BorgWarner Inc. (NYSE: BWA), an Auburn Hills, Mich.-based provider of clean and efficient technology solutions for combustion, hybrid and electric vehicles, made a $10m investment in Autotech Ventures.
Autotech Ventures is a Palo Alto, CA-based venture capital fund that facilitates partnerships among financial investors, strategic corporate investors and startups focused on the future of transportation. The commitment will help BorgWarner adapt to the changing demands of the industry and new trends including electrification and autonomy. In addition to the companies it expects to invest in with Autotech Ventures, the company plans to independently invest, collaborate and support a handful of startups.
Led by President and CEO James Verrier and CSOBrady Ericson, BorgWarner is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 62 locations in 17 countries, the company employs approximately 27,000 worldwide.