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Nikola and Romeo Power have entered into an agreement in which Nikola acquired Romeo in an all-stock transaction. This strategic move by Nikola will enable it to develop its own battery and battery management systems (BMS) engineering skills. Nikola anticipates that the acquisition will enable a considerable operational improvement and cost reduction in the manufacture of battery packs. Romeo’s contribution of technical expertise for batteries and BMS will also promote faster product development and better performance for Nikola customers. The control of the crucial battery pack engineering and production process will be secured through this acquisition.

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