Feb 16, 2023 / 02:30PM GMT
Unidentified Analyst -
Next fireside chat, which is with BorgWarner. As everybody here knows, BorgWarner has long been viewed as a leader in technologies, that drive efficiency in vehicles, starting out in internal combustion. And in March of 2021, the company laid out a plan call charging forward. And essentially, the objective was to leverage the company's existing competencies, and expand much more aggressively into the EV market.
The opportunity is really big. When you look at the content per vehicle, for BorgWarner's EV driveline technologies, power electronics, electric motors, gearboxes, battery heaters. It could be over $2,600 per vehicle. And when you think about the equivalent in internal combustion, it's around $900 per vehicle. So for the company, the plan was to increase EV exposure from 3% of sales, $350 million in 2021 to 25% of sales or $4.5 billion by 2025, and then 45% of sales by 2030.
That $4.5 billion target included $2.5 billion from organic growth, at the time and $2 billion from acquisitions. So far, the company has line of sight on $3 billion from organic. So better than
Borgwarner Inc at Wolfe Research Global Auto, Auto Tech, and Mobility Conference Transcript
Jan 22, 2024
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