BorgWarner Inc.

Company Profile

■URL

https://www.borgwarner.com/

■Address

3850 Hamlin Rd, Auburn Hills, Michigan, 48326, USA

Business Overview

-The Company is an automotive supplier specializing in developing and manufacturing technology solutions to improve the performance, efficiency and environmental qualities for powertrains of combustion, hybrid and electric vehicles.

-As of December 31, 2024, the Company is organized into four reportable segments:

Segment	Details
Turbos & Thermal Technologies	The segment develops and manufactures products to improve fuel economy, reduce emissions, and improve vehicle performance. Its products include turbochargers, eBoosters, eTurbos, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, and battery heaters.
Drivetrain & Morse Systems	The segment’s products include control modules, friction and mechanical clutch products, torque-management products, coupling systems, chain systems, and variable camshaft phasing products.
PowerDrive Systems	The segment develops technologies and systems powering electric and hybrid vehicles. Its products include inverters, onboard chargers, DC/DC converters, combination boxes, eMotors, generators, and fully integrated drive modules. The segment also develops various electronic control units including engine control units, transmission control units, battery management systems, propulsion controllers and domain controllers.
Battery & Charging Systems	The segment provides lithium-ion battery systems for bus, truck- and off-highway applications and DC fast chargers. Its products include NMC and LFP battery packs.

-In 2021, the Company announced the Charging Forward electrification strategy to actively grow its electrification products and systems over time. The strategy is focused around three elements: Scale organic growth in electric vehicles, execute mergers and acquisitions to expand the Company’s EV portfolio, and optimize the Company’s combustion portfolio with divestitures between USD 3 to 4 billion in annual revenue. In 2023, the Company updated its strategy to focus on advancing its position in electric products and optimize the value of its combustion portfolio. This focused around the actions of growing its portfolio through organic investments and technology-focused acquisitions. The Company’s eProduct revenue was USD 1.5 billion in 2022, 2.0 billion in 2023, and 2.3 billion in 2024, representing 12%, 14%, and 17% of the Company’s total revenue, respectively.

-As part of its electrification strategy, the Company completed the spin-off of its Fuel Systems and Aftermarket segments as a separate independent public company named Phinia. The spin-off was completed on July 3, 2023.

-On March 1, 2023, the Company completed the acquisition of Hubei Surpass Sun Electric’s electric vehicle solution, smart grid, and smart energy businesses for a total consideration of CNY 288 million. The acquisition will support the Company’s electrification business in Asia and complement its charging footprint in Europe and North America.

-On December 1, 2023, the Company completed the acquisition of the electric hybrid systems business segment of Eldor Corporation, expanding its capabilities in high-voltage power electronics such as on-board chargers, DC-DC converters, and integrated high-voltage boxes. The Company paid EUR 72 million for the acquisition on closing, with up to EUR 175 million in earn-out payments that could be paid over the two years following the completion of the acquisition.

Competitors

Shareholders

-The Company is listed on the New York Stock Exchange.

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Products

eMobility Technologies
Battery Systems (AKASOL AG)
-AKA CYC ultra high energy battery system with cylindrical cell battery modules
-LFP Battery System with multiple pack structures for commercial vehicles (Flat Module Architecture)
-OEM PRC batteries with prismatical cells for commercial vehicles
-AKR PRC 48V solution for small electric vehicles
-AKARack modular energy pack with flexible scalability

Chargers
-IPERION-120 DC fast charger
-RHOMBUS-120/180 DC fast charger
-Bidirectional V2G charger
-Bidirectional dispenser

Controllers
-Propulsion controllers
-Battery management controllers
-Motor controllers
-Light vehicle engine controllers
-Light vehicle transmission controllers
-Commercial vehicle engine controllers
-Commercial vehicle transmission controllers

EV Transmissions
-High ratio chain drive transmissions
-eGearDrive transverse electric drive transmissions
-eGearDrive longitudinal electric drive transmissions

Electric Drive Motors
-Permanent magnet synchronous drive motors
-DHT / Range extender dedicated generator
-HVH series electric motors

