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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share on April 26, 2023. This dividend is set to be paid on June 15, 2023, to stockholders of record by June 1, 2023. With over 130 years in the market, BorgWarner continues to lead in mobility innovation, now focusing on accelerating the transition to eMobility for a sustainable future. This dividend represents a commitment to providing returns for investors while fostering advancements in clean technology.
BorgWarner's Engineering Director, Carol Cai, received the 2023 Women MAKE Award for her significant contributions to the manufacturing industry. This award honors women in STEM careers who demonstrate outstanding leadership. Cai is the seventh consecutive awardee from BorgWarner, recognized at a gala on April 20 in Washington, D.C.. Having joined the company as a simulation supervisor, Cai now oversees over 90 engineers in China and has established a turbo R&D team. She actively mentors young female engineers, participates in talent recruitment initiatives, and contributes to programs supporting new graduates. The Manufacturing Institute awarded her among 130 women leaders, highlighting the importance of female empowerment in engineering.
BorgWarner plans to invest $42 million to expand its Seneca, South Carolina facility, which will enhance its battery module and pack production capabilities. This investment is expected to create 122 new jobs over three years, spanning various roles including production and engineering. The expansion aims to achieve an additional 3GWh of annual production capacity, contributing significantly to the company's U.S. operations. Supported by the State of South Carolina and Oconee County, the facility's expansion will commence in the second quarter of 2023 and is projected for completion in the first half of 2024.
BorgWarner has announced a significant investment of $20 million to enhance its manufacturing capabilities across three facilities in Michigan and to develop a new electric vehicle (EV) battery service center. This initiative aims to accelerate the development and testing of EV products and boost domestic manufacturing capabilities. The project is expected to create approximately 186 jobs in engineering, manufacturing, and service sectors. Additionally, BorgWarner received a grant of $1.86 million from the Michigan Economic Development Corporation to support its electrification goals. The investment will involve expanding facilities in Auburn Hills, Dearborn, and Hazel Park, with Hazel Park receiving the largest portion of the investment for a new battery service center.