Romeo Power Inc. (NYSE: RMO) said it has relocated its manufacturing operations to a 215,000-square-foot center in Cypress.
The battery maker for electric vehicles is in its final phase of relocating to Cypress from Vernon.
The move will allow the company to accommodate its “growth trajectory, leverage the diverse Orange County tech talent pool and enhance the quality and cost-effectiveness” of its products, company officials said.
The new facility provides “a critical foundation as we enhance our products and technology, as well as scale to meet the needs of current and prospective customers. This is especially critical for Romeo as we focus on growing our existing customer base in commercial fleets, while targeting new customers in the Industrial/Off-Highway and Marine markets,” Romeo Power CEO Susan Brennan said in a statement.
Shares were up 5.6% today to 60 cents a share and a $90 million market cap.