Mullen Automotive Boosts Battery Production with Romeo Power Acquisition
Mullen Automotive has acquired key assets from Romeo Power, bolstering its battery pack production. The purchase, valued at around $3.5 million, includes production lines, precision R&D equipment, and CNC machinery. These assets will be integrated into Mullen's existing high-voltage facility in Monrovia, California, enhancing its production capabilities.
The acquisition aligns with Mullen's plans to establish internal battery pack production, reducing reliance on third-party suppliers and mitigating supply chain risks. David Michery, CEO and chairman of Mullen Automotive, confirmed this, stating that the purchase is in line with the company's previous announcements. The assets, which include production facilities for electric car batteries, will be relocated to Mullen's manufacturing site in Monrovia, California.
The integration of Romeo Power's assets into Mullen's existing facility is expected to significantly enhance Mullen's battery pack production capabilities. This strategic move aims to secure Mullen's supply chain and support its growing demand for electric vehicle batteries.
Read also:
- Automotive Updates: Wolfspeed, NVIDIA, ABB, and Veritone in Spotlight
- Senate Tillis under spotlight in North Carolina as IRA tax incentives remain uncertain
- Demonstrating Carbon Storage in Agricultural Forestry through Digital Monitoring and Verification
- Interview Questions for Erica Tandori, an Artist, Intellectual, and Educator at Monash University
