Tier 1 automotive provider BorgWarner has acquired Rhombus Vitality Options.
San Diego-based Rhombus offers EV charging and energy conversion know-how, together with V2G functions. Rhombus provides its patented know-how to EV OEMs, together with Proterra, in addition to charging and grid service suppliers.
The transaction has an enterprise worth of as much as $185 million.
“The know-how that Rhombus brings expands BorgWarner’s electrical automobile portfolio in North America and enhances our current European charging enterprise,” mentioned Frédéric Lissalde, President and CEO of BorgWarner. “This transaction strengthens our electrical automobile positioning as we glance to energy all the propulsion system from grid to wheels. As a provider to the automotive and business automobile markets, we’re not solely delivering modern know-how for electrical drivetrains, however we’re additionally centered on supporting sure key parts of the infrastructure for electrical mobility, together with charging.”
Supply: BorgWarner
