Texas-based Hyliion ($HYLN) hit public markets last week with a business model that CEO Thomas Healy said will speed up the trucking industry’s transition to electric.
“Trucking is all about moving goods from point A to point B and doing it as economically as possible,” Healy told Cheddar. “What we’re able to do is take both the emission savings and the cost savings and bring those together and offer a solution that’s actually net carbon-negative emissions.”
Unlike competitors Nikola and Tesla, Hyliion is not offering a full-electric option. The company’s hybrid trucks use natural gas to power electric powertrains. Healy said the advantage is that Hyliion can ramp up production faster and beat the economics of diesel.
“By leveraging natural gas and, more specifically, renewable natural gas, we actually have a much lower cost than a normal diesel truck,” he said. “When you get into those sorts of economics, then