BorgWarner Acquires Electric Hybrid Systems Business
BorgWarner has entered into an agreement to acquire Eldor Corporation’s electric hybrid systems segment for $83 million, the companies announced.
Headquartered in Italy, Eldor’s EHS segment includes on-board chargers (OBCs), DC/DC converters, and integrated high voltage boxes, the company said. The acquisition is expected to enhance BorgWarner’s capabilities in engineering 400V and 800V on-board chargers while also adding high-frequency DC/DC converter technology to its product portfolio, BorgWarner representatives said.
The transaction is expected to close in the third quarter of 2023.
“Eldor’s technologies are a great complement to BorgWarner’s ePropulsion portfolio, particularly as it relates to expanding in high-voltage power electronics beyond the inverter,” said Frédéric Lissalde, president and CEO of BorgWarner. “As we continue with our Charging Forward M&A strategy, we look forward to welcoming Eldor’s talented team to BorgWarner later this year.”
“BorgWarner represents the best opportunity for the Eldor EHS team to grow further from both a professional and managerial standpoint at a global scale,” said Pasquale Forte, president of Eldor Corporation. “I am proud that the value we have built together so far has been well recognized and I thank them for the passion, dedication, and skills they have demonstrated over the years.”
