BorgWarner and Romeo Power in joint venture for battery production
By Jim Gibbins - 1st August 2019
USA – BorgWarner Inc of Auburn Hills, Michigan, and battery storage specialist, Romeo Power Technology of Vernon, California, have formed a joint venture to produce automotive batteries for light and high-performance electric vehicles. BorgWarner holds the majority in a 60/40 venture and has also acquired a 20% holding in Romeo Power together with two seats on the company's board.
Commenting on the new JV, Joel Wiegert, President and General Manager BorgWarner Morse Systems, said: “This joint venture will not only complement our strong existing propulsion portfolio, but we expect it to fill a gap in the marketplace between battery cell manufacturers and hybrid and electric vehicle customers. We believe our global engineering and manufacturing footprint enables us to quickly commercialise cutting-edge technology, delivering even more value to our customers.”
