Hyperdrive
GE Sells Generator Technology for Stake in EV Startup
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General Electric Co. is selling new generator technology to startup Hyliion Holdings Corp. and will take a roughly 3% stake in the electric trucking startup in a cash-and-stock transaction.
The system, cooked up by engineers at GE’s 3-D printing unit, can use as many as 20 different types of fuel and will be integrated into Hyliion’s next-generation electric truck powertrain platform. Cedar Park, Texas-based Hyliion is also paying $15 million in cash for the GE assets as well as related intellectual property and some 3D-printing machines needed to manufacture the generators.