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BorgWarner Forms JV with Battery Startup
BorgWarner Inc. and Romeo Systems Inc., a California-based battery startup, are forming a joint venture to supply integrated battery systems for electrified vehicles.
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BorgWarner Inc. and Romeo Systems Inc., a California-based battery startup, are forming a joint venture to supply integrated battery systems for electrified vehicles.
BorgWarner will own 60% of the unnamed venture, with Romeo holding the remaining 40%. As part of the deal, which is expected to close by the end of June, BorgWarner also will acquire a 20% stake in Romeo.
Initially, the partners plan to focus on lithium-ion battery applications for electrified performance and passenger vehicles. Their battery modules will feature “intelligent” management systems with proprietary algorithms for enhanced performance and cycle life, according to the companies. Advanced active and passive cooling technologies also are in the works.
Romeo was founded in 2015 by a group of former engineers from Tesla, SpaceX and Samsung. The company opened an automated 113,000-sq-ft production facility near Los Angeles in late 2017.
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