Public (NYSE: HYLN); pivoted from EV powertrains to the KARNO generator
Live · HYLN· NYSE American
as of 2026-09-17
$4.08▲ 6.81% today
≈ $729 Million market cap · −54.5% from peak
The rise & fall
6 moments · 2015–2024
The key moments, with employee sentiment along the way.
2015
🌱
2015
Founded to electrify the semi truck
Thomas Healy starts Hyliion out of Carnegie Mellon to build hybrid and electric powertrains for long-haul trucking.
Wikipedia
Oct 2020
📈
Oct 2020
The peak: a $1.6B SPAC debut$1.6B
Merges with Tortoise Acquisition Corp amid the EV frenzy; shares had spiked as high as $58.66.
CNBC
2022
💔
2022
Slips out of the club
No product at scale, and the EV-SPAC trade unwinds.
Macrotrends
2023
2023
Abandons the powertrain
Hyliion winds down its electric-truck powertrain business to bet everything on KARNO, a fuel-agnostic generator.
FreightWaves
Nov 2023
Nov 2023
$58.66 to $0.54
The stock touches 54 cents — down more than 99% from its frenzy-era spike.
MarketScreener
2023–24
💬
From the inside · Glassdoor reviews, 2023–24
Glassdoor reviews from the pivot described the powertrain shutdown as abrupt: employees recounted a workforce cut of roughly 80% that landed suddenly, capping years of shifting priorities and unclear direction.
Today
Today
Still in the club — and still trading
Live · HYLN · NYSE Americanas of 2026-09-17
$4.08▲ 6.81% today≈ $729M cap · −54.5% from peak
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Hyliion aimed to electrify long-haul trucking with hybrid and electric powertrains, and went public in October 2020 by merging with the SPAC Tortoise Acquisition Corp at a valuation of about $1.6B. Amid the EV-stock frenzy its shares spiked to $58.66, but it struggled to bring a product to market at scale.
The stock collapsed more than 90% — touching $0.54 in late 2023 — and Hyliion abandoned its electric-truck powertrain to bet on the KARNO, a fuel-agnostic generator.
Source: FreightWaves / CNBC / MarketScreener (~$1.6B valuation via Tortoise Acquisition Corp SPAC, Oct 2020; shares spiked to $58.66 then fell to $0.54 by Nov 2023)
