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Reading: Nikola to Buy Battery Maker Romeo Power for $144 Million
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The Wall Street Publication > Blog > Tech > Nikola to Buy Battery Maker Romeo Power for $144 Million
Tech

Nikola to Buy Battery Maker Romeo Power for $144 Million

Editorial Board Published August 1, 2022
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Nikola to Buy Battery Maker Romeo Power for 4 Million
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Aug. 1, 2022 9:36 am ET

Electric-truck startup Nikola said it has agreed to buy battery-technology company Romeo Power in an all-stock deal that values Romeo at roughly $144 million.

Nikola said the deal would give it control over the battery-pack engineering and production processes, a critical bottleneck for electric-car makers. Romeo, which supplies batteries for Nikola’s vehicles, had earlier warned of its ability to stay afloat.

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