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BorgWarner expects EVs to account for almost 50% of revenue by 2030

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The CEO of auto supplier BorgWarner told CNBC on Friday the company hopes to have nearly 50% of its revenues be tied to electric vehicles within the next decade.

Currently, less than 3% of the Michigan-based firm’s sales are related to EVs.

“Our assumption is that 30% of the vehicle will be battery electric in 2030. It’s already kind of a bullish assumption. Our assumption is that we’ll be at 45% of our revenue,” CEO Frederic Lissalde said in an interview with Jim Cramer on “Mad Money.”

BorgWarner’s push to grow its EV business is in line with the moves made across the automotive industry. A range of electric-vehicle start-ups have hit the public markets in recent months, and established…



Source cnbc.com

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