Benzinga | Aug 31, 2021 08:34AM EDT

Hyliion Highlights Launch Of 'Hybrid eX' Hybrid Powertrain Solution

* Improved model aims to increase efficiency and payload; enhance driver experience

* Hybrid eX to be unveiled at the American Clean Transportation (ACT) Expo on August 31 with customer units shipping later this year

* Hyliion will begin to recognize revenue on Hybrid eX units following launch

AUSTIN, Texas--(BUSINESS WIRE)-- Hyliion Holdings Corp. (NYSE:HYLN) ("Hyliion"), a leader in electrified powertrain solutions for Class 8 commercial semi-trucks, will be unveiling an improved model of its Hybrid system at the American Clean Transportation Expo in Long Beach, California.

Designated the Hyliion Hybrid eX, this updated version of Hyliion's sustainability-focused hybrid powertrain offers fleets a lighter solution that is easier to install, service, and operate. The Hybrid eX draws upon the real-world feedback Hyliion has received from customers and the millions of miles logged with the previous system.

The Hybrid eX features a number of improvements over the earlier Hybrid configuration, including:

* A simpler, more rugged design with a consolidated battery box that aims to significantly streamline the installation process

* Reduced net system weight, allowing for greater payload

* New e-axle for improved efficiency

* Refined software and cloud connectivity aiming to deliver over-the-air performance and proprietary updates more efficiently

* New automatic traction-assist feature and updated control interfaces striving for improved driver experience

* Cybersecurity advancements to adhere to the latest in industry best practices

"The launch of the enhanced version of our Hybrid powertrain is a major milestone in our Hybrid commercialization process and reflects the ongoing work we are doing to innovate for the benefit of commercial fleets and the environment," said Thomas Healy, Founder and CEO of Hyliion. "We expect these improvements to make the Hybrid that much easier for fleets to adopt, while also helping them to achieve their ESG and emissions targets."

Hyliion will unveil the Hybrid eX for the first time today at the ACT Expo in Long Beach, California and is expected to begin shipping Hybrid eX units in the latter part of 2021. Initial recipients include both returning Hyliion customers, and new customers like Werner Enterprises, whose semi-truck will be featured in Hyliion's booth at the ACT Expo. After the launch of the Hybrid eX product, the company expects to recognize revenue on these units.

Hyliion's Hybrid solution is designed for Class 8 diesel and CNG commercial trucks, providing fuel savings, performance and other improvements via an energy regeneration powered electric hybrid system, depending on truck configuration and fuel type. Combined with Hyliion's proprietary software and battery technology, this comprehensive solution--which also contains an integrated hoteling auxiliary power unit (APU) to reduce idling--aims to assist fleets to achieve maximum operational performance, driving progress towards their sustainability goals.