Acquisition strengthens Nikola’s vision to pioneer solutions for a zero-emissions world.
On Aug. 1, Nikola and Romeo jointly announced they had entered into a definitive agreement for this all-stock transaction.
Acquisition will bring battery pack engineering and production in-house.
The company marks a major milestone with the final phase of its move to Cypress, CA, advancing plans for new market expansion, enhanced production capabilities and operational efficiencies.
Acquiring BorgWarner’s interest in the JV frees the company from restrictions limiting its commercial activities.
Susan Brennan brings to the role more than 30 years of experience as a global leader in the automotive and energy industries.
HES and its affiliates intend to purchase 500 BEVs for fleet implementation between 2022 and 2025.
The combined company will be renamed Romeo Power, Inc. and trade on the New York Stock Exchange under the ticker symbol “RMO.”
The company will trade under the new ticker symbol “RMO.”