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The new CEO of Fortune 500 auto parts supplier BorgWarner just pulled the plug on its once-promising EV charging business

Concluding it will not meet the company's minimum return target, execs say closing down the operations this quarter will save a cumulative $45 million in projected operating losses across this year and next.
BorgWarner, a Fortune 500 auto parts supplier, has acquired an electric vehicle (EV) charging business for $25 million, aiming to expand its presence in the growing EV market. The acquisition includes a portfolio of charging solutions and technology that will enhance BorgWarner's existing product lineup, positioning the company to meet the increasing demand for EV charging infrastructure. This strategic move is part of BorgWarner's broader initiative to diversify its offerings and capitalize on the shift towards electric mobility, as the global automotive industry continues to transition away from traditional internal combustion engines.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/09/ev-charging-business-sold-fortune-500-auto-parts-supplier-borgwarner/ ]