LOS ANGELES–(BUSINESS WIRE)–Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader providing advanced electrification solutions for complex commercial vehicle applications, today announced that it has started shipping the first production pedigree packs to a key customer that manufactures all-electric heavy-duty vehicles.
This successful production launch is the culmination of a custom pack development program utilizing Romeo’s off-the-shelf modules and battery management system. The 80 kWh packs were prototyped and manufactured at Romeo’s 112,000 square foot factory in Vernon, California.
“Romeo has just reached an important milestone, not just for ourselves, but for zero-emissions commercial transportation as a whole. Our energy-dense batteries are now powering all-electric heavy-duty vehicles that must travel up to 350 miles on a single charge,” said Susan Brennan, CEO of Romeo. “It’s exciting to see our battery technology enabling this important step in electrification.”
Romeo will continue to increase production capacity for this customer and others at its new Cypress plant. Production is expected to begin at the new plant later this year, and the transition from Vernon to Cypress is expected to be completed in the third quarter of 2022.
About Romeo Power, Inc.
Founded in 2016 and based in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader providing advanced electrification solutions for complex commercial vehicle applications. The company’s suite of advanced battery electric products, combined with its innovative battery management system, provides the safety, performance, reliability and configurability its customers need to succeed. To follow all of Romeo Power, please follow the company on social media @romeopowerinc or visit www.romeopower.com.
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates”, “forecasts”, “expects”, “anticipates”, “plans”, “projects”, “intends”, “believes”, “seeks”, “may”, “will” , “should”, “future”, “propose” and variations of these words or similar expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements. Such forward-looking statements, including, without limited to, express or implied statements regarding Romeo Power’s ability to develop or sell new products, or seek customers in new products or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safety, efficiency, affordability, and durability, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectation that its customers will meet contractual purchase commitments within the time currently expected are not guarantees of performance, condition or future conditions. results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Romeo Power’s management, which could cause actual results to differ materially. of those discussed in the forward-looking statements. Important factors, among others, that could affect actual results or results include: Romeo Power’s ability to execute its plans to develop and commercialize new products and the timing of such development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need and ability to obtain additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; battery cell demand and supply shortages; the potential effects of COVID-19; and general economic and market conditions affecting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize, or if our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. except as required by law.