A SPAC, or Special Purpose Acquisition Company, is a way for private companies to go public without the large fees and IPO roadshows. VectoIQ Acquisition Corp. (VTIQ) recently merged with Nikola Motor (NKLA) and investors are now valuing this company, with no sales, at $24 billion or $66 per share.
Hyliion is a startup maker of diesel-electric truck components. The company already has sales and has a deal with Penske. Hyliion upfits Class 8 trucks to run on dual fuel sources. It is providing three of its 6X4HE heavy-duty models to Penske Truck Leasing. Hyliion investor and electrification partner, Dana Inc (DAN) showed the first of the trucks in March at the 2020 American Trucking Associations' Technology & Maintenance Council meeting in Atlanta.
-Hyliion Inc. designs and develops hybrid suspension systems. The Company hybridizes the trailer portion of a tractor trailer combination and uses regenerative braking to capture power when the trailer is slowing down, as well as reuses it to help power the trailer up hills and improve fuel savings. Hyliion serves semi-trailers and trucking industries in the United States
-Hyliion evolved out of a passion for horsepower. As a mechanical engineer and motorsports racer, founder and CEO Thomas Healy set out to bring the advantages of hybrid technology to tractor trailers. Today, Hyliion is an industry leader in Class 8 electrification with a growing team of talented engineers and visionaries and a robust network of strategic industry partnerships. With an ever-growing demand for shipping products, Hyliion aims to provide technology solutions that transform transportation’s environmental impact.
-Hybridize your Class 8 truck with the Hyliion Hybrid system and enjoy lower emissions, lower fuel costs and a better driver experience.
