Why Romeo Power Stock Spiked 60% Today Romeo Power Inc (NYSE: RMO ), the electric vehicle battery maker which went public recently via a special purpose acquisition company, saw its shares close 59.60% higher on Tuesday. What Happened: The California-based company has signed a long-term contract with medium- and heavy-duty truck maker Paccar Inc (NASDAQ: PCAR ) to supply battery packs, modules, and battery management systems for its upcoming electric vehicles. According to the deal, Romeo Power will supply batteries for Paccar-owned Peterbilt 579 and 520 battery electric vehicles in the United States and Canada through 2025. The production is expected to begin after 2021. Founded in 2016, Romeo Power has engineers from Tesla Inc … Full story available on Benzinga.com