© Romeo Power Technology Business | May 07, 2019
BorgWarner, Romeo Power Technology form joint venture
BorgWarner and Romeo Power Technology have agreed to form a 60/40 joint venture, with BorgWarner obtaining the larger share.
The joint venture will encompass the mobility portion of the battery pack business, initially focused on performance and light vehicles. BorgWarner will also take a 20% equity position in Romeo Power and will fill two seats on its board. The equity investment and the joint venture are expected to close in the second quarter of 2019, subject to the satisfaction of customary closing conditions. In a press release issued this week, BorgWarner said that it believes bringing together BorgWarner's customer, product launch and quality excellence with Romeo's leading battery module and pack technology will meet a wide range of customers' battery-electric vehicle needs. The battery modules and packs are expected to include intelligent battery management systems with proprietary algorithms for enhanced performance and cycle life, as well as proprietary thermal engineering for active and passive cooling. The addition of battery packs will energize BorgWarner's existing product portfolio for hybrid and electric vehicles that includes electric motors, power electronics, high-voltage battery heaters, eAxle iDMs, onboard battery chargers and much more. BorgWarner Morse Systems President and GM Joel Wiegert 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 commercialize cutting-edge technology, delivering even more value to our customers." "This joint venture will help Romeo take a big step in the battery mobility sector by adding BorgWarner's scale and resources," said Michael Patterson, Romeo Power Technology founder and CEO. "Romeo has a fantastic team that has accomplished a lot in the last four years. And now we'll continue our progress, with the ability and resources to grow and accomplish our mission of advancing energy technology." BorgWarner has manufacturing and technical facilities in 68 locations in 19 countries, the company employs approximately 30,000 worldwide. The company is headquartered in Auburn Hills, Michigan. Romeo Power Technology designs advanced battery packs for e-mobility. The company was formed in 2015 in Santa Monica, California, with the stated vision of ending energy poverty.
Walsin restarts production at resistor plant in Malaysia The manufacturer was forced to temporarily shut down production at the plant in late November to facilitate coronavirus-related inspections.
Siltronic moves into new HQ in Munich As we entered December, the German wafer manufacturer moved to its new headquarters in the Bavaria Towers in Munich, Germany.
Infineon plans to make Singapore its global AI innovation hub The German chip-giant is celebrating its 50th anniversary in Singapore announcing plans to make the country its AI innovation hub as it moves forward with its digital transformation.
Transphorm choses Veeco system for GaN-based power and 5G devices Veeco Instruments says that Transphorm, a supplier of gallium nitride (GaN) products for high voltage power conversion applications, has selected its Propel HVM MOCVD System for high-volume production of GaN-based RF (DoD and Commercial/5G) and power electronics Epiwafers.
TTI denies Chinese military ties by its Hong Kong subsidiary The specialty distributor is denying that it’s Hong Kong subsidiary has any ties to Chinese military following the Bureau of Industry and Security (BIS) naming the Asian unit in a draft rule.
ECD Launches SelectiveRIDER™, Closes the Loop on Automated Soldering Solutions ECD announced the addition of SelectiveRIDER™ to its portfolio of soldering process measurement pallets, effectively closing the loop to deliver a complete line of automated verification technologies for every machine soldering process: wave, reflow and selective.
All That Glitters Is Not Gold! Application engineers often repeatedly answer the same questions from different customers, especially queries related to the selection of parts in their application. One mistake we see in part selection happening time and time again is that the customers become over enamored by what I like to call “the sheet” in data sheets.
Infineon extends franchise sales agreement with Future Electronics Future Electronics can now sell both the Infineon and the Cypress portfolios of products to customers across the Europe, Americas and Asia regions
Private equity firm acquires Evans Capacitor Company Arcline Investment Management has acquired the Rhode Island based manufacturer of high energy density capacitors.
Diodes completes its acquisition of Lite-On Semiconductor Diodes Incorporated has completed its close to USD 450 million acquisition of Lite-On Semiconductor (LSC).
Toshiba says it's not negotiating with UMC Toshiba Electronic Devices & Storage Corporation states that despite certain media reports, the company is not selling two of its fabs to Taiwanese United Microelectronics Corporation.
NVIDIA acquires Swedish VCSEL startup On the heels of the GPU-giant’s massive USD 40 billion acquisition of ARM – which was just made official back in September – comes yet another acquisition; though this time at a much smaller scale.
Analog Devices ends its fiscal year 2020 on a high Fourth quarter revenue came in at USD 1.53 billion, above the high-end of the company’s outlook.
GlobalWafers confirms takeover discussions with Siltronic The Taiwanese company says it is in advanced, near to final discussions on a takeover offer of German supplier of silicon wafers, Siltronic AG.
Covid-19 halts Chinese SK Hynix plant The discovery of an asymptomatic, but infected, employee brought SK Hynix’s plant in Chongqing, China to a halt on Sunday.
Murata to shut down Chinese production facility Saitama Murata Manufacturing, a subsidiary of Murata, will close its its coil production subsidiary Sheng Long TOKO Tech, located in Shenzhen, China, during December 2020
Antistat™ launch new product range of ESD Anti-fatigue matting Manufactured in the EU, Antistat’s new range of matting blends exceptional quality with durability offering a life span of up to 5 years.
Digi-Key inks new U.S. distribution partnership with MISCO Digi-Key Electronics has expanded its product portfolio to include a U.S. distribution partnership with MISCO, a resource offering complete audio solution services.
Arkema kickstarts capacity increase of fluoropolymer in China Arkema is starting up its 50% capacity increase of Kynar fluoropolymer for the lithium-ion battery business at its Changshu plant in China in December 2020, with the first commercial supplies for January 2021.
STMicro and YTO set up joint lab for smart agricultural equipment Semiconductor manufacturer STMicroelectronis, is teaming up with Chinese provider of agricultural and construction machinery YTO Group to establish a joint lab which will focus on R&D of electronic solutions for engine, vehicle, and agricultural controls in tractors.
12 new 1200V Hyperfast and Ultrafast Rectifiers from Vishay New Yorker Electronics has announced the availability of 12 new FRED Pt® Gen 5 1200 V Hyperfast and Ultrafast rectifiers from Vishay Semiconductor. The ideal choice for soft switched and resonant high frequency converters, it features a unique combination of low conduction and switching losses.
SKT's new AI chip changes the company's AI semiconductor business vision SK Telecom (SKT) has unveiled its new, self-developed, AI chip named SAPEON X220; a chip that, according to the company, will alter the company's AI semiconductor business vision.Load more news