Auburn Hills-based BorgWarner Inc. has finalized its takeover of Akasol AG, the German maker of lithium-ion batteries that it agreed to acquire in February.BorgWarner became 89 percent owner of Akasol upon the auto supplier's completion of a tender offer for shares of the battery manufacturer,…
Auburn Hills-based BorgWarner Inc. has landed a deal to supply Hyundai Motor Group with its integrated drive module as the supplier looks to grow its electric vehicle platforms business.BorgWarner's new module, iDM146, will power the South Korean automaker's upcoming A-segment electric vehicle with…
BorgWarner donates $1 million to Kettering University to boost diverse co-op students
$100,000 for Kettering to support program
Will focus on Black and Hispanic students
Kettering University via Facebook
Kettering University in Flint
Auburn Hills-based BorgWarner Inc. donated $1.025 million to Kettering University for scholarships aimed at Black and Hispanic students interested in an engineering co-op program with the supplier.
Of the donation, $850,000 goes into the Flint-based private university s endowment fund, with nearly $40,000 earmarked annually for scholarships. Another $75,000 will be used for scholarships in 2021 and 2022 on top of the annual allowance and the remaining $100,000 will be used by Kettering to hire resources, source potential candidates and other investments to support the program.
Auburn Hills-based BorgWarner Inc. has agreed to acquire a German maker of electricification technologies for commercial vehicles in a deal worth more than $880 million.The deal will pay shareholders of Darmstadt, Germany-based Akasol AG 120 euros ($145.60) per share. Holders of 59 percent of…