On the show floor, Hyliion CEO, Thomas Healy, shared, “Hyliion is the class 8 electrification leader with revolutionary advancements in battery technology and fully instrumented machine learning-based software enabling fuel savings and emissions reductions that substantially reduce operating costs of a trucking fleet. Hyliion will get $560 million of cash in the deal, to invest in rolling out product. Electrification is driving the automotive suppliers to partner with new companies to enhance their knowledge of electric batteries, which is the driving force behind Dana taking an equity position as a lead investor in Hyliion Inc. Financial terms were not disclosed. Other big winners include Howard Jenkins, of the billionaire Publix supermarket fortune, whose Axioma Ventures holds about 13% of the pro forma Hyliion equity, worth about $700 million. Leading truck leasing company to conduct national tour of Hyliion’s hybrid powertrain technology for U.S. commercial fleets, Hyliion and Dana have launched a national program with Idealease to demonstrate Hyliion’s Hybrid Diesel Powertrain to Idealease customers. “Idealease is committed to equipping our customers with the world’s leading technology that reduces operating costs while reinforcing our commitment to building a more sustainable commercial transportation industry,” said Andy McEnaney, vice president of affiliate services at Idealease. Mark Wallace, president of Dana Commercial Vehicle Driveline Technologies, will become a member of Hyliion’s board of directors. Based in Maumee, Ohio, USA, it is a people-centric organization and has been named a top employer of choice around the world, including significant honors in Asia, India, Italy, Mexico, and the United States. Hyliion’s new financing round is comprised of Dana, existing investors, and new financial and strategic investors. In 2019, the company reported sales of $8.6 billion with 36,000 associates in 34 countries across six continents. For more information, please visit www.dana.com. About Idealease For Hyliion, the Idealease one-truck demo is another way to showcase its diesel hybrid technology, a "third way" between battery-electric vehicles and fuel-cell electric vehicles. Truck vs. train: Which has the upper hand as spot rates soar? For more information, visit hyliion.com. In addition, Idealease National Accounts coordinate and manage the service of some of North America’s largest private fleets. “Do you want engineers designing the hinge or the latch or do you want them designing the battery management system and the algorithm.” Existing truck makers already had big factories and happy customers.

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