	(691)
Property, plant and equipment, net	17,345	14,346
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	10,755	8,827
Software
Property, Plant and Equipment [Line Items]
Property plant equipment gross	1,087	507
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant equipment gross	909	746
Construction in progress
Property, Plant and Equipment [Line Items]
Property plant equipment gross	$ 3,038	$ 2,139

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 500	$ 100
Property plant equipment gross	18,607		$ 15,037
Property, Plant and Equipment [Line Items]
Depreciation and amortization	500	$ 100
Property plant equipment gross	18,607		15,037
Capitalized Machinery And Equipment
Property, Plant and Equipment [Abstract]
Property plant equipment gross	1,400		1,400
Property, Plant and Equipment [Line Items]
Property plant equipment gross	$ 1,400		$ 1,400

Accrued liabilities (Details)

Accrued liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Payroll and payroll related expenses	$ 3,835	$ 2,250
Accrued professional fees	4,093	2,450
Other accrued expenses	2,292	2,070
Accrued liabilities	$ 10,220	$ 6,770

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
Adjustment:
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
Investments in equity securities	17,478
Raven SR
Schedule of Equity Method Investments [Line Items]
Investments in equity securities		$ 2,500
Gain from equity investment	12,500
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	$ 25,700		$ 23,000
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	0
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	15,228
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, 2022 yr	Dec. 31, 2021	Jul. 16, 2021 yr
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, 2022 USD ($)
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		275,048
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)			1 Months Ended	3 Months Ended		4 Months Ended	7 Months Ended
	May 05, 2022 USD ($) shares	May 05, 2022 EUR (€) shares	Feb. 28, 2022 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 EUR (€)	Sep. 30, 2021 USD ($)
Related Party Transaction [Line Items]
Compensation cost				$ 300,000	$ 100,000
Related party liability				600,000	3,700,000		$ 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%	25%
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%		75%
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%	75%

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	$ (6,523)	$ (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)	$ (0.03)	$ (0.05)
Diluted (dollars per share)	$ (0.03)	$ (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

Subsequent Events (Details)

Subsequent Events (Details)			1 Months Ended		3 Months Ended
	May 05, 2022 EUR (€) shares	May 05, 2022 USD ($) shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2022 USD ($) shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 23, 2022	Mar. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares	Jul. 16, 2021 $ / shares
Subsequent Event [Line Items]
Common stock, par value (dollars per share) | $ / shares								$ 0.0001	$ 0.0001	$ 0.0001
Joint Venture Agreement | Hyzon Motors, Inc. | Hyzon Europe | Letter Of Intent
Subsequent Event [Line Items]
Ownership percentage in equity method investment after increase									75%
Hyzon Europe | Joint Venture Agreement
Subsequent Event [Line Items]
Ownership percentage in equity method investment								50.50%
Subsequent Event | Hyzon Europe | Hyzon Automotive Technology Company Limited
Subsequent Event [Line Items]
Ownership interest							100%
Subsequent Event | Forecast | Joint Venture Agreement | Hyzon Motors, Inc. | Hyzon Europe | Letter Of Intent
Subsequent Event [Line Items]
Ownership percentage in equity method investment after increase	75%	75%
Subsequent Event | Forecast | Hyzon Europe
Subsequent Event [Line Items]
Purchase price	€ 27,000,000	$ 28,500,000
Subsequent Event | HYZNGlobal Nrg H2 Limited
Subsequent Event [Line Items]
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | $					$ 2,500,000
Subsequent Event | Hyzon Europe
Subsequent Event [Line Items]
Consolidation, Less Than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchases Of Interest By Parent, Percentage			49.50%			49.50%
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent, Shares.			1,485,000	1,485,000
Common stock, par value (dollars per share) | € / shares			€ 0.01
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent			€ 5,520,000	$ 5,840,000
Payments to Acquire Additional Interest in Subsidiaries			4,500,000	$ 4,760,000
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent, Liabilities Assumed			€ 1,020,000			$ 1,080,000
Subsequent Event | Holthausen Clean Technology Investments B.V. | Forecast | Hyzon Europe
Subsequent Event [Line Items]
Percent owned by Holthausen	25%	25%
Subsequent Event | Holthausen Clean Technology Investments B.V. | Forecast | Hyzon Europe
Subsequent Event [Line Items]
Shares purchased in transaction	735,000	735,000