Hyliion Accelerates Growth, Begins Expansion of Its Austin, Texas Headquarters
08 June 2021 - 10:57PM
Business Wire
- Additional office space and amenities will accommodate growing
team of up to 500 employees
- Redesign will more than double powertrain installation capacity
and triple battery development space
- Hyliion welcomes industry veteran Richelle Frank as Vice
President of Operations; Frank to oversee the company’s facility
redesign and further advance broader manufacturing strategy towards
commercialization
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in
electrified powertrain solutions for Class 8 semi-trucks, today
announced that it has begun a significant expansion of its Austin
headquarters. Driven by a growing staff and the need for additional
installation and testing capacity, the multi-million-dollar project
will be broken into three stages, focusing on increased office
space, a reconfigured installation warehouse, and a new research
and development testing area. The full project is expected to be
completed next year.
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Rendering of Hyliion showroom that will
be added in significant expansion of Austin headquarters (Photo:
Business Wire)
“Our people and our products are at the core of this expansion,”
said Thomas Healy, founder and CEO of Hyliion. “We are growing to
accommodate current and expected future demand for our innovative
powertrain solutions. Each decision made in our building redesign
is intended to support our commercialization goals as we work
toward the rollout of our new Hybrid unit later this year and the
launch of our Hypertruck ERX.”
The full project will increase facility capacity by 50%, and
will include:
- Expanding the facility footprint to 120,000 square feet
- Adding 20,000 square feet of office space, enabling the entire
facility to accommodate up to 500 employees
- More than doubling the installation footprint and the number of
trucks able to undergo simultaneous installation
- Tripling the size of the area where Hyliion develops its
proprietary battery technology
- Increasing the testing area, where Hyliion’s powertrain and
batteries are assessed and validated before becoming next
generation solutions
- Building a second floor and a fitness center
Richelle Frank, who recently joined Hyliion as Vice President,
Operations, will oversee the day-to-day progress of the redesign –
in addition to her duties leading a growing operations team and
managing all of Hyliion’s installation and assembly programs.
“I am thrilled to have joined such a talented team and a company
whose mission is helping to bring superior performance, emissions
reductions, and lower operating costs to the commercial trucking
industry,” said Frank. “I look forward to accelerating and building
upon the strategic actions that Hyliion has already undertaken
towards broader commercialization of our products.”
With 25 years of experience managing facilities and assembly
programs across the transportation industry at companies such as
Chrysler/DaimlerChrysler, Navistar, and recently as Production
Director at Daimler Trucks North America, Frank brings to Hyliion a
dedicated focus on sustained safety, quality, and flexibility of
manufacturing operations.
“Richelle is an industry veteran with an impressive breadth of
experience building best-in-class processes and teams at
high-quality, well-established organizations across the
transportation industry,” added Healy. “Her ability to adeptly
assess, develop, and oversee high-functioning processes will be
invaluable for Hyliion as we advance our manufacturing strategy and
drive commercialization.”
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
looking statements. When used in this press release, including any
oral statements made in connection therewith, the words “could,”
“should,” “will,” “may,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” the negative of such terms and
other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
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/20210608005738/en/
Hyliion Holdings Corp. Ryann Malone
press@hyliion.com (833) 495-4466
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