Hyster-Yale realigns Nuvera fuel cell business, expects $25-35M annual cost savings, $15-18M Q2 charges

HYSTER-YALE, INC.

Realignment integrates Nuvera's Billerica facility into HYMH for lithium-ion batteries, chargers, and energy management.
Downsizes fuel cell program to focus on 125KW for port equipment and HydroCharge; cites limited uptake and changed political environment.
Expects direct annualized cost reductions of $15-20M and indirect $10-15M starting in H2 2025.
Expects Q2 2025 severance and impairment costs of $15-18M; additional charges possible.
Initial HydroCharge sales expected H2 2025; battery program sales to accelerate from 2024 levels.

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