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BorgWarner Inc. (NYSE: BWA) is a global leader in innovative powertrain solutions aimed at improving fuel efficiency, reducing emissions, and enhancing performance for engines, transmissions, and driveline systems. With a commitment to creating a cleaner and more energy-efficient world, BorgWarner's product portfolio includes advanced technologies for both traditional and electric vehicles. The company operates through three key segments:
- Air Management: This division produces turbochargers, e-boosters, e-turbos, timing systems, emission systems, thermal systems, gasoline ignition technology, powertrain sensors, and cabin heaters.
- Drivetrain and Battery Systems: It includes automatic transmission components, torque management products, battery heaters, battery charging, and battery modules.
- e-Propulsion: Focused on e-motors, power electronics, and software and control modules.
Recent achievements for BorgWarner include securing a contract with a major Chinese OEM to supply its dual inverter with boost function for hybrid vehicles and starting eMotor rotor and stator production for XPeng Motors. The company also extended its contract to supply high voltage coolant heaters (HVCH) to a major global OEM for their battery-electric light-vehicle platforms.
Financially, BorgWarner reported net sales of $3,595 million for the first quarter of 2024, a 6% increase compared to the previous year. Net earnings were $213 million or $0.93 per diluted share. The company expects its 2024 net sales to be in the range of $14.4 billion to $14.9 billion with an operating margin of 8.2% to 8.5%.
Major customers include Ford and Volkswagen, contributing 14% and 11% of the 2023 revenue, respectively. Geographically, the revenue distribution for 2023 was 36% from Europe, 34% from Asia, and 29% from North America.
With over 130 years of experience, BorgWarner continues to be a transformative force in the automotive industry, driving the transition to eMobility and supporting environmentally friendly technologies. The company's forward-looking initiatives and strategic partnerships solidify its role as a key player in the global automotive market.
Latest News Highlights:
- BorgWarner secures a contract with a major Chinese OEM for dual inverters with boost function in hybrid vehicles.
- Begins eMotor rotor and stator production for XPeng Motors, set to supply the X9 MPV and new B-class sedan.
- Extends contract to supply high voltage coolant heaters (HVCH) for a global OEM's electric light-vehicle platforms.
- Reports first-quarter 2024 financial results with increased net sales and earnings, maintaining a positive outlook for the year.
Marcus Ericsson's victory at the 106th Indianapolis 500 has earned him a permanent place on the Borg-Warner Trophy, becoming its 109th honoree. The unveiling ceremony took place in Indianapolis, marking Ericsson's first win and Chip Ganassi Racing's fifth Indy 500 triumph since 2000. He averaged 175.428 mph during the race and received $3.1 million in winnings. The trophy, a symbol of Indy 500 tradition, will also travel to Sweden to celebrate Ericsson. The detailed sculpting process for the trophy was elaborated by its creator, William Behrends.
BorgWarner has announced the supply of its integrated drive module (iDM) to a major Chinese automobile manufacturer, marking a significant partnership in the P4 hybrid architecture segment. This high-voltage iDM offers high power density and torque output, producing up to 200kW with over 4000Nm wheel torque. The inverter features patented dual-side cooled Viper power switch technology, enhancing reliability and reducing size. Mass production is anticipated in Q3 2023. This development underscores BorgWarner's commitment to innovative electric vehicle solutions.
BorgWarner's HVH250 electric motor has been selected to power e-axles for light-duty commercial trucks by a European customer. Each e-axle will feature two of these motors, which boast peak efficiencies exceeding 95%. The production is set to begin in early 2023, supporting both new electric vehicles and conversions of existing internal combustion engine fleets. BorgWarner emphasizes the reliability and robustness of its HVH technology, highlighting its ability to address challenges in urban emissions zones.
BorgWarner Inc. (NYSE: BWA) reported third quarter results with net sales of $4,060 million, a 19% increase year-over-year. The company anticipates electric vehicle revenue to reach $850 million in 2022, doubling from 2021. BorgWarner is also set to acquire Hubei Surpass Sun Electric, expanding its footprint in China. Adjusted earnings per diluted share increased to $1.24, up from $0.80 the previous year. The company updated its full-year guidance, expecting net sales between $15.4 billion and $15.7 billion.
BorgWarner (NYSE: BWA) has scheduled its 2022 Third Quarter Results Conference Call for October 27, 2022, at 9:30 AM ET. The call will be available via live webcast on their official investor relations page, and an archive will be accessible afterward. With over 130 years of innovation in mobility, BorgWarner is focusing on accelerating the transition to eMobility, aiming for a cleaner and safer future. For further details, visit borgwarner.com.
BorgWarner's Pei Wang, Vice President and General Manager for Asia, has been inducted into the 2022 Women in Manufacturing Hall of Fame.
This recognition is for her exceptional contributions in promoting and supporting women in the manufacturing industry. Wang, part of a select group of 13 women honored, has been instrumental in fostering female talent within BorgWarner and leads initiatives to enhance women’s leadership roles. The induction took place during the 12th annual SUMMIT in Atlanta on October 12, 2022.
BorgWarner appointed Sailaja Shankar to its Board of Directors on September 22, 2022. Shankar brings extensive experience in strategic change and digital security from her roles at Cisco and McAfee. As the Senior Vice President at Cisco, she oversees the global security business, emphasizing innovative strategy and architecture. Her leadership aims to align with BorgWarner's evolving product line and its vision of 'Charging Forward.' This addition to the board is expected to strengthen the company's position in eMobility while leveraging Shankar's expertise in software applications and cybersecurity.
BorgWarner (NYSE: BWA) announced on September 20, 2022, its agreement to acquire the Electric Vehicle Solution, Smart Grid, and Smart Energy businesses of Hubei Surpass Sun Electric (SSE) for an enterprise value of up to RMB 410 million. This acquisition supports BorgWarner's global expansion in the DC Fast Charging market, enhancing its operational footprint in China alongside existing capabilities in Europe and North America. The deal, expected to close in Q1 2023, could include contingent payments up to RMB 143 million.
BorgWarner Inc. (NYSE: BWA) will host a Third Quarter Results Conference Call on October 27, 2022, at 9:30 AM ET. The call will be accessible via BorgWarner's investor website. Participants unable to attend the live session can access an archive on the same website. For over 130 years, BorgWarner has been a global leader in mobility innovation, focusing on accelerating the transition to eMobility for a sustainable future.
BorgWarner has secured its second award for an integrated drive module (iDM) from Hyundai Motor Company (HMC) to power an A-segment electric vehicle, with production set to begin in Q3 2024. The iDM146 technology is recognized for its high power density, efficiency, and customizable modular design. This partnership, which spans two decades, highlights BorgWarner's expertise in electric propulsion systems, following a previous collaboration with HMC. The iDM unit is designed for 400V systems, providing a peak output of 135kW.
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