Romeo Power Completes Acquisition of BorgWarner Joint Venture Interest
February 7, 2022
Romeo Power, Inc. completed the previously announced acquisition of BorgWarner’s interest in the joint venture between the two companies for $28.6 million in cash. The deal gives Romeo Power full control of the JV assets and intellectual property, removing commercial restrictions and enabling broader commercialization and expansion into new vehicle classes and geographies.
- Buyers
- Romeo Power, Inc.
- Targets
- BorgWarner joint venture interest
- Sellers
- BorgWarner Inc.
- Industry
- Energy
- Location
- California, United States
- Transaction Type
- Buyout
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