The market is roaring today, and EV investors continue to be among the most well-rewarded. Accordingly, investors in Hyliion (NYSE:HYLN) ought to be very happy today. HYLN stock is up more than 10% today on some pretty significant news.
Let’s take a look at this announcement, and discuss why this is so important for investors.
Hypertruck Getting Lots of Attention
Today, Hyliion founder Thomas Healy announced the company’s on track to get his $220,000 Hypertruck on roads, soon. The target date for this EV electric powertrain semi truck to hit the market? Later this year.
Healy appears to be highly confident this timeline is achievable. In his words, “The hypertruck is going to be coming to market next year. Later year this year, we are going to start delivering demo trucks to fleets and then next year, starting commercialization.” Indeed, there’s little room for interpretation here, and investors have gotten the memo.
This delivery timeline is much faster than many have expected. Other companies such as Tesla (NASDAQ:TSLA) have been working on developing such a product. Currently, it appears Hyliion is in the lead, ready to be come to market first with an EV semi truck. The extent to which a first-mover advantage will provide a moat remains to be seen.
Indeed, competition in this space is only going to heat up in years to come. However, this announcement is broadly bullish for investors focused on achieving real carbon emission reductions.
Battery Improvements Another Advantage for HYLN Stock
As I touched on in a recent piece, HYLN stock is a highly sought after commodity not only for its EV semi truck product, but its battery technology.
This improvement in battery technology comes from a next-generation battery module integrating Toshiba’s LTO cells with existing Hyliion technological advancements. What does this mean for Hyliion’s customers? Longer battery life, improved safety and higher charging rates.
Accordingly, Hyliion boasts a Hypertruck that has the potential for some of the fastest charging speeds possible today. The company’s improved battery technology has the potential to be recharged in as little as 8 minutes. This is incredibly important for larger EV vehicles that tend to take longer to charge, and need to travel longer distances.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.