Bulletin
Investor Alert

London Markets Open in:

Market Pulse Archives

June 2, 2021, 8:32 a.m. EDT

BorgWarner stock surges after selected by Hyundai to work on first electrification project

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    BorgWarner Inc. (BWA)
  • X
    Hyundai Motor Co. Ltd. (005380)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of BorgWarner Inc. /zigman2/quotes/201434123/composite BWA +2.52% surged 3.9% toward a near 3 1/2-year high in premarket trading Wednesday, after the auto drivetrain maker said it will work on its first electrification project with Hyundai Motor Group /zigman2/quotes/206684590/delayed KR:005380 -1.13% . BorgWarner said its integrated drive module (iDM) was selected by Hyundai for its power electric system, which will be used in electric vehicle production that is planned to start in mid-2023. "We have enjoyed nearly two decades of partnership with the Hyundai Motor Group and couldn't be more excited about this next step - working on our first electrification project together," said Stefan Demmerle, President of BorgWarner PowerDrive Systems. "I am especially enthusiastic about the fact that this is the first iDM product combining the portfolios of BorgWarner and legacy Delphi Technologies after the acquisition, reaping the benefits of the two organizations." BorgWarner is in the process of acquiring Delphi Technologies PLC . BorgWarner's stock has run up 37.1% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.42% has advanced 11.9%.

/zigman2/quotes/201434123/composite
US : U.S.: NYSE
$ 48.90
+1.20 +2.52%
Volume: 1.34M
July 29, 2021 4:00p
P/E Ratio
26.71
Dividend Yield
1.39%
Market Cap
$11.44 billion
Rev. per Employee
$204,527
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
219,500
-2,500 -1.13%
Volume: 665,572
July 30, 2021 2:57p
P/E Ratio
24.96
Dividend Yield
1.82%
Market Cap
₩50984.42 billion
Rev. per Employee
₩1.45B
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,419.15
+18.51 +0.42%
Volume: 2.01B
July 29, 2021 5:13p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.