Leading global supplier BorgWarner, for the first time in over three decades, has unveiled a new logo underscoring the company’s progress in its eMobility transformation through the execution of its ‘Charging Forward’ strategy.
Meanwhile, Frédéric Lissalde, President and Chief Executive Officer, BorgWarner said “now is the right time” to introduce the company’s new logo, as it “signifies the tremendous progress our team has made in transforming BorgWarner from a leader in conventional propulsion technologies to a leader in mobility, including eMobility.”
To recognise this new chapter, the company also announced its plans to leverage the strength of its foundational products to continue to grow its eProduct (EV and hybrid) revenue to $5.6 billion in 2025 and to greater than $10 billion in 2027. This year, the company expects eProduct revenues of $2.3 to $2.6 billion.
Charging Forward
The company had first announced the ‘Charging Forward’ strategy in March 2021. It said it is on track to have at least 25% of its revenues from battery electric vehicles (EV) by 2025, with organic EV bookings of $3 billion for 2025 exceeding its $2.5 billion target.
Further, EV-focused M&A is also tracking ahead of plan with the five acquisitions the company has made in the battery pack, e-motor, power electronics, and direct current fast charging spaces, a release issued by the company stated.
With the spin-off of PHINIA expected to be completed in Q3 of this year, BorgWarner will have met its objectives with respect to optimising its combustion portfolio, the release stated. It must be noted that BorgWarner had announced its intent to spin off fuel systems and aftermarket segments, consistent with its ‘Charging Forward’ strategy in December 2022.