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 Inc. (NYSE: BWA) will host an Investor Day on March 23, 2021, from 9:00 a.m. to 12:00 p.m. EDT, broadcast from its World Headquarters in Auburn Hills, Michigan. Senior leadership will present insights into the company's technologies and its strategic positioning in the electrification domain. The event aims to engage the investment community and showcase BorgWarner's advancements in clean and efficient technology solutions for vehicles. Additional details can be found on their IR website.
BorgWarner has announced a $1,025,000 donation to Kettering University, establishing the BorgWarner Scholars Program aimed at supporting scholarships for underrepresented students, particularly African American and Hispanic individuals, pursuing engineering. The initiative will provide nearly $40,000 annually in scholarships, focusing on those in financial need and offering co-op positions at BorgWarner for real-world experience. This commitment reflects BorgWarner's dedication to fostering diversity within the STEM workforce. The donation includes an additional $100,000 to broaden university initiatives for corporate sponsorships.
BorgWarner Inc. (NYSE:BWA) will host a virtual Investor Day on March 23, 2021, from 9:00 a.m. to 12:00 p.m. (EDT), broadcast from its headquarters in Auburn Hills, Michigan. The event will feature presentations by senior leadership, offering insights into the company's technologies and its strategic positioning in an electrified world. More details can be found on the investor relations website at borgwarner.com/investors.
BorgWarner celebrated Takuma Sato's induction as the 107th face on the Borg-Warner Trophy for his second Indianapolis 500 victory in 2020 during a ceremony at the Indianapolis Motor Speedway Museum. The trophy, commissioned in 1935, honors each winner with a life-like sculpture. Sato praised the artistic process that captures his personality in sterling silver. Despite the pandemic impacting the 104th Indy 500, Sato led 27 laps and averaged 157.824 mph. Later, he will receive a miniature replica trophy, and Rahal Letterman Lanigan Racing will also receive recognition for their contribution.
BorgWarner (NYSE: BWA) has signed a Business Combination Agreement with AKASOL AG (ETR: ASL) to enhance its commercial vehicle electrification capabilities. A wholly-owned subsidiary of BorgWarner will launch a public takeover offer at €120.00 per share for AKASOL, valuing the company at approximately €754 million, including €27 million in debt. Approximately 59% of AKASOL's shareholders have committed to accept the offer. The acquisition aims to strengthen BorgWarner's position in the growing electric commercial vehicle market, with the deal expected to close in late Q2 2021.
BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, set to be paid on March 15, 2021, to stockholders of record by March 1, 2021. This declaration reflects the company's commitment to returning value to its shareholders amidst its focus on clean and efficient technology solutions for vehicles. BorgWarner operates globally with around 50,000 employees across 96 locations in 24 countries.
BorgWarner reported strong fourth quarter 2020 results with U.S. GAAP net sales of $3,926 million, a 53.4% increase from Q4 2019. Adjusted net income per diluted share stood at $1.18, showing resilience despite a challenging year. Full-year sales were relatively flat at $10,165 million, affected by the pandemic and acquisitions. The company expects 2021 net sales between $14.7 billion and $15.3 billion, representing a 12% to 17% organic sales increase, with net earnings projected between $3.23 to $3.77 per share.
BorgWarner has announced the upcoming launch of its High Voltage Hairpin (HVH) 320 electric motor, designed for hybrid and electric commercial vehicles. Set for production in 2024, the HVH 320 features 800-volt capabilities and aims to fulfill the needs of a major European OEM. The motor boasts up to 97% peak efficiency and 400kW of power, supporting a common electric drivetrain. Additionally, it achieves a torque output of up to 1270 Nm and includes advanced features like regenerative braking. This innovation enhances BorgWarner’s portfolio in clean propulsion technologies.
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