HYLN - Hyliion Holdings slides after warning of production delays due to semiconductor shortage

Hyliion Holdings Corp. (NYSE:HYLN) is down sharply in early trading after investors digest the company's Q3 earnings report and production update. Hyliion (HYLN) warns that it is extending the company's production and commercialization timelines longer than expected due to a shortage of semiconductors and several other key components. Fleets are said to be experiencing lead times on new truck purchases that extend out for delivery into 2023. Hyliion (HYLN) says it has already placed orders for all vehicles needed in 2022 and is working to secure build slots for the 2023 calendar year in an effort to mitigate further supply chain impacts to the ERX development schedule. Shares of HYLN are down 8.63% in premarket action to $8.05. HYLN is on Seeking Alpha's Catalyst Watch today with the Hypertruck ERX Roadshow starting.

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Hyliion Holdings slides after warning of production delays due to semiconductor shortage