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. 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's Arvis Williams has been honored with induction into the 2021 Women in Manufacturing Hall of Fame, acknowledging her significant contributions to the manufacturing sector and advocacy for women. With over 30 years of experience, Williams leads 29 plants across 17 countries. Her leadership is celebrated for driving performance and promoting diversity. The recognition took place during WiM's 11th annual SUMMIT in Cleveland on October 6, 2021.
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BorgWarner has enhanced its collaboration with HYCET Transmission Technology by supplying a triple-clutch P2 drive module and hydraulic control unit for Great Wall's Haval and WEY brands. This partnership supports the first 9-speed P2 9HDCT hybrid transmission for HYCET's 'I-Era 2.0' powertrain, aimed at improving vehicle efficiency and performance. The innovative P2 module integrates up to three clutches and features a compact design for easy installation, meeting the growing demand for hybrid vehicles. Mass production of these vehicles is expected by January 2022.
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BorgWarner's leadership attended the grand opening of AKASOL's Gigafactory 1 in Darmstadt, Germany, on August 16, 2021. This factory, the largest in Europe for commercial vehicle battery systems, emphasizes BorgWarner's strategic move toward electrification. Following the acquisition of AKASOL in June 2021, BorgWarner holds an approximate 93% stake, aiming for full ownership by mid-2022. Through its Project Charging Forward, BorgWarner targets generating about 45% of revenue from electric vehicles by 2030, with AKASOL contributing significantly to this initiative.
BorgWarner has made a Series C equity investment in CelLink Corporation to enhance its electrification strategy. Announced on August 16, 2021, this investment supports BorgWarner's goal of achieving 45% of total sales from EV technology by 2030. CelLink specializes in flexible circuits that are ideal for automotive applications, improving efficiency in battery packs and vehicle wiring. BorgWarner's Chief Technology Officer stated this collaboration will strengthen their competitive edge in the evolving market.
BorgWarner has secured contracts to supply dual inverters for hybrid and plug-in hybrid vehicles from two leading Chinese OEMs, greatly enhancing its position in China's mobility market. The dual inverters will be employed in GWM's LEMON platform and by another major OEM in their HEV and PHEV models. This project marks a significant milestone for BorgWarner and GWM, showcasing advanced technologies that promise improved fuel efficiency and performance. Production is already underway for GWM's models, indicating a strong demand for electrification solutions in the region.
BorgWarner reported strong second-quarter results for 2021, with U.S. GAAP net sales of $3.76 billion, a 164% increase year-over-year. Adjusted net earnings per diluted share rose to $1.08, up significantly from a loss of $(0.14) in Q2 2020. The acquisition of Delphi Technologies and global market recovery contributed to this growth. The company projects full-year net sales between $15.2 billion and $15.6 billion, anticipating a year-over-year organic sales increase of 14% to 17%.
BorgWarner has partnered with ZEEKR, part of Geely Holding Group, to supply its High-voltage Coolant Heater (HVCH) for the ZEEKR 001 electric sedan. This technology enhances battery energy performance by maintaining optimal temperature, leading to improved driving range and passenger comfort. The HVCH is designed for high performance with a power range of 3 to 10 kW and is set to begin production in the second half of 2021, reinforcing BorgWarner's position in the growing EV market.