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 (NYSE: BWA) will host a 2023 First Quarter Results Conference Call on May 4, 2023, at 9:30 AM Eastern Time. The call will be accessible via a live webcast on the company's investor relations website. For those unable to join live, the session will be archived for later access. BorgWarner, a leader in mobility innovation for over 130 years, focuses on enhancing eMobility to promote a cleaner and safer future. Additional information can be found by visiting borgwarner.com.
BorgWarner's CEO, Frédéric Lissalde, was awarded the prestigious Nessim Habif Prize for his contributions to the automotive industry. The ceremony took place in Paris on March 6, 2023, organized by the Ingénieurs Arts et Métiers community. Lissalde, who expressed his gratitude for the recognition, highlighted the importance of striving for excellence. This annual award has recognized over 35 influential figures since its inception in 1962. BorgWarner continues to be a leader in mobility innovation and is focused on advancing eMobility for a sustainable future.
BorgWarner Inc. (NYSE: BWA) has successfully acquired Hubei Surpass Sun Electric's (SSE's) Electric Vehicle Charging Solution, Smart Grid, and Smart Energy businesses. This acquisition is pivotal for BorgWarner, enhancing its electrification capabilities in Asia while strengthening its existing charging infrastructure in Europe and North America. The company views SSE as a strategic fit, aligning with the industry's shift towards electrification. This move is expected to contribute positively to BorgWarner's market position and charging expertise.
BorgWarner Inc. (NYSE: BWA) has announced Brady Ericson as the President and CEO and Chris Gropp as Executive VP and CFO of PHINIA Inc., the new publicly traded entity resulting from the spin-off of its Fuel Systems and Aftermarket segments. This separation is part of the company’s strategy to enhance operational focus and flexibility. The spin-off is anticipated to complete in late 2023 and aims to maintain BorgWarner's legacy while fostering product leadership. Both executives bring extensive experience within the company, with Ericson leading Fuel Systems since March 2022 and Gropp serving in various financial roles since 2001.
BorgWarner has announced an expansion of its inverter business, transitioning from 400V to 800V silicon carbide (SiC) inverters for battery electric vehicles (BEVs). The new inverters, with 250kW and 350kW options, are set for production starting in 2025, aiming for an annual volume of nearly 400,000 units. This strategic move reinforces BorgWarner's position as a key supplier for a major global automaker and enhances its scalability and efficiency in BEV platforms.
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 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.