RMG - Romeo Power bags $234M multi-year production contract with Lion Etelectric

Romeo Systems has secured a multi-year production contract with The Lion Electric Co., a leading OEM in North American electric commercial transportation.The contract is expected to generate $234M in revenue for Romeo Power over a five-year period beginning in FY2021. Lionel Selwood, Jr., Chief Executive Officer of Romeo Power said, “This contract demonstrates increasing customer demand for our products, reinforces our ability to turn our pipeline into contracted revenue, and further validates Romeo Power as the industry leader in battery pack and module technology.” Through its industry leading technology and energy dense battery packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer lasting batteries with shorter charge times.On October 5, Romeo Power and RMG Acquisition (RMG), a special purpose acquisition company, announced a business combination that would result in Romeo Power becoming a publicly listed company and will trade under the new ticker symbol “RMO".

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Romeo Power bags $234M multi-year production contract with Lion Etelectric