BorgWarner + Hubei Chasing Ri join forces to compete in the new energy spare parts track
Recently, BorgWarner announced the formal acquisition of the charging and electrification business of Hubei Zhuiri Electric. This is another major acquisition following the acquisition of the electric vehicle solutions, smart grid and smart energy businesses of Hubei Zhuishi Electric Co., Ltd. in September last year. Global capabilities in chain, manufacturing and sales.
Looking back at the development of the auto parts industry in the past ten years, we will find that despite several rounds of financial crises in the early 21st century, the development of the entire industry is still relatively stable, and the technological development has been fruitful. in an upward trend. But today, more than ten years later, the wave of electrification has caused the entire industry to undergo profound changes, and the automotive industry can be described as fission. Acquisitions in the auto parts industry have also become the new normal. In recent years, in order to seize the opportunity in the process of electrification transformation and consolidate its leading position in the spare parts industry, BorgWarner also frequently carried out a series of acquisitions last year to better realize the strategy of “gathering momentum and moving forward” Target. In terms of electric drive products, it has completed the acquisition of Songzheng’s light vehicle motor business; in the field of battery packs, it has acquired battery system supplier AKASOL AG; in the field of charging piles, it has acquired Rhombus; in terms of thermal management technology for special power electronics, it has acquired With Drivetek AG, a series of acquisitions are aimed at consolidating BorgWarner’s technical strength and leading the industry to complete the electrification transformation.
The President and CEO of BorgWarner said that he is very pleased to complete the acquisition of the charging and electrification business with Hubei Zhuishi Electric Co., Ltd. (SSE). The future of the automotive industry has become blurred and unpredictable. As an industry leader, it is necessary to act quickly to consolidate the existing dominant position. Optimizing the structure system, management process, and breaking through the traditional thinking mode are the direction of BorgWarner’s efforts.
It is reported that Chasing Sun Electric was established in 1997 and is headquartered in Xiangyang City, Hubei Province, China, the place where “Wolong comes out of the mountain”. Chasing Sun Electric is committed to using new energy and information technology to create a collaborative ecosystem of smart energy and green circular economy, contributing wisdom and strength to help “carbon neutrality” and sustainable development. The core business includes new energy vehicle charging and power supply systems , Power grid power quality optimization, photovoltaic power generation/energy storage and multi-energy complementarity, covering the entire power industry chain, can provide global energy, power users and new energy vehicles with optimized system solutions, products and services.
In BorgWarner’s view, because the spare parts industry has a high degree of professionalism and certain industry entry barriers, there are not many entrants at present, and most start-ups are concentrated in emerging fields such as autonomous driving, intelligent network connection, and new energy. It has not yet posed too much challenge to core component companies. In recent years, judging from the development trajectory of mainstream parts and components companies, many challenges first come from within. Can the company clarify its strategy and keep up with the pace of technological innovation? Indomitable resilience to deal with challenges from all sides and so on. For BorgWarner, the release of the “gathering momentum and moving forward” strategy has pointed out the direction for the company, and a series of smooth acquisitions are also further expanding the company’s territory in the field of electrification. BorgWarner, with a long-term strategic vision, will set sail and sail to the sea of stars.
