Who is Romeo power?

Romeo Power, Inc. (acquired by Nikola Corporation) | 12,328 followers on LinkedIn. Nikola is a technology disruptor and integrator, working to develop innovative energy and transportation solutions.

What happened to Romeo Corporation?

Upon completion of the transaction, Romeo became a wholly-owned subsidiary of Nikola. As a result of the acquisition, shares of common stock of Romeo ceased trading as of the close of the market on October 14, 2022 and will no longer be listed on the New York Stock Exchange. About Nikola Corporation

Why is Nikola buying Romeo power?

Nikola is buying Romeo Power to ensure stable supplies of battery packs for its Tre BEV electric semi. Nikola, a maker of battery- and hydrogen-powered trucks, is acquiring battery supplier Romeo Power in an all-stock deal worth $144 million that it says will ensure stable access to lithium-ion packs as it ramps up electric semi production.

How did Nikola acquire Romeo?

Nikola completed the acquisition of Romeo today through a second-step merger of a wholly-owned subsidiary of Nikola with and into Romeo, in accordance with Section 251 (h) of the General Corporation Law of the State of Delaware.

Is Romeo power ready for a zero-emissions future?

We look forward to creating a zero-emissions future together.” Robert Mancini, Romeo Power’s Chairman of the Board of Directors, added, “As Romeo’s largest customer, Nikola has been a cornerstone of our development and growth, and this is a natural evolution of our relationship.

Will Romeo become Nikola's battery center of Excellence?

It’s adding 400 Romeo employees and the company’s Cypress operations will become Nikola’s Battery Center of Excellence. “Part of this is defensive, to make sure nothing disruptive happens here.”