Earnings release
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HYLIION Exhibit 99.1 Hyliion Holdings Corp. Investor Contact Louis Baltimore ir@hyliion.com Press Contact Ryann Malone press@hyliion.com ( 833 ) 495-4466 HYLIION REPORTS THIRD QUARTER 2021 FINANCIAL RESULTS AUSTIN , Texas ( NOVEMBER 9 , 2021 ) —Hyliion Holdings Corp. ( NYSE : HYLN ) ( “ Hyliion ” ) , a leader in electrified powertrain solutions for Class 8 semi - trucks , today reported its third quarter 2021 financial results . Key Business Highlights • • • Announced the addition of Secretary Elaine Chao and Mary Gustanski to the Hyliion Board of Directors Secured a 40 - unit reservation from Mone Transport and partnered with GreenPath Logistics for the initial controlled fleet trials of the Hypertruck ERX Unveiled new Hypertruck ERX showcase unit at ACT Expo , generating strong fleet , industry and regulatory interest Launched improved Hybrid powertrain solution called “ Hybrid eX " and expect to begin recognizing revenue on these units in the fourth quarter of 2021 Initiating the Hypertruck ERX Roadshow , beginning at Wegmans headquarters on November 10th , to allow fleets to experience the flagship product firsthand Supply chain shortages and long lead times for components , coupled with the required development , testing and validation of the Hypertruck ERX , are impacting the commercialization timeline Executive Commentary Thomas Healy , Hyliion's Founder and Chief Executive Officer , said , “ After a first half of the year filled with rapid progress and growth for Hyliion , our team continues to build on this momentum as evidenced by the commercial launch of our Hybrid ex powertrain and accomplishment of some major milestones in our Hypertruck ERX Multi - Phase Development Program . " " Today we begin our Hypertruck ERX Roadshow at the headquarters of Wegmans Food Markets , one of our Hypertruck Innovation Council Members , with a two - day showcase event focused on demonstrating the features and benefits of the powertrain firsthand . As we continue providing these showcases to our Hypertruck Innovation Council Members and other interested fleets , we expect to see a continued increase in the customer interest that we have already been receiving . " Board of Directors Expansion