BorgWarner's full-year revenue in 2023 will reach $14.198 billion

BorgWarner's 2023 financial report shows that its full-year revenue reached US$14.198 billion, a year-on-year increase of 12.4%. Revenue is expected to reach US$14.4-14.9 billion in 2024, a year-on-year increase of 1%~5%, of which electric product sales are expected to increase by 25%-40%. BorgWarner has not only unlocked a number of electric product supply cooperations, but also has a lot of orders related to electrification. It is expected that the sales of electric products in 2024 will increase from approximately US$2 billion in 2023 to US$2.5 billion~2.8 billion. The company cooperates with BYD's Fudi Battery to provide LFP battery pack solutions for overseas commercial vehicles. In addition, BorgWarner has also established a joint venture with Shaanxi Fast to develop high-voltage inverters for the Chinese electric commercial vehicle market.