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. reports developments as a global automotive supplier serving original equipment manufacturers with turbo and thermal management technologies, drivetrain systems, powerdrive systems, and battery and charging systems. Company updates commonly cover OEM program awards for passenger cars, vans, commercial vehicles and off-highway applications, including variable turbine geometry turbochargers, exhaust gas recirculation coolers, controllers and battery management systems.
Recurring news also includes quarterly earnings, shareholder returns, sustainability recognition and BorgWarner's long-running Indianapolis 500 trophy programs. The company's disclosures reflect a supplier portfolio spanning combustion vehicle technologies and electrified mobility components across major automotive markets.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, payable on March 15, 2023, to stockholders of record by March 1, 2023. With over 130 years in the mobility sector, BorgWarner continues to innovate, focusing on eMobility to enhance sustainable transportation solutions. This dividend reflects the company's commitment to returning value to shareholders amid its ongoing transformation towards cleaner and safer future mobility.
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.