Item
7.01 Regulation FD Disclosure.
On
April 7, 2021, Hyliion Holdings Corp. (“Hyliion” or the “Company”) issued a press release announcing the formation
of its Hypertruck Innovation Council. The Hypertruck Innovation Council is a collaboration that includes fleet and technology leaders
Agility Logistics, American Natural Gas, Anheuser-Busch, GreenPath Logistics, NFI, Penske Truck Leasing, Ruan Transportation Management
Systems, Ryder System, Inc., Schneider, Wegmans Food Markets, and Werner Enterprises (the “Council members”). The collaboration
does not in any way limit the Company’s ability to further commercialize the Hypertruck ERX.
A
copy of the press release is furnished herewith as Exhibit 99.1.
The
information in Item 7.01 of this report and the exhibit attached hereto are furnished and shall not be treated as filed for purposes
of the Securities Exchange Act of 1934, as amended.
Forward
Looking Statements
Statements
in this report, including all statements regarding the Hypertruck Innovation Council and our Hypertruck ERX, include “forward-looking
statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. All statements, other than statements of present or historical fact included in this report, regarding Hyliion
and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated
revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this
report, including any oral statements made in connection therewith, the words “could,” “should,” “will,”
“may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s
current expectations and assumptions about future events and are based on currently available information as to the outcome and timing
of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this
report. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s
ability to disrupt the powertrain market, Hyliion’s focus in 2021 and beyond, the effects of Hyliion’s dynamic and proprietary
solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX, the ability to meet 2021 and future
product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions
and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed
with the Securities and Exchange Commission (the “SEC”) on February 26, 2021 for the year ended December 31, 2020. Given
these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more
of the risks or uncertainties described in this report occur, or should underlying assumptions prove incorrect, actual results and plans
could different materially from those expressed in any forward-looking statements. Additional information concerning these and other
factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings
are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various
disclosures made in such filings.