BorgWarner releases 2023 financial report, accelerating electrification transformation

BorgWarner's 2023 financial report shows that the group achieved annual revenue of US$14.198 billion, a year-on-year increase of 12.4%. In recent years, BorgWarner has accelerated its layout of electrification and completed the acquisition of Hubei Zhuiri Electric Co., Ltd. and Eldor's hybrid system business unit. In addition, BorgWarner has also signed cooperation agreements with Fast and Fudi Power to strengthen the production of commercial vehicle high-voltage inverters and blade batteries.