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What Is Driving The HYLN Stock Higher Today?

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Stocks of Hyliion Holdings Corp. (NYSE: HYLN) were trading up 12.52% in early trades today. Hyliion shares were trading at $12.22 per share at last check.

A slight dip of about -1% took place during the previous session for Hyliion stock to close the session at $10.86. Over the last 12 months, HYLN stock increased by 8.28%, and in the past week, the stock has moved upward by 2.36%. HYLN stock has lost a total of -29.16% over the past three months, as well as -72.51% over the past six months.

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Further, the HYLN was currently valued at $1.80 billion and had 104.32 million outstanding shares. The HYLN stock has been soaring on the news of a trucking industry-led development platform.

The platform was created for what?

Hyliion mission is to reduce the carbon output and greenhouse gas emissions of heavy-duty commercial trucks through the development of electrified powertrain solutions. HYLN increases fleet efficiency by simplifying fuel management and integrating fuel savings with existing fleet operations.

In a press release today, Hyliion announced the creation of the Hypertruck Innovation Council which will support the development of HYLN’s Hypertruck powertrain solution by bringing together fleet, logistics, and transportation leadership.

The Council represents over 100,000 heavy-duty Class 8 trucks worldwide, and will provide key insights to Hyliion (HYLN) as they shape the development of the Hypertruck.

HYLN’s electric drive train will provide superior performance, reduced emissions, and lower operating costs for Class 8 commercial trucks.

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