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Hyliion Holdings Corp. plans to exit the Class 8 electric powertrain business, the company said Nov. 8, less than a month after beginning a strategic review of its options for the unit.

Hyliion Holdings Corp. is reviewing options for its electric powertrain business, including selling it, the original equipment manufacturer said, citing a need to raise funds as costs rise.

AUSTIN, Texas — Hyliion Holdings Corp. showcased its electric powertrain technology Oct. 14 during a ride-along at American Trucking Associations’ Management Conference & Exhibition.

Hyliion Holdings Corp., which went public in 2020, reported a higher net loss on modest revenue in the third quarter. But the electrified powertrain provider ended the quarter with over $455 million of cash and marketable investments.

Hyliion Holdings Corp. announced Jon Panzer joined the company as chief financial officer.

Hyliion Holdings Corp., a provider of electrified powertrain solutions for Class 8 semi-trucks, announced it entered into a definitive agreement to acquire a new fuel-agnostic generator, the Karno, from GE Additive, a unit of GE.

Hyliion Holdings Corp. continued to build up orders for its premier electric powertrain system during the second quarter of 2022, the company reported Aug. 9.

Hyliion Inc. announced it is collaborating with Cummins Inc. to bring Hyliion’s natural gas extended range powertrain to North American trucking on schedule.

Hyliion Holdings Corp. reported a net loss and higher revenue in the first quarter as it worked to move its core electric products into the market.

Hyliion Holdings Corp. announced private fleet GreenPath Logistics ordered 50 Hyliion Hypertruck ERX powertrains.