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 a flat Q2 2022 with net sales of $3.76 billion and net earnings of $216 million, or $0.91 per diluted share. Adjusted earnings were $1.05 per share, slightly down from last year. The company anticipates electric vehicle revenue to reach approximately $850 million in 2022, doubling from 2021, and expects total sales between $15.5 to $16 billion for the year. Major developments include the acquisition of Rhombus Energy Solutions for $130 million and new high-voltage coolant heater programs for 2023 and 2024.
BorgWarner has acquired Rhombus Energy Solutions for an enterprise value of up to $185 million. The deal, primarily funded with cash, enhances BorgWarner's charging business by expanding its North American presence and complementing its existing European operations. Rhombus specializes in vehicle-to-grid (V2G) technology and will aid BorgWarner's Charging Forward strategy, positioning it to innovate in electric mobility infrastructure. Approximately $130 million was paid at closing, with potential contingent payments of $55 million over three years.
BorgWarner Inc. (NYSE: BWA) declared a $0.17 quarterly cash dividend on July 28, 2022. This dividend will be payable on September 15, 2022, to stockholders of record as of September 1, 2022. With over 130 years of innovation in mobility, BorgWarner aims to accelerate the transition to eMobility, contributing to a cleaner and safer future.
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On May 31, 2022, Marcus Ericsson claimed victory at the Indy 500, marking his first win at this prestigious event in his fourth attempt. Driving for Chip Ganassi Racing, he led 13 laps and averaged 175.428 mph, earning $3.1 million in front of 250,000 fans. Ericsson's win adds him to the exclusive group of Indy 500 champions, and he will have his likeness sculpted onto the iconic Borg-Warner Trophy. BorgWarner has been a significant player in the event since 2012, supplying high-performance EFR™ turbochargers featured on all participating cars.
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BorgWarner has increased the Indianapolis 500 Rolling Jackpot to $400,000, marking a significant prize for driver Helio Castroneves, who seeks back-to-back victories. This is the third opportunity for Castroneves to capture the jackpot, having won it once before in 2002 when it was $160,000. BorgWarner has added $20,000 annually to the prize since its inception in 1995. A win would not only secure the jackpot for Castroneves but also solidify his legacy in the race, as he aims for a record-setting fifth victory.
BorgWarner has announced a partnership to supply a leading Chinese OEM with its dual inverter unit for a new hybrid vehicle model, launching in Q2 2023. The dual inverter technology enhances efficiency, reduces costs and weight, and offers flexible installation. This technology combines multiple functionalities into one unit, providing significant fuel economy benefits. The collaboration reinforces BorgWarner's leadership in the dedicated hybrid transmission market, aiming to set a benchmark for dynamic driving performance in China.
BorgWarner has been chosen to supply high-voltage hairpin eMotors for a leading Chinese electric vehicle brand's 800V propulsion system platform. This partnership is expected to bolster BorgWarner's position in the electric propulsion market. The eMotors, featuring over 96% efficiency, higher power and torque density, will begin mass production in October 2023. With a recent acquisition of Santroll Automotive Components, BorgWarner is poised to enhance its capabilities and speed to market in light vehicle e-motors.