Urge Hyliion Board Of Directors to address investor Concerns

Urge Hyliion Board Of Directors to address investor Concerns

Started
10 November 2023
Signatures: 123Next Goal: 200
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Why this petition matters

Started by Sachyn Wagjiani

This letter is addressed to the Board of Directors.

As individual investors, we are concerned about the recent events that have taken place within the company. We are particularly concerned about the negative press  that retail investors have experienced regarding the company's conduct. We are particularly disappointed by the abandonment of Hypertruck ERX, a product that we had high expectations for. Additionally, we believe that the company has not treated loyal shareholders with due respect and transparency. 


We understand that the freight industry is currently in a difficult state, and we appreciate that many of the factors that have contributed to the current situation are beyond the control of the company. We recognize the importance of the company's mission of reducing greenhouse gas emissions by providing electric vehicle powertrain solutions to combat climate change, however, it is essential that this mission is underpinned by sound corporate governance and open dialogue with stakeholders.

 

As individual investors, it is our request that you publicly address these concerns in order to restore investor confidence. We are confident that the following actions will help to restore the company's reputation for sustainable transportation solutions:


1) Demonstrating a clear pathway to profitability, such as profit margins, component costs, operating margins, and efficiency.


 2)Regularly updating shareholders on social media platforms with meaningful content.


3) Considering the removal of Thomas Healy from his role as CEO, as he has been found to have repeatedly misled investors regarding the commercialization of ERX. While we recognize Thomas Healy's talent, we believe he would be more suitable for the role of Chief Technology Officer. 


4) Additionally, we suggest forming strategic partnerships with other fleets in order to generate additional revenue sources.

 

As shareholders, we are not so presumptuous as to assume that we can dictate a business strategy to the Board of Directors, who are highly knowledgeable in the industry. Nevertheless, we believe that the company could gain market acceptance if it were to share a more comprehensive and globally appealing vision.


We are convinced that the company has the potential to become a leader in clean transport solutions for the foreseeable future, and to gain insight into how this could be achieved and sustained would be beneficial to both current and prospective shareholders. We urge that we work together to achieve these objectives while maintaining trust and honesty in all aspects of operations.

 

 

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Signatures: 123Next Goal: 200
Support now
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