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 out. “Nikola is discontinuing its operations with Romeo Power and has commenced a proceeding under the California Assignment for the Benefit of Creditors (ABC) statutory scheme,” a company spokesperson said.
Nikola is now liquidating Romeo’s assets, and a lot of valuable battery assembly equipment and other gear is on the auction block.
Auction firm Tiger is handling the sale, which will take place in Cypress, California and online. Interested firms can see the details on Tiger’s web site, and must place their bids before July 13.
Here’s a partial list of the goodies that are on offer:
Over $16 million worth of inventory, including:
- Batteries for Vehicles, Motorcycles & Commercial EVs,
- Over 200,000 Samsung Battery Cells
- Hardware, Wiring Harnesses, Cold Plates, Enclosures, Junction Boxes, Connectors, Transformers, Resistors and more
Battery assembly equipment:
- Robotic Sealant Dispensing Cell w/ Fanuc M-10iD Robot & Nordson Sealant Dispenser
- 2021 Pia Automation Robotic Pick & Place Cell w/ (2) Fanuc LR Mate 200iD Robots
- Fanuc M-10iA 12 Pick & Place Robot
- 2021 Pia Automation 12538-LW2 Welding System
- Endisys Potting/Adhesive Machine
- Bdtronic Top Cell Adhesive Dispenser
- Assembly Workstations and more