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BorgWarner Shares Drop After New EV Vision Fails to Impress

  • Company to sell older tech, bolster electrification businesses
  • Parts maker aims to boost EV revenue to 45% of total by 2030
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BorgWarner Inc.’s attempt to garner more respect from investors for its effort to shift to electrification fell flat, triggering an 8% slide in the auto-parts maker’s shares on the day it presented its strategic vision.

The Detroit-area based company gave a three-hour presentation Tuesday, making a case that it’s just as prepared for the move to electric cars as the vehicle assemblers it has longed supplied, including Ford Motor Co., General Motors Co. and Volkswagen AG.