Romeo Systems Inc., a company that designs and manufactures lithium-ion battery modules and packs for commercial electric vehicles, has secured another large production contract with the Lion Electric Co., an OEM in North American electric commercial transportation.
The contract is expected to generate $234 million in revenue for Romeo Power over a five-year period beginning in 2021. The contract spans across Lion Electric’s fleet of all-electric Class 6-8 commercial urban trucks and all-electric buses.
“Romeo Power is very excited about this partnership with Lion Electric, which represents Romeo Power’s eighth production contract in North America and nearly doubles our contracted revenue to date,” says Lionel Selwood Jr., CEO of Romeo Power. “This contract demonstrates increasing customer demand for our products and reinforces our ability to turn our pipeline into contracted revenue.”
Through its proprietary technology and energy-dense battery packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer-lasting batteries with shorter charge times. The company has a 7 GWh-capable manufacturing facility in Los Angeles. Its core product offering is focused on the battery electric vehicle medium-duty short-haul and heavy-duty long-haul trucking markets.
