BorgWarner To Accelerate Its Electrification Strategy - Quick Facts

(RTTNews) - BorgWarner Inc. (BWA) announced Project CHARGING FORWARD, under which the company plans to grow revenue from electric vehicles to approximately 45% of total revenue by 2030 from less than 3% currently. The plan includes: profitably scaling electric light vehicles, expanding into electric commercial vehicles and optimizing the company's combustion portfolio through the planned dispositions of businesses with between $3 billion and $4 billion in aggregate revenue.

BorgWarner targets to generate approximately $4.5 billion in free cash flow between 2021 and 2025. The company has a commitment to achieve carbon neutrality by 2035.