02
Aug
14:55
Nikola Motor buys Romeo Power in vertical integration move
US vehicle manufacturer Nikola Motor is purchasing California-based battery company Romeo Power for $144 million, Kallanish reports.
The acquisition proposed at a 34% premium on Romeo shares will give Nikola access to critical battery pack engineering and production process, with a domestic manufacturing facility in California. Romeo produces lithium-ion battery modules and packs for commercial vehicle applications.
Nikola told investors the vertical integration…
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Very good overview of the weekly steel market.
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