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BorgWarner (BWA) Wins $4.09M US DOE Award for DC Fast Charger
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BorgWarner Inc. (BWA - Free Report) recently received the U.S. Department of Energy (“DOE”) Award, valued at $4.09 million, to design and develop a cost-effective, advanced direct current fast charger (DCFC). BorgWarner received one of the 25 projects on research, development and demonstration that aim to advance electrification, reduce vehicle emissions and improve electric vehicle (EV) charging infrastructure.
BorgWarner will lead the 36-month DCFC project jointly with U.S.-based suppliers and research partners, including Michigan State University, eTransEnergy, Cityfi, the State of Michigan and Barton Marlow, besides component supplier support from Wolfspeed, Inc.
The project aims to develop the next generation DCFC system at a 20-30% cost reduction with increased power density, reduced energy losses and package size and improved reliability. BWA, along with its project partners, will be working toward delivering a charger with 10 charge points and collectively capable of a total of 350kW. The flexibility and versatility of BorgWarner’s single-stage power conversion and power module architecture will allow the charger to deliver power to up to five vehicles at a time. The charger will demonstrate product scalability from 150kW to 350kW or greater per project design and produce output power from single 25kW power modules.
Since DCFCs allow higher power levels, charging stations have the provision to deploy numerous charge points so that multiple vehicles can be charged simultaneously. The unit will be structured to support current EVs and potential future battery-electric vehicles that operate at higher voltages.
The company is optimistic about once again partnering with the DOE to develop the next generation of DCFC technology and hopes to contribute to a more energy-efficient industry.
In another development, the company has completed its acquisition of Santroll Automotive Components, a Santroll’s eMotor business spinoff. The buyout is expected to bolster BorgWarner’s electric propulsion capabilities while allowing increased speed to market.
Based in Tianjin, China, Santroll designs and manufactures hairpin and concentrated-winding technology eMotors for use in light vehicles and offers manufacturing equipment design capabilities and automation expertise.
With its latest buyout deals and business wins, the company is poised to make great strides in the electrification space.
Shares of BWA have lost 22.2% over the past year compared to its industry’s 43.2% decline.
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CNH Industrial has an expected earnings growth rate of 2.2% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 0.73% upward in the past 60 days.
CNH Industrial’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. CNHI pulled off a trailing four-quarter earnings surprise of 63%, on average. The stock has risen 6.3% over the past year.
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BorgWarner (BWA) Wins $4.09M US DOE Award for DC Fast Charger
BorgWarner Inc. (BWA - Free Report) recently received the U.S. Department of Energy (“DOE”) Award, valued at $4.09 million, to design and develop a cost-effective, advanced direct current fast charger (DCFC). BorgWarner received one of the 25 projects on research, development and demonstration that aim to advance electrification, reduce vehicle emissions and improve electric vehicle (EV) charging infrastructure.
BorgWarner will lead the 36-month DCFC project jointly with U.S.-based suppliers and research partners, including Michigan State University, eTransEnergy, Cityfi, the State of Michigan and Barton Marlow, besides component supplier support from Wolfspeed, Inc.
The project aims to develop the next generation DCFC system at a 20-30% cost reduction with increased power density, reduced energy losses and package size and improved reliability. BWA, along with its project partners, will be working toward delivering a charger with 10 charge points and collectively capable of a total of 350kW. The flexibility and versatility of BorgWarner’s single-stage power conversion and power module architecture will allow the charger to deliver power to up to five vehicles at a time. The charger will demonstrate product scalability from 150kW to 350kW or greater per project design and produce output power from single 25kW power modules.
Since DCFCs allow higher power levels, charging stations have the provision to deploy numerous charge points so that multiple vehicles can be charged simultaneously. The unit will be structured to support current EVs and potential future battery-electric vehicles that operate at higher voltages.
The company is optimistic about once again partnering with the DOE to develop the next generation of DCFC technology and hopes to contribute to a more energy-efficient industry.
In another development, the company has completed its acquisition of Santroll Automotive Components, a Santroll’s eMotor business spinoff. The buyout is expected to bolster BorgWarner’s electric propulsion capabilities while allowing increased speed to market.
Based in Tianjin, China, Santroll designs and manufactures hairpin and concentrated-winding technology eMotors for use in light vehicles and offers manufacturing equipment design capabilities and automation expertise.
With its latest buyout deals and business wins, the company is poised to make great strides in the electrification space.
Shares of BWA have lost 22.2% over the past year compared to its industry’s 43.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
BWA currently carries a Zacks Rank #4 (Sell).
Better-ranked players in the auto space include BRP Group, Inc. (DOOO - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Visteon Corporation (VC - Free Report) and CNH Industrial , carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
BRP Group has an expected earnings growth rate of 9.1% for fiscal 2023. The Zacks Consensus Estimate for current-year earnings has been revised around 7.9% upward in the past 60 days.
BRP Group’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. DOOO pulled off a trailing four-quarter earnings surprise of 68%, on average. The stock has declined 8.2% over the past year.
Visteon has an expected earnings growth rate of 104.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 9.4% upward in the past 60 days.
Visteon’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed in the remaining. VC pulled off a trailing four-quarter earnings surprise of 209.9%, on average. The stock has declined 14.2% over the past year.
CNH Industrial has an expected earnings growth rate of 2.2% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 0.73% upward in the past 60 days.
CNH Industrial’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. CNHI pulled off a trailing four-quarter earnings surprise of 63%, on average. The stock has risen 6.3% over the past year.