BorgWarner and Fast Gear Group establish joint venture

BorgWarner and Fast Gear have reached an agreement to establish a joint venture to jointly promote the research and development of commercial vehicle electrification and hybrid products. This cooperation will combine BorgWarner's technological advantages and Fast Gear's experience in the commercial vehicle field to support the rapid development of the joint venture. It is expected that the new company will be officially established after the relevant approvals are completed in the first quarter of 2024.