Hyliion announces strategic review of alternatives for powertrain business

Hyliion Holdings “announced that it has engaged strategic expert advisors to explore a range of options for its powertrain business. The commercial vehicle electrification industry is evolving, with fleets committed to ultimately reducing their environmental footprint through practical solutions. Hyliion, like others, has experienced slower-than-anticipated market adoption as fleets undertake a gradual transition to electric trucks. Hyliion’s ongoing participation in commercial vehicle electrification will require continued investment, while addressing escalating component and production costs, meeting ongoing regulatory requirements, and aligning with a new CARB mandate for fleet adoption of electric trucks. With the recent receipt of CARB certification and the beginning of extended fleet trials with customers, Hyliion has completed all milestones on its publicized path to commercialization of the Hypertruck ERX powertrain. Despite this progress, the company is taking steps to navigate the shifting landscape in commercial vehicle electrification. Hyliion will continue commercialization of the fuel-agnostic KARNO generator, which the company expects to compete effectively in the stationary generator market due to its superior operating characteristics. Given the rising strain on electrical infrastructure, notably from electric vehicles, the KARNO generator is positioned well to address these challenges. The insights and learnings from the powertrain segment further strengthen endeavors with the KARNO generator.”