Electric Drive Modules
-One- or two-speed eAWD drive modules
-On-axis electric drive modules
-eAxle integrated drive modules

Power Electronics
-800-Volt silicon carbide inverter
-900-Volt silicon carbide performance inverter platforms
-850-Volt multi-level high-speed inverters
-Combined inverters & DC/DC converters
-Dual inverters
-All-in-one box
-On-board battery chargers
-Isolated DC/DC converters
-48V DC/DC converters
-48V inverters
-Motor controllers

Thermal Management
-High-voltage coolant heaters
-Secondary air systems
-Fans
-Visctronic fan drives
-Intercell eCoolers for battery cells
-eCoolers for power electronics

Conventional Propulsion Technologies
AWD and Cross Axle Systems
-Electro-hydraulic AWD couplings
-Driveline disconnect AWD couplings
-Electro-magnetic AWD couplings
-On-demand AWD transfer cases
-Part-time AWD transfer cases
-Front axle disconnect modules
-Electronic limited-slip differential controls
-Torque vectoring eRDMs
-Hy-Vo driveline chains

Boosting Technologies
-Wastegate turbochargers for diesel engines
-Wastegate turbochargers for gasoline engines
-Variable turbine geometry turbochargers for diesel engines
-Variable turbine geometry turbochargers for gasoline engines
-Multistage turbocharging systems

Electric Boosting Technologies
-eBooster electrically driven compressors
-eTurbo electrically assisted turbochargers
-eTurbocompound water-cooled generators
-Organic Rankine Cycle turbines and pump-expanders

Engine Timing Systems
-Engine timing chains
-Electric variable cam timing systems
-Variable valvetrain systems

Ignition Technologies
-High energy ignition coils
-Coupled multi-charge ignition coils
-Diesel cold start systems
-Ceramic glow plugs
-Metal glow plugs
-Pressure sensor glow plugs

Intake and Exhaust Gas Management
-EGR systems
-EGR valves
-EGR coolers
-Exhaust heat recovery systems
-Smart remote actuators
-Electronic throttle valves

P1 Hybrid Architecture

P2 Hybrid Architecture
-On-axis drive modules
-Off-axis drive modules
-HY-VO driveline chains

P4 Hybrid Architecture
-Integrated drive modules

Sensors
-Exhaust gas temperature sensors
-Ammonia sensors
-Oxygen sensors
-Particulate matter sensors

Transmission Technologies
-DualTronic clutch systems
-One-way clutches
-Double-sided friction plates
-Single-sided friction plates
-Torque converter clutches – friction discs
-Torsional vibration dampers
-Brake plates
-Collated packs
-Separators plates
-Transmission bands
-DualTronic control modules
-Transmission solenoid modules
-Low leak variable bleed solenoids
-On-off and pulse modulated solenoids
-Proportional mini direct-acting variable force solenoids
-Variable force/proportional solenoids
-High pressure valves
-Pressure relief valves

Valvetrain Systems
-Cam torque actuated phasers
-Intelligent cam torque actuation
-Torsional assist phasers
-Oil pump actuated phasers
-Center feed cam phasers
-Roller finger followers

