Search Results Found For: "romeo"

Romeo Power Battery Plant liquidating—IP, industrial equipment, thousands of EV battery cells up for auction on September 7

Romeo Power is liquidating its 215,000-square-foot EV battery assembly plant in Cypress, California. A Tiger Group Online auction features thousands of lithium-ion battery cells, along with industrial assets such as robots, CNC machines, assembly and testing equipment, and the company’s intellectual property. “Available turnkey or in combinations of bulk lots, Romeo Power’s IP and other… Read more »

Nikola liquidates Romeo’s battery assembly assets: auction ends July 13

Electric truck maker Nikola is liquidating the assets of battery maker Romeo Power, which it acquired last August for about $144 million. Nikola, which also sources batteries from LG Energy Solution and Proterra, hoped that bringing battery manufacturing in-house would enable operational improvement and cost reductions. For whatever reasons, it doesn’t seem to have worked… Read more »

Nikola acquires Romeo Power to bring battery pack production in-house

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 »

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 »

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 »

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 »

2024 Dodge Charger Daytona: the ‘Brotherhood of Muscle’ goes electric

The Charger sedan and Challenger coupe exuded testosterone, courtesy of snarling V-8s. Dodge says the EVs that replace them will be just as noisy. The 2024 Dodge Charger Daytona is a Detroit anomaly: it’s a passenger car in an age of trucks and SUVs, it’s battery-electric when U.S. makers seem to be in an EV… Read more »

Stellantis unveils STLA Large, the second of its new “native EV” platforms

Stellantis has introduced a new “highly flexible, BEV-native platform that is the foundation for a wide range of upcoming vehicles for global markets in the D and E segments.” The STLA Large platform is one of four planned global BEV platforms—Small, Medium, Large and Frame—that will allow interchangeable battery cell chemistry, EDMs, power inverters and… Read more »

The heavy-duty electric truck market could break out in 2024

Electrifying heavy-duty trucks is essential if we’re to fight climate change and air pollution, but the pace of the transition has been painfully slow—many, many pilots, but few truly large-scale orders. For example, shipping giant Schneider acquired 92 Freightliner eCascadias in 2023—a good start, but only that, considering that the company currently operates over 10,000… Read more »