BorgWarner says its new logo “underscores the company’s progress in its eMobility transformation through the execution of its Charging Forward strategy.” This is the first time the logo has changed in over three decades.
BorgWarner announced its Charging Forward strategy in March 2021 and says 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. Additionally, EV-focused M&A is tracking ahead of plan, the company says, with the five acquisitions the company has made in the battery pack, e-motor, power electronics, and direct current fast charging spaces. With the spin-off of Phinia expected to be completed in Q3 of this year, BorgWarner says it will have met its objectives with respect to optimizing its combustion portfolio.
In addition, BorgWarner announced 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 says it expects eProduct revenues of $2.3 to $2.6 billion.