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Losses at Hyzon narrowed in the third quarter of 2024, but the hydrogen fuel cell electric truck maker’s cash reserves continue to erode rapidly.

The grant is from Canada’s Green Shipping Corridor Program, which funds low- and zero-emission shipping ventures along with port and terminal equipment and infrastructure.

Volkswagen and Rivian named leaders for their multibillion-dollar joint venture and showcased a prototype electric vehicle, signaling their commitment even as global EV demand softens.

The first customers are set to be carriers operating at the ports of Los Angeles and Long Beach — the largest two ports in the U.S. by import volume.

Port facilities across six states will receive millions of dollars in federal funding for the purchase of zero-emission vehicles and fueling and charging infrastructure through EPA grants.

Under terms of the grant program, FRA will pay no more than 80% of a project’s cost, with a minimum 20% match that can include in-kind contributions.

“The whole EV ecosystem is ahead of the consumer,” Toyota North America COO Jack Hollis said, pointing to tailpipe emission rules from the EPA and California.

The company is on track to meet the closely watched target thanks to a higher mix of premium models boosting revenue per vehicle sold and sales of regulatory credits.

Hydrogen fuel cell electric vehicles may be envisioned as the future workhorse of a decarbonized longhaul freight sector, but their development has proceeded at a measured pace.

With help from the U.S. Department of Energy, the hydrogen industry and truck makers are working to develop a hydrogen refueling infrastructure that can support fleet operations.