By Will Feuer
Hyzon Motors Inc.'s shares fell 10% in premarket trading Wednesday after the company said it expects 2021 sales and margins to be lower than previously forecast, and disclosed that it received a subpoena from the Securities and Exchange Commission related to allegations made by a short-seller.
The supplier of hydrogen-powered fuel cell electric vehicles said it shipped 87 heavy-duty vehicles in 2021, exceeding its forecast for 85.
However, global supply-chain disruptions will lead to materially lower than forecast revenues and margins for the year, the company said.
In a filing with the SEC, Hyzon Motors said it is cooperating with a subpoena from the regulatory agency related to allegations detailed by short-seller Blue Orca Capital in September.
The stock last traded 10% lower at $6.10 a share premarket. The shares fell almost 39% last year.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
01-12-22 0826ET