Romeo Power completed the acquisition of the remaining 60% stake in its joint venture with BorgWarner for $29m.

Romeo Power, an energy technology company delivering advanced electrification solutions for complex commercial vehicle applications, completed the acquisition of the remaining 60% stake in its joint venture with BorgWarner, an American multinational automotive supplier, for $29m. Acquiring BorgWarner’s interest in the JV frees the company from restrictions that significantly limited the scope of its commercial activities, which now will enable the Company to commercialize its products for use in applications beyond specific classes of heavy-duty commercial vehicles and in geographies worldwide.