We’ve seen a large increase of electric vehicle startups that have been receiving massive cash infusions over the past few years. However, there are a lot of positive aspects for Hyliion that set it apart from the crowd. Some of these aspects include owning their own battery technology and allowing their powertrain systems to be retrofitted to existing trucks.
When compared to similar electric vehicle startups, the company does appear to be “much closer to being a reality,” CNBC’s Jim Cramer stated. Unfortunately, Hyliion’s merger with Tortoise Acquisition, has tanked their stock from the low $50s all the way down to less than $30 per share.
Despite their brilliant manufacturing strategy, Cramer said to be prudent about chasing the stock at its current trading levels and should wait until it’s closer to the $20 range. “Let it come to you” he said.
Thomas Healy is a brilliant, thoughtful leader for Hyliion. His partnerships thus far have been impressive. From a recent tie-up with Wegman’s groceries to replace their diesel fleet to adding former Transportation Secretary Andrew Card to his Board, he is on to something with the fastest route-to-market solution for lowering Class 8 carbon emissions at a reasonable cost. Long-term buyers should consider Hyliion and not be bothered by the retail crowd losing interest after the successful merger with Tortoise Acquisition.