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Borg Warner sees hybrid, growth of electric car parts despite the uncertainty U.
TOKYO U supplier Borg Warner said Friday he expects to see sales growth for its global hybrid electric vehicle parts and, as a US review of threat fuel economy standards to slow down the improvement of emissions in No. 2 auto market in the world.
U of demand for hybrid and electric cars could take a hit if President Donald Trump decides to roll back strict standards for energy efficiency set by former President Barack Obama late last year.
Borg Warner CEO James Verrier told Reuters a drop in demand of U would be more than offset by market growth in China and Europe, where they continue to tighten emission standards.
We believe it will continue to be a strong increase in standards of fuel economy issues, told Reuters in an interview Verrier during a visit to Japan to meet with clients, including Toyota Motor Corp. .
What this means for us is that our business nothing has really changed, it is business as usual, and this is what we see with automakers.
Borg Warner, which has the Volkswagen Group, Ford Motor Co and most major global automakers as customers, plans to increase revenues hybrids and electric vehicles parts about 16 percent of total revenue in 2023 of approximately 1 percent currently.
As our customers look what fuels regulations may be in China compared to the United States compared to Europe, we can help them understand the best combination of propulsion technology they may have to meet each region said Verrier.
The company has been expanding in parts of hybrid and electric cars, including transmissions and drive modules for electric cars and turbochargers and clutches for hybrids.
Most of the demand for parts of electric vehicles coming from Chinese automakers including Geely Automobile Holdings and Great Wall Motor Co he said.
Although progress towards greener cars may hang in the US Beijing has proposed 8 requiring percent of automakers sales as rechargeable electric or hybrid vehicles battery in 2018 The target rises to 10 percent in 2019 and 12 percent in 2020.
Borg Warner sees the growth of hybrid electric car parts despite U, Borg Warner, sees, hybrid.