BorgWarner To Form Joint Venture With Shaanxi Fast Auto Drive Group

RTTNews | 352 days ago
Stocktwits
BorgWarner To Form Joint Venture With Shaanxi Fast Auto Drive Group

(RTTNews) - Borg Warner Inc. (BWA) announced Wednesday it agreed to form a joint venture with Shaanxi Fast Auto Drive Group, a China-based market-leading commercial vehicle (CV) parts supplier specializing in transmission and drivetrain systems.

The move comes as BorgWarner continues to expand its product portfolio for battery electric and hybrid commercial vehicles.

The JV work on a high-voltage inverter application for high efficiency vehicles such as heavy-duty trucks and off-road vehicles, to support BorgWarner's business growth for power electronics in the electrified commercial vehicle market.

Subject to regulatory approval, BorgWarner expects to establish the joint venture in the first quarter of 2024.

The joint-venture will bringing together BorgWarner's cutting-edge technology, customer intimacy, and deep electrification expertise with Shaanxi Fast Auto Drive Group's commercial vehicle expertise and customer relationships.

Tags: BWA
Stocktwits
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