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.
Rhea-AI Summary
BorgWarner has started eMotor rotor and stator production for XPeng Motors, a leading Chinese Smart EV company. The product will be used on the X9 MPV and XPeng's next electric B-class sedan. The high voltage hairpin (HVH) 220 eMotor offers high power and torque density, higher efficiency at a competitive cost, and outstanding durability. BorgWarner's in-depth product expertise will support XPeng in designing their electric drives.
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BorgWarner has extended its contract to supply 400V high voltage coolant heaters (HVCH) to a major global OEM for use in electric SUVs and passenger trucks. The technology will be manufactured at BorgWarner's Cadillac, Michigan facility and is designed to regulate battery pack temperature and cabin heating in EVs. This is one of three contracts secured with North American OEMs for BorgWarner's HVCH, and the company is the only supplier producing American-made HVCH technology. The HVCH is fast-responding and compact, providing a source of heat for cabin comfort in extreme temperatures down to -40˚C. BorgWarner has also won business for its HVCH technology in other regions, including Europe.
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BorgWarner Inc. (NYSE: BWA) declared a quarterly cash dividend of $0.11 per share of common stock, payable on March 15, 2024, to stockholders of record on March 1, 2024. The company has a history of over 130 years in successful mobility innovation and is currently focused on accelerating the world's transition to eMobility for a cleaner, healthier, and safer future.
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BorgWarner has entered into a strategic relationship agreement with FinDreams Battery, a subsidiary of BYD Company Limited, to be the exclusive non-OEM localized manufacturer of LFP battery packs for commercial vehicles in Europe, the Americas, and select regions of Asia Pacific. The agreement, lasting 8 years, allows BorgWarner to utilize FinDreams Battery's blade cells and intellectual property for battery pack design and manufacturing. This partnership aims to meet the increasing demand for LFP cells and further electrify the commercial vehicle market segment.
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BorgWarner Inc. reported its fourth quarter and full-year results, announcing strategic relationships with FinDreams Battery and Shaanxi Fast Auto Drive Group. The company also completed an acquisition and secured multiple new eProduct awards. The U.S. GAAP net sales for the fourth quarter were $3,522 million, an increase of 6.2% compared to the previous year. Full-year net sales were $14,198 million, showing a 12.4% increase. The company provided a 2024 full year guidance, expecting net sales to be in the range of $14.4 billion to $14.9 billion, with an operating margin expected to be in the range of 8.5% to 8.9%.
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Fermata Energy integrates its V2X services platform with BorgWarner's bidirectional EV chargers, showcasing commitment to renewable energy and promoting wider accessibility while lowering electric vehicle TCO. The integration includes UL certified 60kW and 125kW chargers, accelerating availability of bidirectional technology for medium- and heavy-duty transportation use cases and enabling optimization of V2X bidirectional charging commands with a CCS communication protocol. The company is actively working with automotive OEMs to embed bidirectional charging capabilities, with successful projects showcasing economic benefits and diverse value streams for fleet operators.
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BorgWarner has been named one of Fortune magazine's 2024 World's Most Admired Companies list for the second consecutive year, ranking 4th in the 'motor vehicle parts' category. The accolade reflects the company's talent attraction, retention, social responsibility, and investment value. The list is compiled based on a corporate reputation survey executed by Fortune in collaboration with Korn Ferry, a global organizational consulting firm.
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BorgWarner Inc. (BWA) has announced a webcast for the 2023 fourth quarter and full year results conference call scheduled for February 8, 2024, at 9:30 am Eastern Time. The company aims to accelerate the world's transition to eMobility for a cleaner, healthier, safer future.
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BorgWarner presented Josef Newgarden with the BorgWarner Championship Driver's Trophy™, a miniature replica of the Borg-Warner Trophy® to commemorate his 2023 Indianapolis 500 victory. The awards ceremony was held at the Henry Ford Museum of American Innovation in Dearborn, Michigan. Roger Penske also received the Championship Team Owner's Trophy honoring Team Penske's 19th Indianapolis 500 win. Both trophies celebrate the history and tradition of the race, with Newgarden expressing his honor and excitement to be part of it.
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BorgWarner (BWA) forms joint venture with Shaanxi Fast Auto Drive Group to develop high-voltage inverter for commercial vehicles, expanding its product portfolio for battery electric and hybrid commercial vehicles.
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FAQ
What is the current stock price of BorgWarner (BWA)?
The current stock price of BorgWarner (BWA) is $31.88 as of December 20, 2024.
What is the market cap of BorgWarner (BWA)?
The market cap of BorgWarner (BWA) is approximately 6.9B.
What does BorgWarner Inc. do?
BorgWarner Inc. is a global leader in innovative powertrain solutions, improving fuel efficiency, reducing emissions, and enhancing performance for engines, transmissions, and driveline systems.
What are the main product segments of BorgWarner?
BorgWarner operates through three main segments: Air Management, Drivetrain and Battery Systems, and e-Propulsion.
Who are BorgWarner's main customers?
BorgWarner's largest customers are Ford and Volkswagen, contributing 14% and 11% of the 2023 revenue, respectively.
What recent contracts has BorgWarner secured?
BorgWarner recently secured contracts to supply dual inverters with boost function to a major Chinese OEM and high voltage coolant heaters (HVCH) to a major global OEM.
What are BorgWarner's financial highlights for the first quarter of 2024?
BorgWarner reported net sales of $3,595 million, a 6% increase from the previous year, and net earnings of $213 million or $0.93 per diluted share.
Where does BorgWarner generate most of its revenue geographically?
In 2023, BorgWarner generated 36% of its revenue from Europe, 34% from Asia, and 29% from North America.
What is BorgWarner's contribution to the eMobility transition?
BorgWarner is accelerating the transition to eMobility by developing advanced technologies for electric vehicles, including e-motors, power electronics, and control modules.
What recent products has BorgWarner developed for electric vehicles?
BorgWarner has developed high voltage hairpin (HVH) 220 eMotors and high voltage coolant heaters (HVCH) for battery-electric vehicles.
What is BorgWarner's outlook for 2024?
BorgWarner expects 2024 net sales to range from $14.4 billion to $14.9 billion, with an operating margin of 8.2% to 8.5%.
How long has BorgWarner been in the automotive industry?
BorgWarner has been a transformative global product leader in the automotive industry for over 130 years.
BorgWarner Inc.
NYSE:BWA
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BWA Stock Data
6.88B
217.11M
0.66%
101.8%
3.41%
Auto Parts
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