Frederic Lissalde on corporate sponsorship
From We're gearing up for the 2024 INDYCAR season! · · New York Stock Exchange
“I think all the employees at BorgWarner are extremely proud about this trophy and about the partnership with IndyCar. For us this is a sign of teamwork, excellence and courage — attributes we love at BorgWarner: teamwork and winning.”
On , Frederic Lissalde, Former President, Chief Executive Officer & Director at BorgWarner Inc, spoke about corporate sponsorship during We're gearing up for the 2024 INDYCAR season! on New York Stock Exchange.
About Frederic Lissalde
Frederic Lissalde, President and CEO of BorgWarner, has been discussing the company's ongoing transition from a combustion-engine supplier to a provider of electric vehicle (EV) components and systems. Lissalde described the shift as a "natural extension" of work that began in 2015, including acquisitions such as Remy, Delphi Technologies, and Akasol to gain scale in power electronics, software, and battery packs. He stated that BorgWarner aims for 45% of its revenue to be tied to EVs by 2030 and expects to break even in its EV business in 2024. Lissalde also emphasized the company's commitment to carbon neutrality by 2035, calling it "the right thing to do for our business and our people." In addition to electrification, Lissalde has highlighted BorgWarner's continued focus on efficiency in combustion and hybrid powertrains, as well as its partnership with IndyCar. He noted that the company's products contribute to the efficiency of engines across all propulsion typeschers, and expressed pride in the BorgWarner trophy awarded to the Indianapolis 500 winner, calling it a symbol of "teamwork, excellence and courage." During the COVID-19 pandemic, Lissalde discussed the company's restructuring efforts, including consolidating turbo and emissions businesses to generate cost savings, while maintaining R&D investment and managing cash flow.
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