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 presented the Championship Driver's Trophy (Baby Borg) to Josef Newgarden for his 2024 Indianapolis 500 victory at the Henry Ford Museum of American Innovation. This marks Newgarden's second Baby Borg trophy, while Team Penske owner Roger Penske received his 20th Championship Team Owner's Trophy.
The Baby Borg, a 20-inch miniature version of the Borg-Warner Trophy, features Newgarden's name, team name, average speed, and sterling silver likeness. Newgarden's win makes him the sixth driver in history to achieve back-to-back Indy 500 victories. He will attempt to make history in 2025 by pursuing a third consecutive win.
Penske's 20 victories as team owner span six decades, starting in 1972, with 14 different winning drivers. The original Borg-Warner Trophy, commissioned in 1936, now features 111 faces of Indy 500 winners, with Newgarden's likeness being added in December 2024.
BorgWarner has been named to Forbes' America's Best Employers for Engineers 2025 list, as announced on November 20th, 2024. The recognition, presented in collaboration with Statista, was based on an independent survey of over 28,000 U.S. employees across various industry sectors.
The evaluation process included both personal feedback from employees and public opinions from industry professionals and family members. Chief Human Resources Officer Tania Wingfield emphasized the company's commitment to fostering innovation and investing in employee development through programs like Power To Evolve and leadership training initiatives.
This recognition highlights BorgWarner's dedication to maintaining a workplace culture that values employee satisfaction, career growth, and competitive compensation for engineering professionals.
BorgWarner announces leadership transition as Joseph Fadool, current EVP and COO, will succeed Frédéric Lissalde as President and CEO effective February 6, 2025. Lissalde will retire after 25 years with the company and remain in an advisory role until August 30, 2025. Fadool, a 14-year veteran of the company who has led four business units, brings extensive industry experience and operational expertise. The succession plan reflects the company's commitment to maintaining its leadership in electrified vehicle technology and market-leading product portfolio.
BorgWarner (NYSE: BWA) has announced its quarterly dividend declaration. The company's Board of Directors declared a quarterly cash dividend of $0.11 per share of common stock on November 6, 2024. The dividend will be paid on December 16, 2024, to stockholders of record as of December 2, 2024. BorgWarner, a global product leader in mobility innovation for over 130 years, continues its commitment to advancing eMobility solutions for a sustainable future.
BorgWarner has secured extensions on two transfer case contracts with a major North American OEM for upcoming vehicle launches. The company will supply Electro-Mechanical On-Demand (EMOD) and Electric Shift-on-the-Fly (ESOF) transfer cases for combustion and hybrid passenger truck platforms. Production is scheduled to begin in 2027 for two platforms and 2028 for the third. The EMOD offers faster response and improved torque accuracy, while the ESOF is designed for rugged part-time four-wheel drive systems. Both transfer cases feature BorgWarner's HY-VO® driveline chain and will be manufactured in Seneca, South Carolina.
BorgWarner has secured three major High Voltage Coolant Heater (HVCH) contracts in Asia. A Chinese OEM selected HVCH for an electric SUV with production starting Q2 2025, while a Korean manufacturer chose it for an electric pickup starting Q1 2025. Additionally, BorgWarner won its first HVCH contract with a Japanese OEM, with production beginning in 2028. The HVCH technology features a compact, modular design with Thick Film Element technology, offering power ranges from 3 to 10 kW and voltage compatibility from 250 to 800 volts. The system enhances battery performance, enables rapid cabin heating, and improves driving range efficiency.
BorgWarner (NYSE: BWA) reported Q3 2024 results with net sales of $3,449 million, down 5% year-over-year. The company achieved an adjusted operating margin of 10.1% and generated $356 million in operating cash flow. Despite a 5.6% decline in vehicle markets, earnings per share reached $1.08. BorgWarner increased its full-year adjusted operating margin guidance by 20 basis points and adjusted EPS guidance by 4%. The company completed a $400 million share repurchase program in 2024, with $300 million executed in Q3. Notable new business wins include transfer case awards and high-voltage coolant heater contracts.
BorgWarner has been recognized on Forbes' World's Top Companies for Women 2024 list, a prestigious award presented in collaboration with Statista. The selection process involved surveys of approximately 100,000 women across 37 countries, collecting over 750,000 data points. The evaluation was based on three key metrics: an Employer Brand Score measuring gender-related performance and workplace satisfaction, a Public Opinion Score assessing women's perception of gender equality, and a Leadership Score examining objective criteria like female CEO presence and women's representation in leadership positions.
BorgWarner Inc. (NYSE: BWA) has announced the full redemption of its 5.000% Senior Notes due 2025. The redemption will take place on November 1, 2024, and involves the entire outstanding $343,443,000 aggregate principal amount. The redemption price includes 100% of the principal amount plus the Applicable Premium and accrued and unpaid interest up to the Redemption Date.
The redemption is in accordance with the terms of the Indenture dated September 23, 1999, as supplemented by the Seventh Supplemental Indenture dated October 5, 2020. Deutsche Bank Trust Company Americas is acting as the indenture trustee and paying agent for this transaction. BorgWarner has confirmed that all necessary approvals for this redemption have been obtained.
BorgWarner has secured an agreement to provide twin turbochargers for the General Motors Corvette ZR1, marking the largest passenger car twin turbochargers in the market. These turbochargers will power the Corvette's 5.5-liter flat plane crankshaft V8 engine, enabling it to produce 1,064 horsepower and 828 pound-feet of torque.
The turbochargers feature a 76mm forged milled compressor wheel with ported shroud and a 67mm turbine wheel inside a mono scroll turbine housing. They incorporate BorgWarner's patented decoupled ball bearing system, offering faster response time, higher durability, and noise. Additional features include a compressor-mounted blade pass speed sensor, zero-clearance heat shielding, and an electronically actuated wastegate system.
Designed and manufactured in the United States, these turbochargers are a result of BorgWarner's extensive work with the NTT INDYCAR SERIES and their ability to provide high-performance solutions.