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Hyliion Holdings Corp. shares declined 14.2% to $1.02 in pre-market trading after the company announced strategic review of alternatives for Electric Powertrain Business.
In total, Hyliion reported a net loss of $35.2 million for the second quarter, which is up from the $33.5 million loss the company reported a year ago, as lower cost of sales and higher interest income this year nearly offset higher operating expenses.