08:03 AM EDT, 07/08/2024 (MT Newswires) -- Hyzon Motors ( HYZN ) said Monday that it will halt operations in the Netherlands and Australia amid challenging market conditions and waning government support for fuel cell-powered transportation.

The company said it plans to focus on the North American market and maintain the potential to return to Europe and Australia as a fuel cell system supplier.

Hyzon said it expects to incur approximately $17 million in charges in Q2 and Q3, including $7 million in cash. The company added that it expects to make the related cash payments in Q3 and Q4.