BorgWarner To Supply SiC Inverters To European OEM's Battery Electric Vehicles - BorgWarner (NYSE:BWA)

BorgWarner Inc BWA stated that its 400V Silicon Carbide (SiC) inverter had been selected to help power various models of a European OEM's battery electric vehicles. The financial details of the arrangement were not disclosed.
Vehicle production with BorgWarner's SiC inverter is slated for 2023.
The inverter features dual-sided cooled power switches, providing a breakthrough in vehicle electrification and offering OEMs superior operational characteristics, including enhanced driving performance and a longer range.
BorgWarner noted that the new SiC inverter design builds on its cooling technology to reduce the semi-conductor area and SiC material, offering a lighter and smaller system at a lower cost than other silicon-based inverters.
Price Action: BWA shares are trading higher by 3.03% at $46.43 on the last check Monday.