#6 - BorgWarner (NYSE:BWA)
Another way to invest in the EV industry is through a company like BorgWarner (NYSE:BWA). The company has been a key parts supplier to the automotive industry. In 2021, BorgWarner generated $350 million in the EV sector. And the company expects that number to grow rapidly.
By 2025, they are forecasting one in four dollars of revenue, equal to $4.5 billion will come from the EV sector. If analyst estimates are accurate, that will boost earnings by double-digits over the next five years. And by 2030, BorgWarner expects that nearly 50% of its sales will be to the EV industry.
In preparation for that, the company recently committed to invest $500 million in Wolfspeed Inc. – a semiconductor makes that will be a vital link in the company’s supply chain which spans 93 facilities in 22 countries.
BWA stock currently trades at a P/E ratio of 12.18%.
About BorgWarner
BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.
Read More - Current Price
- $34.12
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $41.21 (20.8% Upside)
