· BorgWarner gains opportunities to engage and invest in global start-ups, revolutionize onshore transportation systems · This investment will support BorgWarner's strategic product group · Autotech Ventures is a venture capital fund to promote financial investors , the future development of transportation systems between corporate strategic investors and start-ups, Hong Kong, April 5, 2017 – a global technology leader in clean and efficient drive system solutions for internal combustion engines, hybrids and electric vehicles, BorgWarner The investment of $10 million in Autotech Ventures has allowed the company to embark on a new milestone.
Through this new investment, BorgWarner Chief Strategy Officer Brady Ericson expects the project to create opportunities for BorgWarner's technology advancement and beyond the current mobile technology portfolio.
"We will continue to focus on developing industry-leading advancement technologies and will connect our core product strengths with the world's new technologies and services through this collaboration." Mr. Brady Ericson said: "With all recent investment projects. This will be able to promote our product group strategy to support a clean, efficient and environmentally friendly world."
The biggest incentive for BorgWarner to invest in Autotech is that the funds will help suppliers easily respond to the ever-changing development needs of the industry. With the evolution of electric vehicles and autonomous driving, BorgWarner's latest business developments will further establish its leading position in the future automotive industry.
"In the past year and a half, the company has taken a big step forward in the evolution of its milestone." BorgWarner executive director James Verrier said: "In 2015, we successfully acquired the leader of the electric parts manufacturer Remy, will Commercialization of new technologies, the introduction of our eBooster electric compressors and eGear Drive conveyors will help us achieve future solutions for clean and efficient drive systems."
The development of the company's technology product group is changing with each passing day. BorgWarner has also changed its needs for employees. Since 2013, the number of internal power electronics engineering teams has tripled; and by 2021, the company plans to double its staff.
After investing in Autotech, BorgWarner will be able to review hundreds of start-ups that develop future land transportation systems. In addition to being able to get BorgWarner's investment through Attach, auto suppliers can also lend a helping hand to these start-ups to explore investment, cooperation, and support opportunities. BorgWarner Chief Strategy Officer Brady Ericson anticipates that this will be an important development opportunity for BorgWarner, extending the work to start-ups, suppliers, partners, buyers or investors.
Mr. Brady Ericson continued: “The priorities in the industry are constantly changing. To succeed, we must keep abreast of the pulse of product trends and work with innovative companies around the world.â€
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