BorgWarner targets almost half of revenue from electrification by 2030

Rodolfo Schellin

DETROIT — BorgWarner Inc. on Tuesday reported it targets boosting its share of profits from electric vehicles to about forty five percent by 2030 from significantly less than three percent now.

The Auburn Hills, Mich., company reported its prepare includes three techniques — profitably scaling electrical light vehicles, growing into electrical business vehicles and optimizing its combustion-engine portfolio via the prepared disposition of enterprises with concerning $three billion and $four billion in aggregate profits.

“We think the electrification chance is real, substantial, in close proximity to phrase and crucial to our sustainability goals,” BorgWarner CEO Frederic Lissalde reported in a assertion.

BorgWarner, which was No. 25 on Automotive News’ global provider ranking for 2019 with $ten.two billion in revenue to automakers, shut its acquisition of Delphi Technologies last 12 months. The offer is expected to help better posture the two providers for the change towards electrification.

Forward of an investor working day event, BorgWarner reported it expects to crank out about $four.five billion in no cost money flow concerning this 12 months and 2025. The company said it aims to achieve carbon neutrality by 2035.


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