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History

1880	Morse Equalizing Spring Company, forerunner of Morse Chain, was founded.
1928	BorgWarner Corporation was formed. Founding companies included Borg & Beck, Marvel-Schebler, Warner Gear and Mechanics Universal Joint.
1929	Acquired Morse Chain.
1964	Established a joint venture, NSK-Warner with NSK Limited (Japan).
Apr. 1995	Purchased Precision Forged Products Division of Federal-Mogul Corporation.
1995	Entered into a joint venture with Divgi Metalwares Private Ltd. Entered into a joint venture with Shiyan Automotive Transmission Factory ("Shiyan") in China. The venture is named Huazhong Warner Transmission Company Ltd.
Jun. 1996	Acquired Coltec Industries Inc.
1996	Three automotive business were acquired from Coltec industries, including Holley Automotive.
Oct. 1997	Acquired a 63% interest in Kuhnle, Kopp & Kausch A.G.
May 1998	Opened a new headquarter for Morse TEC Europe.
Oct. 1998	Acquired turbocharger business from AG Kuhnle.
Mar. 1999	Acquired Kuhlman Corp., a manufacturer of proprietary engine components, including turbochargers, fans, fan drives and other products.
May 1999	Formed Lapeer Warner LLC with Lapeer Metal Stamping Co. Inc.
Oct. 1999	Acquired the Fluid Power Division of Eaton Corporation, a manufacturer of powertrain cooling solutions.
May 2000	Formed a strategic alliance with Valeo Engine Cooling to collaborate on the development of cooling systems for light, medium and heavy truck engine vehicle applications.
Jun. 2001	Formed a 50-50 joint venture with Hitachi Ltd. Automotive Products Group. The JV, called Hitachi Warner Turbo Systems Ltd.
Sep. 2002	Established Morse TEC Korea, near Seoul.
Feb. 2007	Opened a new 34,000-square-foot European Drivetrain Competence Center in Ketsch, Germany.
Sep. 2009	Made BERU AG (Currently BorgWarner BERU Systems GmbH) its wholly-owned subsidiary.
Sep. 2009	Established BorgWarner United Transmission Systems, a joint venture with 12 automakers in China.
2010	Established China Technical Center in Shanghai, China.
	Established a new facility to provide manufacturing, sales and engineering support for the Thermal Systems business in Chennai, India.
	Acquired Dytech ENSA to expand its product portfolio in exhaust gas recirculation technologies.
2011	Acquired the Swedish-based Traction System division of Haldex AB.
2012	Established a new production plant and engineering center in Ningbo, Jiangsu Province, China.
	Established a new factory and engineering center in Itatiba, Brazil.
	Divested its spark plug business to Federal-Mogul Corporation.
2014	Acquired 100% of the equity interests in Gustav Wahler GmbH und Co. KG, a producer of exhaust gas recirculation (EGR) valves, EGR tubes and thermostats.
Jan. 2015	Acquired remaining 51% of BERU Diesel Start Systems Pvt. Ltd., a glow plug manufacturer, from joint venture partner, making it a wholly owned subsidiary.
Nov. 2015	Acquired Remy International, Inc., a manufacturer of starter motors and alternators.
Sep. 2017	Finalized acquisition of Sevcon, a company specializing in control and power solutions for electric and hybrid vehicles. The transaction was valued at approximately USD 200 million.
Apr. 2019	Divested Wahler thermostat business to Arlington Industries Group Ltd.
Jan. 2020	Entered agreement to acquire Delphi Technologies PLC for approximately USD 3.3 billion in an all-stock transaction.
Oct. 2020	Completed the acquisition of Delphi Technologies.
Jun. 2021	Completed voluntary public takeover of shares of AKASOL AG, resulting in the ownership of 89% of AKASOL’s shares for EUR 648 million.
Feb. 2022	Completed registration of merger squeeze of AKASOL AG, resulting in complete acquisition of AKASOL.
Apr. 2022	Completed acquisition of Santroll Automotive Components, a developer of hairpin concentrated-winding eMotors for light electric vehicles, for CNY 1.4 billion.
Aug. 2022	Completed acquisition of Rhombus Energy Solutions, a developer of electric vehicle charging technology, for USD 185 million.
Sep. 2022	Acquired electrification businesses of Hubei Surpass Sun Electric for CNY 410 million through an Equity Transfer Agreement.
Dec. 2022	Completed acquisition of Drivetek, a provider of research and development services for electric drive products, for CHF 35 million.
Mar. 2023	Completed acquisition of electric vehicle solution, smart grid, and smart energy businesses of Hubei Surpass Sun Electric for CNY 288 million.
Jul. 2023	Completed spin-off of Fuel Systems and Aftermarket segments as an independent company, Phinia.
Dec. 2023	Completed acquisition of electric hybrid systems business segment of Eldor Corporation for EUR 72 million at closing, with additional earn-out payments of up to EUR 175 million.