BorgWarner Secures New Supply Contracts-February 2024-www.financetom.com

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BorgWarner Secures New Supply Contracts

Jul 31, 2024 9:38 AM

12:16 PM EDT, 07/31/2024 (MT Newswires) -- BorgWarner ( BWA ) said Wednesday that it secured several contracts for its business, including one to deliver its eFan system for use on an original equipment manufacturer's series of heavy- and medium-duty battery electric vehicles in North America.

The company said it expects to start production in Q4 2027.

BorgWarner ( BWA ) said it also won contracts to supply exhaust gas recirculation coolers to a commercial vehicle customer in North America, with production to begin in Q4 2027.

Other contracts are to supply its electric cross differential to three original equipment manufacturers, including GAC Motor. The firm said production for GAC Motor is already underway and for the other two clients will start in 2026.

Shares of BorgWarner ( BWA ) were up over 9% in recent trading.

Price: 35.47, Change: +3.02, Percent Change: +9.31

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