Tesla can\'t supply all the world\'s batteries. Here comes Romeo Power.

by:CTECHi     2020-03-26
Michael Patterson stretched out his right arm, bent it, bent it like he was shooting drugs.
\"They\'re all eating lithium!
He pretended to say with his thumb
The Pumpa syringe, which caused a lot of laughter from his executive.
What he said, \"they\" mean high-end buyers.
Technical batteries power electric vehicles and store power for utilities, businesses and homes. The fast-
A growing new market
According to research firm IDTechEx, the style battery operated by a chemical mixture based on lithium ion technology could be worth $140 billion by 2026.
Patterson\'s battery start-up, Romeo electric, can score quickly with just one battery.
Tesla has created a new and growing industry.
\"It\'s a tough environment, but there are a lot of opportunities for a startup that offers unique technology,\" said Sam Korus, investment manager Ark Invest . \".
Hundreds of young companies around the world want to join, but Romeo ball is a local --
An industrial zone on the southeastern border of Los Angeles on Vernon.
The company is on an adventure.
There are many risks in the future: technical, financial and environmental risks.
But not only for the power of Romeo, but for Los Angeles, the rewards can be huge. A.
They are trying to establish themselves as an important new
Technical Transportation.
The aim is to sell the company\'s battery pack to car manufacturers as they expand the size of electric vehicles
Strong ambition
Romeo is on a mission, Patterson said: \"create a fair competitive environment for others who are not Tesla.
\"All these automakers want to compete with Tesla because they are losing a lot of business,\" Patterson said . \".
At the high end --say the BMW 7-
Series-that\'s right.
With Tesla planning to launch Model 3, they may lose some medium term
Market business.
Most of the world\'s major automakers have announced ambitious plans to put electric vehicles on the market in the coming years.
Ford plans to launch 13 new electric plugs
Hybrid models by 2020.
Volkswagen said it will launch 30 new electric vehicles by 2025.
Romeo\'s staff are traitors from the brand.
Name companies including SpaceX, Tesla, Samsung and Amazon and Faraday Future-from cash source-
Recently, the troubled electric car company in Canada suffered a brain drain.
\"We have a lot of tribal knowledge about the battery business,\" Patterson said . \".
The main product of the company is the battery pack.
They look like anonymous black boxes, usually long and thin enough to fit under the floor of a car.
They store huge amounts of energy.
Each pack is equipped with hundreds or thousands of battery cores, each looking like an AA battery but a little big.
They release enough power to allow the motor to fire the car from 0 kilometers per hour to 60 miles in seconds --
Drive it hundreds of miles or more before charging.
Tying all of these unstable batteries together to achieve maximum power while avoiding catastrophic explosions is tricky.
Battery companies with the best and lowest cost are most likely to succeed.
Romeo Power believes that it can get at least 25% of the energy density than the existing lithium-ion battery pack and can do this safely.
All it has to do is prove it to the world.
Patterson sits in bright whiteon-
White conference room
White walls, white tables, white chairs
Starting from 120,000 square feet of warehouse space, it soon became a manufacturing factory.
Under Patterson\'s desk is chief technology officer, Potter Harris, who is the most important person for Romeo\'s technical success.
He is a hot shooter in the battery industry, developing power packs for the spacecraft at SpaceX at Elon Musk in Hawthorne, and has a number of advanced battery technology patents.
Between the SpaceX companies, Romeo, he made a big victory to decide the future directly.
Next to him is Eric Fleming, chief operating officer, who is wearing a sports coat and fashionable glasses.
He has handled procurement at Tesla, space exand Faraday.
Romeo believes he can run his supply chain.
Opposite Fleming is Dion isselhart, wearing fashionable glasses.
Brim cap, in charge of a separate line of business, planning strong marketing
Case for electronic equipment, portable charger.
Patterson, tan, trim and fit are explaining the business plan in court.
He has no direct connection to the battery, but he has successfully started a series of companies, the most recent one is InAuth, A $30 million venture capital-backed mobile security software provider was sold to American Express in December for undisclosed amounts.
Romeo started with niche clients.
The company said it received orders from a small commuter car manufacturer in Brazil, which is adding batteries
Its hydrogen fuel series is even a power bus from the forklift battery company, where lead-acid batteries will be replaced by a lithium-ion version.
Big car manufacturers will face more problems.
They have deep reserves for research and development.
But if Romeo Power proves that it can increase its energy density by 25%, it believes it can allow big companies to buy Romeo\'s battery pack.
For this reason, Patterson is expected to announce a deal with Detroit motor company soon.
Like most startups, Romeo\'s power is hidden in business secrets.
It is not clear how it plans to improve the performance of the battery pack.
\"People ask what your secret sauce is,\" Patterson said . \".
\"They have 400 people.
\"This is not impossible,\" Fleming interjected . \"
\"That\'s right,\" Harris said.
\"This is to find unique combinations and put them together.
Welding technology, materials, faults-
Tolerant circuit, cooling technology and so on.
The team moved from the conference room to the warehouse and passed through a group of Ikea bunk beds so that the workawayers didn\'t have to go home.
The concrete floor is mostly empty.
Robots and other equipment are on the way.
Set up a few tables in the place where the engineer manually assembled the battery, hoping for the last assembly
Minutes before full adjustment
Large-scale production.
Romeo employs 68 engineers and 10 managers and will add 150 more workers with modern manufacturing skills this summer.
The source of all this money is another secret.
Now the money comes from \"Me and a few friends,\" Patterson said \".
Whether or not they have a lot of cash to withdraw or their well is almost dry, they won\'t say it.
The company may seek the first round of venture capital financing.
In the coming months, Romeo\'s executive pedigree and ambition will prove whether it has the power to stay or whether it is a flash in the pan. russ.
Mitchell @ lattims
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