BorgWarner completes acquisition of electric hybrid systems business
14 December 2023
BorgWarner announced it has completed the acquisition of the Electric Hybrid Systems (EHS) business segment of Eldor Corp. S.p.A. The companies had previously announced a Share Purchase Agreement in June 2023 for €75 million at closing with a potential additional amount due subject to an earnout.
Headquartered in Italy, Eldor’s EHS segment includes onboard chargers, DC/DC converters and integrated high-voltage boxes, all of which will complement BorgWarner’s existing product portfolio. The acquisition is expected to enhance BorgWarner’s capabilities in engineering compact and efficient 400V and 800V onboard chargers that are compatible with the variety of regional grid configurations found globally, the company stated, while bringing high-frequency DC/DC converter technology to the portfolio.
BorgWarner expects the EHS business to generate €25 million of revenue for the full year 2023.
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