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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.
BorgWarner's Supply Chain Manager, Kelly Zhu, has received the Women in Manufacturing STEP Ahead Award for exceptional leadership, marking her as one of 100 honored women this year. Zhu's career at BorgWarner began in Ningbo, China, where she progressed from a warehouse supervisor to her current managerial role. Over the years, she has taken on increasing responsibilities and actively participates in training programs to foster employee development. Zhu is also involved in a Junior Achievement program to inspire youth in business and manufacturing. The recognition ceremony occurred on September 24, 2020.
BorgWarner has enhanced its market presence by supplying the B01 turbocharger for the newly launched Volkswagen Nivus crossover. The vehicle's engine, featuring advanced turbo technology, offers an optimal combination of performance, fuel efficiency, and lower emissions tailored for the Brazilian market. With a 1.0-liter EA211 engine producing 126 horsepower and 147 lb-ft of torque, the B01 turbocharger supports a compact design and improved operational efficiency, promising better performance for consumers.
BorgWarner Inc. (NYSE: BWA) has announced a 2020 Third Quarter Results Conference Call scheduled for October 29, 2020, at 9:30 AM Eastern Time. The conference call will be accessible via the internet through the company’s investor relations page. This event will provide insights into the company’s financial performance and market developments. BorgWarner is a leader in clean and efficient technology solutions for combustion, hybrid, and electric vehicles, with operations in 19 countries employing around 29,000 people worldwide.
BorgWarner (BWA) announced that as of September 16, 2020, approximately 95.39% of the outstanding 5.00% Senior Notes due 2025 from Delphi Technologies were tendered in a private exchange offer. This equates to $763.1 million of the total $800 million. The transaction allows BorgWarner to adopt amendments to the notes' indenture, subject to conditions including the completion of its acquisition of Delphi Technologies, expected to close around October 5, 2020. The exchange offer expires on October 1, 2020.
BorgWarner has announced the supply of its advanced variable turbine geometry (VTG) turbocharger to a global OEM, enhancing its role in clean propulsion solutions. This contract supports multiple vehicle models and reinforces existing business with the OEM. The VTG turbocharger improves power output, reduces emissions, and withstands high exhaust gas temperatures, making it suitable for modern hybrid and combustion engines. BorgWarner's commitment to innovative technologies aims to meet future emissions regulations and enhance fuel efficiency.
BorgWarner partners with Plug and Play to establish an incubator in Detroit aimed at supporting startup companies in the automotive and tech sectors. This collaboration enhances access to resources and funding for emerging innovators while aligning with BorgWarner's commitment to technology advancement and diversity through the Michigan Minority Supplier Development Council's AmplifyD initiative. With prior ties to Plug and Play in Silicon Valley, this move positions BorgWarner as a crucial player in fostering the next generation of mobility technologies.
BorgWarner (NYSE: BWA) announced a private exchange offer and consent solicitation for Delphi Technologies' 5.00% Senior Notes due 2025, as part of its ongoing acquisition effort. BorgWarner aims to exchange approximately $800 million in outstanding notes for new notes at a rate of $1,000 for each $1,000 in senior notes tendered. Eligible noteholders can receive cash consideration of $1 for each $1,000 in notes. The exchange offer is set to expire on October 1, 2020, with an early tender deadline of September 16, 2020. The transaction's completion remains contingent on regulatory approvals.
BorgWarner announced the supply of its exhaust gas recirculation (EGR) technology for the Fiat 500 and Panda hybrid models. This marks their first gasoline EGR module for mild-hybrid technology with Fiat Chrysler Automobiles in the EMEA region. The compact EGR module aids in reducing emissions and improving fuel efficiency for Fiat’s 1.0-liter, three-cylinder engine. BorgWarner emphasizes its expertise in in-house development and manufacturing, contributing to cleaner hybrid applications.
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