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. (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.
BorgWarner has secured a $4.09 million award from the U.S. Department of Energy to develop a cost-effective direct current fast charger (DCFC). The project, in collaboration with U.S.-based suppliers and research partners, aims to reduce costs by 20-30% and enhance power efficiency. The charger will support 10 charge points with a combined capacity of 350kW, allowing for simultaneous charging of multiple vehicles. This initiative reflects BorgWarner's commitment to advancing electric vehicle infrastructure and reducing emissions.
BorgWarner Inc. (NYSE: BWA) has finalized its acquisition of Santroll Automotive Components, specifically its eMotor business, enhancing its leadership in electric propulsion systems. This acquisition is expected to significantly bolster BorgWarner's vertical integration capabilities and enable a faster market response for their light vehicle e-motors. Santroll, located in Tianjin, China, specializes in advanced eMotor technologies and has established relationships with major clients in China, which will further expand BorgWarner's portfolio.
BorgWarner Inc. (NYSE: BWA) has announced a conference call to discuss its 2022 First Quarter Results, scheduled for May 4, 2022, at 9:30 AM Eastern Time. Interested parties can join the live webcast via the company's investor relations page. The call will be archived for those unable to attend live. With a strong presence in the automotive industry, BorgWarner specializes in clean and efficient technology solutions across combustion, hybrid, and electric vehicles, operating in 93 locations across 22 countries and employing around 49,000 people globally.
BorgWarner's Delphi Technologies Aftermarket has been recognized as Supplier of the Year by NEXUS Automotive at the Business Forum held in Vienna from March 8 to 10, 2022. This award acknowledges their innovative collaborations, such as investments in the Smart Mobility Venture Capital Fund Mobilion. The partnership focuses on electrification and digitalization, aiming to improve sustainability and address skill gaps within the industry. Both companies are committed to enhancing accessibility for all markets in preparation for the next generation of vehicles.
On March 3, 2022, Hélio Castroneves was honored as the 108th face on the Borg-Warner Trophy, following his historic win at the 2021 Indianapolis 500. This marks his fourth addition to the trophy, having previously won in 2001, 2002, and 2009. The unveiling ceremony took place at the Indiana Statehouse, highlighting Castroneves' dedication to racing.
In addition to the trophy, he will receive a miniature 'Baby Borg' trophy later in the year, alongside team owners Michael Shank and Jim Meyer, who will also receive replicas for their contributions.
On February 22, 2022, it was announced that Tonit Calaway will join the Board of Directors of Air Products (NYSE: APD) starting March 1, 2022. Ms. Calaway brings a wealth of experience, having served in leadership roles in HR and legal at BorgWarner and Harley-Davidson. Air Products’ Chairman, Seifi Ghasemi, praised her for her diverse background, emphasizing the company's commitment to diversity and inclusion. Air Products, a leader in industrial gases, reported $10.3 billion in sales for fiscal 2021 and has a market capitalization of approximately $60 billion.
BorgWarner has secured a significant contract with a major global OEM to provide high voltage generator inverters for an innovative electrified architecture aimed at charging main batteries. These silicon carbide (SiC) inverters are designed for high continuous current and advanced cooling to meet thermal demands. Production is set for 2024, leveraging BorgWarner's scalable power modules, which enable continuous operation at 70% of peak current, outperforming traditional inverters. This contract highlights BorgWarner's commitment to sustainable mobility solutions.
BorgWarner has secured a contract with a Chinese luxury new energy vehicle brand to supply its integrated drive module (iDM) featuring an 800V silicon carbide inverter and hairpin electric motor. This marks BorgWarner's first 800V iDM project, aimed at enhancing electric vehicle range and performance. The iDM220 will be manufactured using fully automated production and is set for production start in 2023. BorgWarner plans to increase electric vehicle revenues to approximately 45% by 2030 and aims for carbon neutrality by 2035.
BorgWarner has secured its first high-voltage (HV) eFan system contract with a major European Commercial Vehicle OEM, aimed at battery-powered long-haul vehicles. Production is set to begin in late 2024, reflecting the company's thermal management expertise and commitment to CO2-neutral solutions in the automotive sector. The eFan system, optimized for efficiency and performance, will be essential for cooling components in electric trucks and is compatible with various high-voltage systems. This win underscores BorgWarner's leadership in thermal management technology amidst evolving emission regulations in Europe.
BorgWarner is partnering with a prominent Chinese OEM to provide its 800V silicon carbide (SiC) inverters for a new high-end battery electric vehicle (BEV) platform. This platform, aimed at mid- and high-end markets, will debut in Q1 2023. The inverters enhance power and performance, allowing the OEM to target the high-end BEV sector. BorgWarner’s robust supply chain management and experience in SiC applications are expected to facilitate agile development for the new models.
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