Hyliion Holdings has announced it is winding down its powertrain business, and will instead focus on its Karno generator business.
It will retain its powertrain technology for possible future use. The shift, Hyliion said, will help it retain cash and grow its generator business.
“The decision around our powertrain business was very difficult, but we believe it is a necessary step to safeguard our financial stability, especially given the current economic climate,” said Hyliion’s founder and CEO, Thomas Healy. “Our focus on Karno aligns with the growing demand for electricity. With commercial deliveries planned for the upcoming year, the Karno generator offers a more capital-efficient path to market.”
Hyliion had developed the Hypertruck ERX powertrain, featuring an electric axle that complemented a natural gas engine.
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