#6 - Romeo Power (NYSE:RMO)
In addition to being a year when many electric vehicle stocks went public, 2020 will also be known as the year when battery technology took center stage. That’s where Romeo Power (NYSE:RMO) comes in. Romeo Power is creating a battery that checks two of the most important boxes when it comes to EV batteries.
First, the batteries will have 25% higher energy density allowing vehicles to go further on a single charge. The lithium-ion battery will also be able to operate at optimal temperature even in areas that are subject to extreme climates. This is a key to making batteries a practical option throughout the country.
The company is only targeting the commercial sector for now, specifically Class 1 to Class 8 commercial trucks. But this is a key sector. Although fleet operators scaled back on their EV initiatives during the pandemic, they are planning to accelerate their plans as a way of managing their fleet costs.
About Romeo Power
Romeo Power, Inc, an energy storage technology company, designs and manufactures lithium-ion battery modules and packs for vehicle electrification in North America. The company designs and manufactures battery modules, battery packs, and battery management system technologies; and provides non-recurring engineering services, such as design, prototype, and testing services.
More about Romeo Power- Current Price
- $0.35
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
