Hyliion Announces Long-Range Version of Hypertruck ERX™ Targeting Zero-Emission Vehicle Credits
July 28 2021 - 4:31PM
Business Wire
- The long-range Hypertruck ERX™ will offer 75 miles of
all-electric range and more than 1,000 miles of total range at
product launch
- Increased all-electric range will meet California’s Advanced
Clean Truck Rule regulations and enable the production vehicle to
qualify for zero-emission vehicle sales credits
- Hypertruck ERX™ enables fleets to potentially achieve
net-negative emissions while utilizing renewable natural gas (RNG)
to recharge the battery
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, today
announced a long-range variant of the Hypertruck ERX™, which will
be the first version brought to market. This enhanced option, which
will offer 75 miles of all-electric range, will enable Hypertruck
ERX™ equipped production trucks to qualify for zero-emission
vehicle (ZEV) credits by meeting California’s Advanced Clean Truck
(ACT) Rule.
The Hypertruck ERX™ will offer more than 1,000 miles of total
range, enabling freight hauling capabilities that are comparable to
diesel. The innovative electric powertrain system uses an onboard
generator to continually recharge the battery pack while driving,
eliminating the significant range and charging infrastructure
challenges that battery-only electric trucks now face. The
Hypertruck ERX™ is also plug-in capable, allowing fleets the
operational flexibility to recharge with low-cost renewable
electricity from the grid.
“At Hyliion, we agree that climate protection and air quality
improvement can’t wait. But, for long-haul fleet operators whose
success centers around reliable freight delivery, there is no room
for error as they look for viable alternatives to diesel,” said
Thomas Healy, Founder and CEO of Hyliion. “That is why Hyliion is
collaborating with major truck manufacturers to offer the
long-range iteration of the Hypertruck ERX™ and assist freight
transportation fleets to achieve the critical emission reduction
mandates California and other states require without compromising
range, operating costs or performance.”
Taking a modular approach to the platform to meet OEM demand,
address fleet needs and satisfy government mandates, the production
Hypertruck ERX™ will be available in multiple iterations, including
a reduced electric range model that will follow the release of the
long-range version.
The ACT rule, approved by the California Air Resources Board in
June 2020, requires Class 8 truck tractor manufacturers to sell
ZEVs in California, beginning with Model Year 2024. The sale of a
battery or fuel cell vehicle earns one credit towards an OEM’s ACT
obligation. Based on this rule, truck manufacturers will be able to
achieve up to a 75% ZEV sales credit by selling a Class 8 truck
with the Hypertruck ERX™ electric powertrain.
While California was the first state to introduce a ZEV sales
requirement for medium- and heavy-duty trucks, both New Jersey and
Washington have initiated formal regulatory processes to adopt the
ACT Rule. Massachusetts, Rhode Island, New York, and Connecticut
have also considered adoption of California’s ACT regulation.
A Hypertruck ERX™ validation unit will be on display for the
first time in Hyliion’s booth at the Advanced Clean Transportation
Expo on August 31 and September 1 at the Long Beach Convention
Center.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and
greenhouse gas (GHG) emissions of Class 8 commercial trucks by
being a leading provider of electrified powertrain solutions.
Leveraging advanced software algorithms and data analytics
capabilities, Hyliion offers fleets an easy, efficient system to
decrease fuel and operating expenses while seamlessly integrating
with their existing fleet operations. Headquartered in Austin,
Texas, Hyliion designs, develops, and sells electrified powertrain
solutions that are designed to be installed on most major Class 8
commercial trucks, with the goal of transforming the commercial
transportation industry’s environmental impact at scale. For more
information, visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
present or historical fact included in this press release,
regarding Hyliion and its future financial and operational
performance, as well as its strategy, future operations, estimated
financial position, estimated revenues, and losses, projected
costs, prospects, plans and objectives of management are forward
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oral statements made in connection therewith, the words “could,”
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other similar expressions are intended to identify forward-looking
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on management’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. Except as otherwise required
by applicable law, Hyliion expressly disclaims any duty to update
any forward-looking statements, all of which are expressly
qualified by the statements herein, to reflect events or
circumstances after the date of this press release. Hyliion
cautions you that these forward-looking statements are subject to
numerous risks and uncertainties, most of which are difficult to
predict and many of which are beyond the control of Hyliion. These
risks include, but are not limited to, Hyliion’s ability to disrupt
the powertrain market, Hyliion’s focus in 2021 and beyond, the
effects of Hyliion’s dynamic and proprietary solutions on its
commercial truck customers, accelerated commercialization of the
Hypertruck ERX, the ability to meet 2021 and future product
milestones, the impact of COVID-19 on long-term objectives, the
ability to reduce carbon intensity and greenhouse gas emissions and
the other risks and uncertainties set forth in “Risk Factors”
section of Hyliion’s annual report on Form 10-K/A filed with the
Securities and Exchange Commission (the “SEC”) on May 17, 2021 for
the year ended December 31, 2020. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. Should one or more of the risks or
uncertainties described in this press release occur, or should
underlying assumptions prove incorrect, actual results and plans
could different materially from those expressed in any
forward-looking statements. Additional information concerning these
and other factors that may impact Hyliion’s operations and
projections can be found in its filings with the SEC. Hyliion’s SEC
Filings are available publicly on the SEC’s website at www.sec.gov,
and readers are urged to carefully review and consider the various
disclosures made in such filings
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version on businesswire.com: https://www.businesswire.com/news/home/20210728006073/en/
Hyliion Holdings Corp. Ryann Malone
press@hyliion.com (833) 495-446
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