BorgWarner Buys Haldex
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“The move is expected to accelerate BorgWarner's growth in the global all-wheel drive (AWD) market as it continues to shift toward front-wheel drive (FWD) based vehicles. The acquisition will add industry leading FWD/AWD technologies, with a strong European customer base, to BorgWarner's existing portfolio of front and rear-wheel drive based products. This enables BorgWarner to provide global customers a broader range of all-wheel drive solutions to meet their vehicle needs,” stated the press release.
So, how much does it cost to make your own 4wd these days? Well, BorgWarner paid around $205 million for the job, with the deal due to be finalised in the first quarter of next year.
"This acquisition supports our continuing strategy to be a global technology leader in providing powertrain solutions," said Timothy M. Manganello, Chairman and CEO, BorgWarner. "With the acquisition of Haldex Traction Systems, BorgWarner has added a strong and well-respected brand of all-wheel drive products that will compliment our current portfolio as well as our customer and geographic mix."
We don’t know about you, but we’re pretty excited when we hear the “Haldex” name. Want a good reason for that? It’s difficult to name just one hyperpowered car that uses a Haldex system to send its power to the road, but we’ll do it: the Lamborghini Sesto Elemento.
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