Romeo Power Secures Initial Phase of Collaboration With Indigo Technologies
March 01 2022 - 8:30AM
Business Wire
New partner showcases commitment to advance
Romeo’s products and solutions to new and diverse markets
Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO),
an energy technology leader delivering advanced electrification
solutions for complex commercial vehicle applications, today
announced it has been awarded the first phase of a multi-phase
commercial program with Indigo Technologies (“Indigo”), an
automotive OEM specializing in lightweight electric vehicles for
rideshare and delivery driving targeting the lowest cost per
mile.
Recent evolution of the last-mile delivery and on-demand
passenger vehicle sector has created a need for energy- and
space-efficient vehicles that optimize constant reloading of cargo
and passengers. Indigo will launch its full size, FLOW show car
later this year at the Los Angeles Auto Show. The FLOW PLUS
full-size show car will launch with different prototype testing
versions in 2023.
“Indigo’s selection of Romeo Power showcases the joint efforts
of two nimble companies that strongly believe in the advancement of
this emerging market. Romeo is pleased to partner with Indigo and
further demonstrate its innovative vehicles for the rideshare and
delivery market,” states Lauren Webb, Romeo’s Chief Strategy and
Commercial Officer.
“We are pleased to announce our OEM technology collaboration
with Romeo Power,” stated Greg Tarr, Indigo’s Chief Strategy
Officer. “We have a great, technical collaboration with Romeo’s
leadership team to develop our lightweight commercial vehicles in
conjunction with Romeo’s advanced battery technology. Romeo’s
battery technology is designed for a diverse and wide ranging set
of vehicles, including on-road, off-road, marine, and stationary
applications. Romeo’s superior Battery Management System (BMS) will
be strategically important to customers, advancing Indigo’s efforts
to separate itself from other purpose-built vehicles. We look
forward to a valuable future of serving our mutual customer base
and pioneering in the lightweight, commercial EVs sector.”
Romeo and Indigo will be exhibiting at the ACT Expo in Long
Beach, California on May 9-12, 2022 and would welcome the
opportunity to discuss this innovative collaboration with
attendees, media, and investors.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Los Angeles, California,
Romeo Power (NYSE: RMO) is an energy technology leader delivering
advanced electrification solutions for complex commercial vehicle
applications. The Company’s suite of advanced battery electric
products, combined with its innovative battery management system,
delivers the safety, performance, reliability and configurability
its customers need to succeed. To keep up with everything Romeo
Power, please follow the Company on social @romeopowerinc or visit
www.romeopower.com.
About Indigo Technologies, Inc.
Indigo is delivering an entirely new class of smooth riding and
roomy electric vehicles that are highly efficient and affordable
for fleets and drivers. Indigo EVs have the lowest cost-per-mile
and carbon footprint for its class due to its patented robotic
wheels that provide superior comfort and handling while maximizing
usable cabin space for compact urban rideshare and delivery.
Forward Looking Statements
Certain statements in this press release may constitute “forward
looking statements” within the meaning of the “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
“estimates,” “projected,” “expects,” “anticipates,” “forecasts,”
“plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,”
“future,” “propose” and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. These
forward-looking statements, including, without limitation, express
or implied statements concerning Romeo Power’s ability to develop
or sell new products, or to pursue customers in new product or
geographic markets, Romeo Power’s expectations regarding its future
financial performance, the demand for safe, effective, affordable
and sustainable EV products, Romeo Power’s ability to produce and
deliver such products on a commercial scale, and Romeo Power’s
expectations that its customers will adhere to contracted purchase
commitments on the currently expected timeframe are not guarantees
of future performance, conditions or results, and involve a number
of known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside Romeo Power’s
management’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include: Romeo Power’s ability to execute on
its plans to develop and market new products and the timing of
these development programs; Romeo Power’s ability to increase the
scale and capacity of its manufacturing processes; Romeo Power’s
estimates of the size of the markets for its products; the rate and
degree of market acceptance of Romeo Power’s products; the success
of other competing technologies that may become available; Romeo
Power’s ability to identify and integrate acquisitions; Romeo
Power’s potential need for and ability to secure additional
capital; the performance of Romeo Power’s products and customers;
potential litigation involving Romeo Power; demand for battery
cells and supply shortages; the potential effects of COVID-19; and
general economic and market conditions impacting demand for Romeo
Power’s products. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
Company’s filings with the SEC. If any of these risks materialize
or our assumptions prove incorrect, actual results could differ
materially from those implied by our forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Romeo Power undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220301005513/en/
Romeo Power Investors: Joe Caminiti or Ashley Gruenberg
Alpha IR Group RMO@alpha-ir.com 312-445-2870
Indigo Technolgies Media Contact:
press@indigotech.com
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