Hyster-Yale (HY) said Wednesday it is realigning its Nuvera fuel cell business to create an integrated energy offerings program at Billerica facility.

The program will include the development, manufacturing and commercialization of lithium-ion battery modules, battery chargers, battery management systems, energy management activities, as well as a hybrid electric charging platform, the company said.

The company said that starting in H2, the realignment is expected to achieve $15 million to $20 million in direct annualized cost reductions and $10 million to $15 million in indirect cost reductions by absorbing Nuvera resources into open positions focused on developing its battery products and services and mobile charging platform.

Hyster-Yale said it expects to incur employee severance and impairment costs of about $15 million to $18 million in Q2.

The company's shares were down 3.5% in recent trading.

Price: 37.80, Change: -1.37, Percent Change: -3.50