Welcome to our dedicated page for Borgwarner news (Ticker: BWA), a resource for investors and traders seeking the latest updates and insights on Borgwarner stock.
BorgWarner Inc. (NYSE: BWA) is a motor vehicle parts manufacturer that regularly issues news on mobility technologies, electrification programs, financial performance, and corporate developments. Its press releases highlight contracts with global original equipment manufacturers, new product awards, and updates on its transition toward electrified and hybrid propulsion systems, alongside information on dividends and earnings.
Investors and industry followers can use this news feed to review announcements about BorgWarner’s battery systems for fully electric and autonomous shuttles, integrated drive modules for hybrid SUVs, dual inverters for hybrid and plug-in hybrid vehicles, electric motors for new energy vehicles, and high-voltage coolant heaters for plug-in hybrid platforms. The company also reports on all-wheel drive technologies, such as torque-on-demand transfer cases and Cross Wheel Drive systems, as well as turbocharger contracts for hybrid SUV engines and other combustion-related components.
Financial updates are another key element of BorgWarner’s news. The company publishes quarterly earnings releases, guidance ranges, and details on capital allocation, including share repurchases and quarterly cash dividends declared by its Board of Directors. Selected 8-K filings reference these releases and provide context on how the company presents adjusted operating margins, earnings per share, and non-comparable items.
In addition, BorgWarner’s news includes items related to legal settlements, spin-off-related matters, and its longstanding association with the Borg-Warner Trophy for the Indianapolis 500. Readers interested in BWA news can follow this page to review the company’s own descriptions of its contracts, technologies, financial results, and brand-related activities over time.
BorgWarner Inc. (NYSE: BWA) reported its 2022 Q4 and full-year results, highlighting a 12.4% increase in Q4 net sales to $4.1 billion and a full-year sales increase of 6.5% to $15.8 billion. The company anticipates electric vehicle sales to reach $1.5-$1.8 billion in 2023, up from $870 million in 2022. A planned tax-free spin-off of its Fuel Systems and Aftermarket segments aims to enhance focus on core opportunities. BorgWarner targets 25% reduction in absolute Scope 3 emissions by 2031, alongside significant strides in eMobility. 2023 guidance estimates net sales of $16.7-$17.5 billion.
BorgWarner has appointed Hau Thai-Tang to its Board of Directors as of February 8, 2023. Thai-Tang retired from Ford Motor Company in 2022, where he served as Chief Industrial Platform Officer. He led initiatives in research, advanced engineering, product development, and supply chain management, contributing to the launch of key models such as the Mustang Mach-E and F-150 Lightning. His extensive experience in electrification transformation is deemed valuable for BorgWarner's strategic goals. The company emphasizes its commitment to innovation and eMobility for a sustainable future.
BorgWarner presented Marcus Ericsson with his first Baby Borg trophy on February 2, 2023, at a ceremony in Palm Springs, California, following his victory at the 106th Indianapolis 500. This achievement made Ericsson the second Swedish driver to win this prestigious race, with his likeness now adorning the Borg-Warner Trophy. Additionally, Chip Ganassi received the Championship Team Owner's Trophy for the sixth time, commemorating his team's consistent success in Indy 500 history. BorgWarner continues its commitment to innovation in mobility, alongside a focus on eMobility, promoting a sustainable future.
BorgWarner Inc. (NYSE: BWA) will host a Q4 and Full Year 2022 Results Conference Call on February 9, 2023, at 9:30 AM EST. The session will be available live over the Internet, and a recording will be archived for those unable to attend. With over 130 years in the industry, BorgWarner focuses on driving innovation in mobility and has committed to advancing eMobility solutions for a sustainable future. For more details, visit the BorgWarner Investor Relations page.
BorgWarner has announced a commitment to reduce its absolute Scope 3 emissions by at least 25% by 2031 from a 2021 baseline. This target is part of its broader effort, including a previously announced goal of 85% reduction in Scope 1 and 2 emissions by 2030. The targets have been submitted for validation to the Science Based Target initiative (SBTi) and align with the company's Charging Forward strategy to achieve net-zero carbon emissions. BorgWarner aims to transition its product portfolio toward electrification and enhance sustainability across its supply chain.
BorgWarner has acquired Drivetek AG for an enterprise value of up to CHF 35 million, enhancing its specialty power electronics capabilities. The acquisition strengthens BorgWarner's High Voltage eFan business, with CHF 25 million paid at closing and CHF 10 million contingent on future performance. Drivetek, headquartered in Switzerland, specializes in inverters and power electronics across various sectors including automotive and aviation. This strategic move aims to accelerate growth in electrification and support BorgWarner's transition to eMobility.
BorgWarner has announced a strategic investment of $500 million in Wolfspeed to secure a capacity corridor for silicon carbide (SiC) devices, supporting its inverter growth plans. This agreement allows BorgWarner to purchase up to $650 million of SiC devices annually as demand rises. The partnership aims to accelerate technology development and innovation in electric vehicle solutions. BorgWarner aims for $4.5 billion in electric vehicle revenue by 2025, significantly up from under $350 million in 2021. This investment aligns with Wolfspeed's $6.5 billion capacity expansion plan.
BorgWarner Inc. (NYSE: BWA) declared a quarterly cash dividend of $0.17 per share on November 9, 2022. This dividend will be paid on December 15, 2022, to stockholders of record as of December 1, 2022. The company has been a leader in the mobility sector for over 130 years, focusing on innovative solutions for a sustainable future, particularly in eMobility.
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Marcus Ericsson's victory at the 106th Indianapolis 500 has earned him a permanent place on the Borg-Warner Trophy, becoming its 109th honoree. The unveiling ceremony took place in Indianapolis, marking Ericsson's first win and Chip Ganassi Racing's fifth Indy 500 triumph since 2000. He averaged 175.428 mph during the race and received $3.1 million in winnings. The trophy, a symbol of Indy 500 tradition, will also travel to Sweden to celebrate Ericsson. The detailed sculpting process for the trophy was elaborated by its creator, William Behrends.