Colorful electric truck startup Nikola Motor (NASDAQ: NKLA) will acquire energy storage specialist Romeo Power (NYSE: RMO) in an all-stock transaction. The deal values Romeo’s equity at approximately $144 million. Headquartered in Cypress, California, Romeo is focused on designing and manufacturing battery modules and packs for commercial vehicles. As Romeo’s largest customer, Nikola expects the… Read more »
Search Results Found For: "Romeo Power"
Romeo Power and PACCAR enter long-term EV supply agreement
Romeo Power has announced a long-term supply agreement with PACCAR to provide battery packs, modules and battery management systems for PACCAR’s EVs. Under the agreement, Romeo Power will be a battery supplier for Peterbilt 579 and 520 EVs in the US and Canada through 2025. The start of production is anticipated to begin after 2021…. Read more »
Heritage and Romeo Power invests in future of battery recycling
Heritage has launched a new division, Heritage Battery Recycling (HBR), to address the growing market demand for safe, sustainable solutions for lithium-ion batteries at the ends of their lives. HBR’s goal is to recover and reuse critical battery materials that exist in limited supplies across the globe. In collaboration with Romeo Power, HBR will develop… Read more »
Star-studded startup Romeo Power to manufacture EV battery packs
Santa Monica startup Romeo Power plans to manufacture EV-specific battery packs that it says will outperform any systems on the EV market today. The recently-launched company has over 50 employees, and an executive team that includes some well-known EV pioneers. Co-Founder and CTO Porter Harris is a veteran of SpaceX and Faraday Future, and VP… Read more »
Waste haulers are beginning to order EVs as power, weight, range and cost converge
Waste haulers have been experimenting with various types of alternative-fuel vehicles for years. As a recent article in Transport Dive reports, major public companies including Waste Management, Waste Connections and Republic Services, as well as private haulers such as Recology, and some municipally run fleets, have tested various types of EVs, as well as other… Read more »
Battery pack maker Romeo Systems to go public in $1.33-billion SPAC deal
EV battery pack manufacturer Romeo Systems plans to go public through a merger with a special purpose acquisition company (SPAC) called RMG Acquisition in a $1.33-billion deal, which is expected to close in the fourth quarter of 2020. The combined company will be listed on the NYSE under the symbol RMO. The transaction is expected… Read more »
Battery storage companies raised $1.4 billion in first half of 2019
Battery storage companies raised $1.4 billion in 17 deals during the first half of 2019, according to a report from Mercom Capital Group. That figure is up 139 percent from H1 2018, during which companies raised $543 million in 30 deals. There were six battery storage mergers and acquisitions in H1 2019, compared to eight… Read more »
Ford unveils its 2022 F-150 Lightning electric pickup truck
The most popular vehicle line in the US now includes a battery-electric pickup truck. Is this the turning point for EVs? Wednesday evening, Ford unveiled its long-awaited battery-electric pickup truck, dubbed the F-150 Lightning. The name hearkens back to “the fastest truck in the world,” the Lightning F-150 SVT, which launched in 2002 with a… Read more »
2020 Porsche Taycan Turbo S drive review: The most enjoyable EV I’ve ever driven
Even experienced auto writers approach driving high-performance cars with caution. If you mostly test mass-market cars, as I do, trepidation may creep in: Will I be able to do this car justice? Will it be manageable on the road? Are there special steps I should take to avoid damaging a car that costs six figures?… Read more »
Fiat Chrysler CTO: Fuel cells are the distant future
Fiat Chrysler is the automaker that EVangelists love to hate. The brand has nary a hybrid in its lineup (although a plug-in powertrain for the Town & Country minivan is expected to appear in 2016), and, like some evil stepmother in a fairy tale, CEO Sergio Marchionne heaps derision on the feisty little Fiat 500e,… Read more »