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New CEO of Fortune 500 auto parts supplier BorgWarner just pulled the plug on its once-promising EV charging business
fortune.com/2025/05/09/ev-charging-business-sold-fortune-500-auto-parts-supplier-borgwarner
In office since February, Joe Fadool unwinds one of his predecessor's strategic bets, arguing BorgWarner cannot scale the business under the current conditions in order to meet its minimum 15% ROIC target. Closing down the operations this quarter will save it a projected $45 million in…
This story appeared on fortune.com, 2025-05-09 07:26:56.