BorgWarner completes acquisition of Eldor eMobility division
US-based BorgWarner has formally purchased the Electric Hybrid Systems (EHS) business segment of Italy's Eldor Corporation.
BorgWarner and Eldor confirmed in the summer that they had entered into a Share Purchase Agreement under which BorgWarner agreed to acquire the EHS division for EUR 75 million. Eldor’s EHS segment includes on-board chargers (OBCs), DC/DC converters, and integrated high voltage boxes.
BorgWarner believes the acquisition will expand its ePropulsion portfolio, especially as it relates to expansion in high-voltage power electronics beyond the inverter. It expects the business to generate EUR 25 million of revenue for the full year 2023, and contribute to overall revenue of EUR 250 million in 2027.
“We are pleased to complete the acquisition and welcome Eldor’s talented employees to BorgWarner,” said Frédéric Lissalde, President and CEO of BorgWarner.