BorgWarner to acquire Santroll's light vehicle eMotor business
BorgWarner has reached an agreement with Santroll Electric Auto and Santroll Automotive Components to acquire Santroll Automotive Components, a carve-out of Santroll’s eMotor business
BorgWarner will pay up to RMB 1.4 billion (EUR 194.5 million) for the eMotor business and the transaction will be funded primarily with existing cash balances, the company states in a press release.
Based in Tianjin, China, Santroll designs and manufactures hairpin and concentrated-winding technology eMotors for use in light vehicles. The company supplies its technology to the Chinese OEM market. The company has nearly 400 full-time employees.
The acquisition is expected to strengthen BorgWarner’s vertical integration, scale, and portfolio breadth in light vehicle e-motors while allowing for increased speed to market. The closing is expected in late first quarter 2022 and is subject to satisfaction of customary closing conditions.
“The eMotor remains an important element of BorgWarner’s electric vehicle growth strategy,” said Frédéric Lissalde, President and CEO of BorgWarner in the press release. “Santroll will bring patented eMotor technology that will complement the breadth of our existing eMotor line. Together, we expect to build a differentiating vertically integrated production capability that creates scale while delivering enhanced solutions to our customers.”