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Benzinga
Benzinga
Business
Shivani Kumaresan

Romeo Power Partners With Wrightspeed For Fleet Electrification

Romeo Power RMO California NYSE
  • Romeo Power Inc (NYSE:RMO) said it is working with electric vehicle (EV) powertrain manufacturer, Wrightspeed, to accelerate electrification in the bus and medium and heavy-duty truck market.
  • The parties will leverage Romeo Power's high-capacity battery packing and module technology along with Wrightspeed's high torque, high-efficiency powertrain system.
  • The companies intend to develop and sell repower kits to the addressable market.
  • Wrightspeed is developing "Powertrain in a Crate" kits that are chassis-specific and can be installed locally where fleets operate.
  • The battery packs will be manufactured at Romeo Power's new facility in Cypress, California, where production is scheduled to begin later in 2022.
  • Price Action: RMO shares are trading lower by 5.63% at $1.43 on the last check Friday.
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