# Nikola agrees to acquire Romeo Power for $144M

Nikola Corporation will acquire Romeo Power, Inc. in an all-stock transaction valued at approximately $144 million, bringing battery pack engineering and production in-house. Romeo's Cypress, California facility will become Nikola's Battery Center of Excellence.

- Type: Acquisition
- Announced: 2022-08-01
- Where: Cypress, California, United States
- Value: $144.0M
- Status: announced
- Products: lithium-ion battery modules, battery packs, battery management systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Nikola](https://endata.com/companies/43688.md) (acquirer)
- [Romeo Power](https://endata.com/companies/50359.md) (target)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/nikola-agrees-to-acquire-romeo-power-to-bring-battery-pack-engineering-and-production-in-house-301596855.html), 2022-08-01: "Romeo has been a valued supplier to Nikola, and we are excited to further leverage their technological capabilities as the landscape for vehicle electrification grows more sophisticated."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.