New CEO of Fortune 500 auto parts supplier BorgWarner just pulled the plug on its once-promising EV charging business

Quick Summary:

Concluding it will not meet the company's minimum return target, execs say closing down the operations this quarter will save a cumulative $45 million in projected operating losses across this year and next.

This doesn’t mean BorgWarner is taking a dimmer view of electrification overall, as EVs and plug-in hybrids are booming in China.

The automotive parts supplier offers a portfolio of powertrain components businesses across passenger cars and commercial vehicles, actively managed based around a 15% targeted return on invested capital.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United StatesChinaIndia

Topics: Succession BorgWarner Fortune 500 Companies Fortune 500 Electric vehicles Autos

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-09 @ 07:26:56 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 524 words

Reading Time: 3 minutes read

Sentences: 4 lines

Sentence Length: 131 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28508957

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