BorgWarner aims high with electrification targets
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BorgWarner (NYSE:BWA) announced the next phase of its electrification strategy at an investor day event being held on Tuesday. The company aims to advance its position as a technology leader in eProducts, while maximizing its Foundational portfolio.
The "Charging Forward" strategy was noted to be well on track to meet or exceed BorgWarner's (BWA) 2025 goals for electric vehicle organic growth, M&A and asset dispositions.
BorgWarner (BWA) expects its eProducts business to deliver over $10B in revenue by 2027 and realize positive free cash flow off margins of around 7%.
"We believe BorgWarner is uniquely positioned to capture this growth opportunity given our leading market positions, deep customer relationships, strong Foundational assets and proven track record of innovation," noted CEO Frederic Lissalde.
"As we work to drive sustainable, long-term value for our shareholders and other stakeholders, we will continue to be guided by our vision for a clean, energy-efficient world, " he added.
Shares of BorgWarner (BWA) fell 3.73% in premarket action on Tuesday to $45.20 vs. the 52-week trading range of $31.14 to $51.14.