BorgWarner’s full-year financial year results included net sales of USD14.1bn, an increase of 12.4% when compared with 2022 (USD12.6bn). Gross profit was up too in 2023 at USD2.5bn (2022: USD2.3bn) with operating income of USD1.1bn, or 8.2% of net sales.

The EUR 75 million takeover of Eldor’s EHS segment, includes, on-board chargers (OBCs), DC/DC converters, and integrated high voltage boxes, all of which are expected to complement BorgWarner’s existing product portfolio.