US based BorgWarner, a $ 7.4 billion global
leader in powertrain solutions is extremely optimistic about new business in
the Asian region, which would be primarily driven by China and other nations.
In his latest annual report, James Verrier, President and Chief Executive
Officer of BorgWarner has stated that “In Asia, our new business sales are
expected to account for approximately 47% of net new business by the end of the
period (2014), primarily driven by China, the world’s fastest growing market.”
The European market accounts for
approximately 27pc of the company’s expected new business. He stated that while
Europe remains an important market for BorgWarner, the adoption of its advanced
powertrain technology in other parts of the world is expected to outpace Europe
over the next few years.
Verrier said his company continued to make
strategic investments in its businesses across the globe in 2013. This included
the expansion of its already strong position in Europe with new facilities in
Portugal and Poland, driven by increasing demand for environmentally friendly
and fuel-efficient technologies, such as its EGR product lines. “We also
expanded our presence in emerging markets, which included a new plant in India,
as well as a new production facility and engineering centre in Brazil, which
was driven by new legislation to improve fuel economy and reduce emissions in
this rapidly growing South American market,” he noted.
According to Verrier, BorgWarner launched
several high profile programmes in 2013 that included EGR coolers for Renault’s
1.6-litre diesel engine, available on the European Scénic and Mégane as well as
Nissan’s crossover Qashqai; DualTronic control modules and clutch modules for SAIC Motor Corporation’s new six-speed wet
dual-clutch transmission in China; and the world’s first electronic limited
slip differential for a front-wheel drive vehicle on the 2013 Volkswagen Golf
GTI with Performance Pack.
”Our backlog’s regional mix is well-aligned with
global auto trends and also reflects the
shift in BorgWarner’s manufacturing footprint to lower cost economies. The top
five customers in the backlog are Ford, General Motors, Great Wall, Hyundai/Kia
and Volkswagen, a diverse group from a geographic perspective. Eight of our top
25 customers are Chinese OEMs. BorgWarner is also diversifying from a market
perspective, with five of our top 25 customers in the commercial vehicle market,” he informed.
BorgWarner focuses on developing leading
powertrain technologies that improve fuel economy, emissions and performance. Its
facilities are located across the globe to provide local support for its diverse
customer base. It operates out of 56 locations spread across 19 countries.
of the report in April 2014 issue of Motown India magazine