Follow Fleets are very much a "show me" type of industry before large-scale investments are made, according to Hyliion. It is designed to be installed on most major Class 8 commercial vehicles. Once the deal is finalized and the ticker symbol changes, more Hyliion shares will hit the market, roughly double the 23 million share float today. Cuyahoga Falls, Hyliion and Dana's strategy is to showcase the hybrid technology using a one-truck demo, to gain traction with fleets. The hybrid system is installed on an International LT Series chassis and leverages Dana’s latest lightweight, fuel-efficient S23-175 drive axle and reliable SPL driveline, delivering optimal performance and powertrain efficiency. “I’m a gearhead; I grew up racing,” says Healy, who hails from Massachusetts and competed as a teenager at a national level, racing cars and go-karts. Eligible bachelor Healy joins some illustrious company among the nation’s youngest self-made billionaires; John Collison, cofounder of Stripe, and Evan Spiegel of Snapchat are both 30. Hyliion… For more information on Hyliion, visit AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Inc. (Hyliion), a leader in electrified powertrain solutions for Class 8 commercial vehicles, and Dana Incorporated (NYSE: DAN), a leader in commercial vehicle drivetrains known for its Spicer Electrified technologies, have launched a national program with Idealease to demonstrate Hyliion’s Hybrid Diesel Powertrain to Idealease customers. The investment is another step in a cadence of strategic transactions to position Dana as the leader in e-Propulsion. Dana’s investment reinforces the strategic relationship between the two companies to advance vehicle electrification in the transportation industry. By signing up to receive our newsletter, you agree to our, Hyliion CEO: Merger will pave way for high-volume hybrid tech production, Trucks, trailers, tonnage: What transport data says about the state of the industry, How United Petroleum Transports kept up business as oil demand tumbled, JB Hunt grapples with driver shortage and unloading delays, Volvo orders increase 61% as fleets resume replacement, Survey: C-Suite leaders find social distancing, remote work a hindrance. In 2017 Forbes named Healy as a finalist in our annual 30 Under 30 project. Idealease will allow short-term rentals of the truck fitted with the green technology. Hyliion, founded in 2015, develops intelligent, electric-hybrid architectures for Class 8 vehicles that can be installed on new trucks or retrofitted on existing trucks, essentially turning a traditional 6×2 truck into a 6×4 hybrid. Kenworth to produce its first Class 8 battery-electric truck in 2021, Long-haul truckers should prepare now to transition to zero-emissions, Trucking fatalities static despite safety tech developments. The firm operates a service and installation center in Pittsburgh and a battery team in California. Subscribe to Rubber & Plastics News to get the best coverage and leading insights in the industry. “The commercial transportation industry has reached a pivotal point where environmental impact is paramount to business success. About Hyliion Mark Wallace, president of Dana commercial vehicle driveline technologies, will become a member of Hyliion's board of directors. If reduced business travel and online shopping remain trends post-pandemic, tanker truck fleets will need to diversify their customer mix to keep demand steady. Hyliion’s innovation combined with Dana’s 115-year history of delivering efficient, high-performance drivetrain components will allow both companies to realize a greener future on an accelerated timeline.”. The benefits were clear—the e-axle would provide a helping hand, adding power and torque that allowed the diesel block to work more efficiently, improving fuel mileage and lowering emissions. "As we've been getting closer and closer, and as Dana made more of those investments and acquisitions, it's gotten to a point where when you bring these two organizations together we now have a complete systems approach for electric and hybrid vehicles.". Hyliion and Dana have teamed up to demonstrate Hyliion's hybrid diesel powertrain to Idealease customers through the end of the year. . Mark Wallace, president of Dana Commercial Vehicle Driveline Technologies, will become a member of Hyliion’s board of directors. The stakes are increasing, as states make efforts to curb Class 8 emissions and follow California's lead. Vincent Cubbage, CEO of Tortoise Corp., picked through 200 startups while looking for one to back with the special purpose acquisition company (or SPAC) his team set up in 2018.

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