Romeo Power Bags Lithium Battery Supply Contract From EV Manufacturer

Romeo Power Inc RMO has bagged a lithium-ion batteries supply contract from a U.S. manufacturer of Low-Speed Electric Vehicles (LSEVs). The financial terms were not disclosed.
Romeo will be the sole provider of batteries for the manufacturer's next-generation vehicle.
Romeo Power CEO Susan Brennan stated, "This partnership allows Romeo to fulfill our customer's need for versatile commercial battery products sourced in North America."
Romeo Power noted its lithium-ion battery solutions suit the fit, form, and function needed for the customer's vehicles while delivering high performance and superior safety properties.
Price Action: RMO shares are trading higher by 4.54% at $1.19 on the last check Friday.