Borgwarner Inc Stock Price, News & Analysis

BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, effective December 15, 2021, for stockholders of record on December 1, 2021. The company, a leader in sustainable mobility solutions, operates in 96 locations across 22 countries with approximately 50,000 employees. This dividend declaration reflects the company's commitment to returning value to shareholders while reinforcing its position in the global automotive market.

BorgWarner has appointed Sara A. Greenstein to its Board of Directors, effective November 9, 2021. Greenstein brings extensive leadership experience, having previously served as President and CEO of Lydall, Inc. and as a Senior Vice President at United States Steel Corporation, managing a $4 billion business unit. Her educational background includes a Bachelor of Science in Business Administration from the University of Illinois and an MBA from the University of Michigan. This addition is expected to strengthen the board with her skills in the production and manufacturing sectors.

BorgWarner's Julie Adkins has received the 2021 Women in Manufacturing STEP Ahead Award, recognizing her leadership in the manufacturing sector. Adkins, who began her career at BorgWarner in 2011, is the fifth consecutive BorgWarner employee to earn this honor. Her contributions include developing a high-performing Program Management Team and streamlining processes within the company. The award emphasizes the role of women in manufacturing, especially post-pandemic, and was presented on November 4, 2021, at the National Building Museum in Washington, D.C.

BorgWarner has secured a significant contract with a major OEM to deliver high voltage silicon carbide (SiC) inverters for battery electric vehicles (BEVs). This marks the company's largest SiC inverter win and the first in North America. The inverters, developed from the Viper family of scalable power modules, offer advantages such as low mass, high efficiency, and scalability. Production is expected to commence in 2024. This win reinforces BorgWarner's commitment to the electric vehicle market and strengthens its longstanding customer relationship.

BorgWarner has secured a contract to supply a cutting-edge, high-voltage silicon carbide (SiC) inverter to a major German automaker for their upcoming electric vehicles. The 800V SiC inverter enhances power density and efficiency, resulting in a significantly improved electric vehicle range and driving performance. This technology is part of BorgWarner's Charging Forward initiative, which aims to boost electric vehicle revenue to approximately 45% by 2030 and achieve carbon neutrality by 2035.

BorgWarner announced that its 400V Silicon Carbide (SiC) inverter has been chosen to power several battery electric vehicles for a European OEM. This inverter features dual-sided cooled power switches, leading to enhanced vehicle performance and range. Production is set to begin in 2023. The SiC inverter offers a lightweight design, reduced costs, and a 70% reduction in switching losses compared to traditional silicon-based inverters. This aligns with BorgWarner's electrification strategy, targeting 45% of revenue from electric vehicles by 2030 and achieving carbon neutrality by 2035.

BorgWarner Inc. (NYSE: BWA) will host its 2021 Third Quarter Results Conference Call on November 3, 2021, at 9:30 am Eastern Time. The event will be available as a live webcast, accessible via the company’s investor site. A recorded version of the call will also be available for those unable to attend live. BorgWarner operates globally with approximately 50,000 employees and 96 manufacturing and technical facilities across 23 countries, focusing on innovative mobility solutions.

BorgWarner has secured a partnership with a German OEM to supply its HVH250 electric motors for a new heavy-duty truck model. Each truck will feature two HVH motors per axle, delivering peak power of 175 kW and 425 Nm of torque. The HVH250 motor boasts over 95% efficiency and has been in production for over 10 years. This move reinforces BorgWarner's leadership in commercial vehicle electrification.

Additionally, the company offers various electric vehicle technologies, including drive modules and battery packs, further solidifying its commitment to sustainable mobility solutions.