Business
Hyliion and Alkhorayef Join Saudi–U.S. Investment Forum During U.S. Presidential Visit, Signing Strategic MOU for $1 Billion Business Opportunity in the Energy Sector
AUSTIN, Texas, May 21, 2025--Hyliion Holdings Corp. (NYSE American: HYLN), developer of the innovative KARNOTM Power Module, and Alkhorayef Industries Company, a leading Saudi Arabian industrial conglomerate, announced the signing of a strategic memorandum of understanding (MOU) during the Saudi–U.S. Investment Forum 2025 in Riyadh. The MOU establishes a collaborative effort to validate, adapt, scale, and assemble KARNO Power Modules for the Saudi Arabian market, outlining a potential $1 billion
About this update from Hyliion Holdings Corp.
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