BorgWarner announced that it has acquired Rhombus Energy Solutions in line with its growth strategies, with the increasing demand for electric mobility.
Offering innovative products to the global aftermarket automotive market and incorporating Delphi Technologies, BorgWarner has accelerated its growth strategy in this direction with the increasing demand for electric mobility. Taking steps in line with its growth strategy, BorgWarner acquired Rhombus Energy Solutions in this context.
Complementing its European charging infrastructure, the company is adding the North America region to its existing charging operations to accelerate organic growth. This merger stands out as a development that has enabled the software market by supporting the proliferation of vehicle-to-grid (V2G) DC fast charging.
Rhombus offers its patented technology to electric vehicle manufacturers and charging and grid service providers, including Proterra. The acquisition has a transaction value of $185 million, funded primarily by cash. While a payment of approximately 130 million dollars was made with the transfer transaction, another 3 million dollars will be paid in the next 55 years.
“We support the basic elements of electric transport infrastructure”
“The technology provided by Rhombus expands BorgWarner's electric vehicle solutions in North America and complements its existing European charging operations,” said Frédéric Lissalde, BorgWarner President and CEO. This operation supports our 'charge forward' strategy and strengthens our electric vehicle positioning by feeding the entire drive system from the grid to the wheel.” used the phrase.
“As a leading supplier to the automotive and commercial vehicle markets, we not only offer innovative technologies for electric powertrains, but also zam“We are currently focusing on supporting key elements of electric transport infrastructure, including charging.”
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