BorgWarner has formed a joint venture with Romeo Power Technology, with shares split 60/40.
"This joint venture will not only complement our strong existing propulsion portfolio, but we expect it to fill a gap in the marketplace between battery cell manufacturers and hybrid and electric vehicle customers," said Joel Wiegert, President and General Manager BorgWarner Morse Systems.
BorgWarner believes bringing together its customer, product launch and quality approach with Romeo's battery module and pack technology will meet a wide range of customers' battery-electric vehicle needs. The battery modules and packs are expected to include intelligent battery management systems with proprietary algorithms for enhanced performance and cycle life, as well as proprietary thermal engineering for active and passive cooling. The addition of battery packs will energise BorgWarner's existing product portfolio for hybrid and electric vehicles that includes electric motors, power electronics, high-voltage battery heaters, eAxle iDMs, onboard battery chargers and much more.
The joint venture will encompass the mobility portion of the battery pack business, initially focused on performance and light vehicles. BorgWarner will also take a 20% equity position in Romeo Power Technology and will fill two seats on its board. The equity investment and the joint venture are expected to close in the second quarter of 2019, subject to the satisfaction of customary closing conditions.
