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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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