Borgwarner Inc - BWA STOCK NEWS

BorgWarner has secured a contract with a Chinese luxury new energy vehicle brand to supply its integrated drive module (iDM) featuring an 800V silicon carbide inverter and hairpin electric motor. This marks BorgWarner's first 800V iDM project, aimed at enhancing electric vehicle range and performance. The iDM220 will be manufactured using fully automated production and is set for production start in 2023. BorgWarner plans to increase electric vehicle revenues to approximately 45% by 2030 and aims for carbon neutrality by 2035.

BorgWarner has secured its first high-voltage (HV) eFan system contract with a major European Commercial Vehicle OEM, aimed at battery-powered long-haul vehicles. Production is set to begin in late 2024, reflecting the company's thermal management expertise and commitment to CO₂-neutral solutions in the automotive sector. The eFan system, optimized for efficiency and performance, will be essential for cooling components in electric trucks and is compatible with various high-voltage systems. This win underscores BorgWarner's leadership in thermal management technology amidst evolving emission regulations in Europe.

BorgWarner is partnering with a prominent Chinese OEM to provide its 800V silicon carbide (SiC) inverters for a new high-end battery electric vehicle (BEV) platform. This platform, aimed at mid- and high-end markets, will debut in Q1 2023. The inverters enhance power and performance, allowing the OEM to target the high-end BEV sector. BorgWarner’s robust supply chain management and experience in SiC applications are expected to facilitate agile development for the new models.

BorgWarner has secured its first hydrogen injection system production program for an off-road application, aiding in CO₂-free mobility. This system, awarded by a European construction equipment manufacturer, enhances energy efficiency and reduces refueling time, reflecting a favorable total cost of ownership. The company continues to advance in hydrogen technology for various vehicle segments, indicating a strategic shift towards cleaner propulsion options. BorgWarner aims to integrate complete solutions for hydrogen applications, leveraging its expertise in fuel injection systems.

BorgWarner Inc. (NYSE: BWA) has successfully completed its acquisition of AKASOL AG, enhancing its commercial vehicle and industrial electrification capabilities. This strategic move aims to capitalize on the growing battery systems market, with AKASOL contributing approximately $600 million in expected electric vehicle revenue by 2025. The merger aligns with BorgWarner's Project Charging Forward, targeting 45% of total revenue from electric vehicles by 2030. Former AKASOL CEO, Sven Schulz, will continue in a consulting role following the merge, which marks the final step to full ownership.

BorgWarner (NYSE: BWA) announced a deal to acquire Santroll Automotive Components for up to ¥1.4 billion, enhancing its electric vehicle (EV) capabilities. The acquisition includes a ¥1.1 billion initial payment and a potential ¥0.3 billion earnout. Santroll, based in Tianjin, China, specializes in eMotor technology for light vehicles, contributing valuable manufacturing expertise and established customer relationships. The deal aims to bolster BorgWarner's vertical integration and accelerate its market presence in EV solutions, with closing expected in late Q1 2022, pending customary conditions.

BorgWarner Inc. (NYSE: BWA) declared a quarterly cash dividend of $0.17 per share on February 9, 2022. The dividend will be paid on March 15, 2022 to stockholders of record as of March 1, 2022. As a leader in sustainable mobility solutions, BorgWarner operates in 96 locations across 22 countries and employs approximately 50,000 people globally. This dividend reflects the company's commitment to returning value to its shareholders while continuing to innovate in the vehicle market.

BorgWarner Inc. (NYSE: BWA) has announced a conference call to discuss its 2021 Fourth Quarter and Full Year results, scheduled for February 15, 2022, at 9:30 AM Eastern Time. The call will be available via live webcast, accessible through the company's investor relations website. For those unable to attend, an archive of the call will also be made available on the same site. BorgWarner, a leader in sustainable mobility solutions, operates in 96 locations across 22 countries and employs approximately 50,000 people globally.