In a bid to liquidate assets from Romeo Power’s EV battery assembly and testing facility in Cypress, California, Tiger Group is conducting an online auction on July 13. The auction will feature thousands of lithium-ion battery cells, industrial assets like robots and CNC machines, and assembly and testing equipment.
Romeo Power utilized the plant to assemble lithium-ion batteries for electric motorcycles, golf carts, side-by-side ATVs, and commercial truck tractors. However, as the company’s owner and primary customer, Nikola Corp., seeks to localize its supply chain, the battery manufacturing operations are being shifted to facilities in Coolidge, Arizona. This move has prompted the closure of the Cypress plant.
The online auction offers a lucrative opportunity for industrial manufacturers, EV battery assemblers, automotive companies, and other buyers. The inventory available for bidding includes over 200,000 Samsung lithium-ion battery cells, valued at approximately $16 million. These cells are ready for immediate use.
In addition to the battery cells, the auction highlights a range of industrial equipment such as three 2019 Haas VF6 vertical milling machines, a coordinate measuring machine, a high-speed CNC machine, various saws, welders, and tools. Multiple Fanuc robots and related systems are also up for sale.
Furthermore, the auction includes engineering and testing systems like chambers, drop testers, and ovens, used to subject batteries and electronic devices to extreme conditions. Other assets available for bidding include hardware, wiring harnesses, enclosures, office furniture, a box truck, compressors, and more.
Frequently Asked Questions (FAQs):
1. Who can participate in the online auction?
– Industrial manufacturers, EV battery assemblers, automotive companies, and other buyers can participate in the auction.
2. What is the timeline for the online auction?
– The auction opens for bidding on July 6 and closes on July 13 at 10 a.m. (PT).
3. Can the lithium-ion battery cells be used immediately?
– Yes, the Samsung lithium-ion battery cells are ready for immediate use.
4. Are on-site inspections available?
– Yes, on-site inspections can be arranged by appointment on July 12 from 10 a.m. to 4 p.m. (PT).
5. How can interested buyers obtain more information?
– For inspections or further information, interested buyers can email [email protected] or call (805) 497-4999.
