Brief: Borgwarner To Invest $500 Million In Wolfspeed For Silicon Carbide Devices

BorgWarner

16/11/2022 12:34

Nov 16 (Reuters) - Borgwarner Inc  BWA.N :
    * BORGWARNER TO INVEST $500 MILLION IN WOLFSPEED, SECURING
UP TO
$650 MILLION IN ANNUAL CAPACITY FOR SILICON CARBIDE DEVICES
    * BORGWARNER INC - WOLFSPEED AND BORGWARNER ARE ALSO
EXPLORING A
DEEPER COLLABORATION FOR PURPOSE OF ACCELERATING TECHNOLOGY
DEVELOPMENT
    * BORGWARNER INC - BELIEVES IT IS ALREADY ON TRACK TO
ACHIEVE
APPROXIMATELY $4 BILLION OF ELECTRIC VEHICLE REVENUE BY 2025
    * BORGWARNER- UNDER DEAL BETWEEN CO AND WOLFSPEED, CO TO BE
ENTITLED TO PURCHASE UP TO $650 MILLION OF DEVICES ANNUALLY AS
BORGWARNER REQUIREMENTS INCREASE
    * BORGWARNER INC - BORGWARNER'S CHARGING FORWARD STRATEGY
TARGETS
$4.5 BILLION OF ELECTRIC VEHICLE REVENUE FOR 2025

Source text for Eikon:  ID:nPn22L4yLa 
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