What’s Happening

Tiger Group is hosting an online auction on July 13, featuring a vast range of lithium-ion battery cells and industrial assets. The assets come from Romeo Power’s 215,000-square-foot EV battery assembly and testing plant in Cypress, California, now closed. Items up for bid include an impressive selection of industrial machinery, and over 200,000 Samsung lithium-ion battery cells, representing an estimated $16 million in inventory.

Why It Matters

This auction is a significant opportunity for businesses in the industrial manufacturing sector, EV battery assemblers, and automotive companies to acquire a variety of late-model industrial equipment and lithium-ion battery cells. The closure of Romeo Power’s Cypress facility, largely due to Nikola Corp. centralizing its supply chain, puts a multitude of assets on the market, giving businesses a rare chance to acquire high-quality equipment and parts.

Key Points

The July 13 online auction, hosted by Tiger Group, features an extensive selection of assets from the Romeo Power’s now-closed facility. Some of the assets up for bid include industrial robots, CNC machines, assembly and testing equipment, and Samsung lithium-ion battery cells. The assets are valued at approximately $16 million, a substantial part of which is made up of over 200,000 Samsung lithium-ion battery cells, ready for immediate use.

In addition, several 2019 Haas VF6 vertical milling machines, high-speed CNC machines, vertical milling machines, lathes, drill presses, hydraulic presses, and various tools are among the equipment up for sale. Other items available at the auction include Fanuc robots, engineering, and testing systems, and a host of additional assets, including hardware, wiring harnesses, and office equipment.

Bottom Line

This online auction, powered by Tiger Group, offers an invaluable opportunity for companies in need of high-quality industrial assets and lithium-ion battery cells. As companies continue to evolve in response to the ongoing energy transition and decarbonization, such auctions are becoming increasingly crucial. Businesses seeking to strengthen their operational capacity and streamline production processes may find this auction particularly beneficial. Interested parties can arrange on-site inspections by appointment on Wednesday, July 12. For more details, contact Tiger Group at auctions@tigergroup.com or call (805) 497-4999.