Hyliion Holdings Stock Price Increased Over 5% Pre-Market: Why It Happened

By Amit Chowdhry ● April 7, 2021
  • The stock price of Hyliion Holdings Corp (NYSE: HYLN) increased by over 5% pre-market. This is why it happened.

The stock price of Hyliion Holdings Corp (NYSE: HYLN) – a leader in electrified powertrain solutions for Class 8 semi-trucks – increased by over 5% pre-market. Investors appear to be responding to the company announcing the formation of the Hypertruck Innovation Council, a select group of fleet, logistics, and transportation industry leaders that will actively support the development of Hyliion’s Hypertruck powertrain solution.

Hyliion Hypertruck ERX infographic

Representing more than 100,000 Class 8 commercial trucks globally, the Council is going to collaborate closely with Hyliion to provide key user insights in the development of the Hypertruck, the company’s electric powertrain for Class 8 commercial trucks that will provide superior performance, emissions reductions, and lower operating costs.

The council members will be the first to have access to and put real-world miles on the Hypertruck ERX demonstration units, providing valuable fleet and driver feedback. And with an eye on furthering sustainable practices in the commercial trucking industry, the Council shares Hyliion’s focus on reducing carbon emissions without sacrificing performance.

KEY QUOTES:

“Our customers are at the core of our business. Their feedback and collaboration are crucial to the success of our Hybrid solution, which has already logged millions of real-world miles. That’s why we have brought together the Hypertruck Innovation Council, a group of commercial transportation industry leaders, who will be the first to test and review demonstration units of the Hypertruck ERX and whose feedback will be essential as we improve upon our technology. The Council will also help us ensure that the unique and diverse needs of today’s fleets continue to be reflected in our products as Hyliion develops the next generation of industry-leading, environmentally conscious technology and powertrain solutions.”

“Now more than ever, fleets need efficient and affordable technologies that also address broader sustainability goals. Our collective strengths will help Hyliion unlock the potential for electrification technology while advancing our customers’ operations and the industry at-large.”

— Thomas Healy, Founder and CEO of Hyliion

“With one of the largest dedicated fleets in the U.S., Anheuser-Busch is committed to leading the industry towards zero-emissions commercial transportation by improving the sustainability of our own logistics operations. The most impactful technologies come from close collaboration with experienced and innovative minds, and we’re excited to participate in the Hyliion Hypertruck Innovation Council to support the development of a transportation solution that meets the complex needs of today’s fleets while working to build a more sustainable future.”

— Angie Slaughter, Vice President of Sustainability and Logistics Procurement at Anheuser-Busch

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.