Nikola Buys Battery Supplier Romeo Power to Secure Supply

Posted on by Electro Man Electric Buses, Electric Trucks, Events

Electric truck firm Nikola has made effective the acquisition of Romeo Power, the supplier of batteries for electric vehicles, after signing the ownership of 100% of its shares for an individual price of $ 0.74 per share. In total, this transaction has been carried out for a total economic amount of 144 million dollars by the North American company in order to guarantee the control and supply of these components for the coming years.

The collaboration agreement between the two companies has been underway for several years. Romeo Power has numerous patents for new technologies, something that is of high interest to Nikola mainly due to the need that this company has to obtain vehicles with high energy storage capacities, as well as important figures in terms of their autonomy.

The purpose of this decision by Nikola has come after studying the possibilities that would derive from this movement. The main reason is the vertical integration of the entire production process, which will mean a significant improvement in operational control, as well as a significant reduction in the cost per battery and the materials of which they are composed.

On the aforementioned cost savings, from Nikola they expect to reduce the price of battery packs between 30 and 40% by the end of next year 2023. This, in turn, will result in savings of up to $350 million by 2026, when production of electric trucks is expected to be fully established.

With this acquisition of 100% of the company specialized in the development and manufacture of batteries, Nikola expects a significant acceleration in the development of specific products for the company, with a substantial increase in the specifications of these components, with a greater electric autonomy, as well as improvements in the recharge rate, something that results in a better experience for the end customer.

This transaction is expected to be completed by the end of next October. Once this has been completely done, Romeo Power will be merged with the Nikola company itself. In addition, the battery specialist’s current headquarters in Cypress, California, will become Nikola’s Battery Center of Excellence. However, until this deal is completed (within two months) Nikola will provide Romeo Power with a total of $35 million of additional liquidity in the event that completion of the transaction is delayed for reasons beyond the control of both corporations.

Volkswagen CEO Announces In Which Year the Brand Will Only Sell 100% Electric Cars

Posted on by Electro Man Electric Buses, News, Opinion, Tests, Viral

That Volkswagen is very focused on its electric path is no secret, but until now the German manufacturer had not given an exact date for its definitive step to electric mobility in Europe; Electro-Mobil Blog & More gives you more details in this articles.

Volkswagen has in the ID range a bet on the future. Wolfsburg have put all their eggs in the same basket and there is no turning back. Although the change they propose will be gradual, the Germans already have a specific date to make the definitive leap to electric mobility. Thomas Schaefer, recently appointed chief operating officer of Volkswagen, has confirmed that in 2033 they will only sell electric cars in Europe, two years before the official margin proposed by the European Union itself.

The truth is that no one can be taken by surprise by such an announcement since the enormous effort that Volkswagen has been making in recent years was aimed at a single purpose. Since the Volkswagen ID.3 hit the market in 2020, the brand has been directing its gaze to a segment that is beginning to dominate. Electric vehicles such as the Volkswagen ID.4 are gaining more and more followers around the world, and in Europe it has become the most popular model in the family, although within a few years everything can change.

And it will do so because the range will grow. The ID family will expand and do so quickly. Schaefer himself has warned that there will be 10 new models on the market before 2026. The access model will be the expected Volkswagen ID.1, which we have already talked about repeatedly. It has always been said that it would be below the psychological barrier of 20,000 euros, but the new figure, inflation through, will be 25,000 euros. That will be the starting point of the most affordable electric model in the ranks of Volkswagen, a high cost if we take into account that we are talking about a B segment.

Obviously it will not be the only one to present itself since after its launch there will be the presentation of a crossover of such size, the Volkswagen ID.2. The goal is to rival models such as the Peugeot e-2008 or the Opel Mokka-e. In this case, no minimum sale price has been specified, although the most logical thing is to think of figures of around 28,000 euros. Many plans on the table and many planned launches, not only in the EV range, but also in the ICE models that will correspondingly adapt to electrified formats until their complete disappearance.

The IDs will take over the range, and like the thermal cars will undergo updates and renewals. The first to undergo a facelift will be the ID.3. The compact will live next year a first renovation that in the words of the director of operations: “will make a significant and remarkable leap in terms of quality, materials and stability of the system”. Points where the ID.3 has to improve significantly, although nothing has been mentioned about an increase in autonomy or performance indices.

The other big headline from Thomas Schaefer’s interview with Reuters indicates that Volkswagen will shift its production focus from concentrating on a single model per factory to a platform thinking. That means that the Volkswagen Group will focus production on platforms and not models. For example, the ID.4 and the Škoda Enyaq, twin models that are manufactured in two different plants. This is a cost issue with which it is intended to achieve a profit margin of 8 percent by 2025.