BorgWarner Acquires Rhombus Energy Solutions

BorgWarner Acquires Rhombus Energy Solutions

The acquisition will support expansion in vehicle-to-grid (V2G) DC fast charging, says the company.

BorgWarner has acquired Rhombus Energy Solutions. 

Headquartered in San Diego, California, Rhombus offers V2G and Underwriters Laboratory-certified charging. Rhombus supplies its patented technology to EV OEMs, including Proterra, and charging and grid service providers.

The transaction has an enterprise value of up to $185 million, which is being funded primarily with cash balances. Approximately $130 million was delivered at closing and up to $55 million could be paid in the form of contingent payments over the next three years.

“The technology that Rhombus brings expands BorgWarner’s electric vehicle portfolio in North America and complements our existing European charging business. This transaction supports our Charging Forward strategy and strengthens our electric vehicle positioning as we look to power the entire propulsion system from grid to wheels,” said Frédéric Lissalde, president and CEO of BorgWarner. “As a supplier to the automotive and commercial vehicle markets, we are not only delivering innovative technology for electric drivetrains, but we are also focused on supporting certain key elements of the infrastructure for electric mobility, including charging.”

You May Also Like

Anchor Adds More Acura and Honda Coverage

The 10 new part numbers cover more than 2,191,530 applications for model years 2016-2024.

Anchor Adds More Acura and Honda Coverage

Aftermarket engine and transmission mount supplier Anchor Industries announced additional Honda and Acura coverage. The 10 new part numbers in the latest release are in stock and available for immediate delivery.

The new products cover more than 2,191,530 applications for model years 2016-2024.

For more information, contact your sales representative, or call the Anchor customer service department at 888-444-4616.

Dayco Adds Almost 30 Part Numbers in March

The 29 new part numbers will be available by the end of March for distributors interested in adding to their product coverage.

Dayco Adds Almost 30 Part Numbers to its Portfolio
Bendix Releases Technical Materials for ADAS Support

They are designed to help technicians properly set up, inspect and diagnose several components integrated with ADAS.

Bendix Releases New Technical Materials Supporting ADAS and Connected Components
Dana Participating in Easter Jeep Safari

The event will take place in Moab, Utah, March 23-31.

Dana to Participate in Easter Jeep Safari 2024
ZF Aftermarket Releases 80 New Parts

The latest additions expand coverage to more than 5 million vehicles in operation.

ZF Aftermarket Releases 80 New Parts

Other Posts

HDA Truck Pride Member Southside Trailer Service Expands

The company acquired PBS Brake & Supply in Syracuse, NY.

HDA Truck Pride Member Southside Trailer Service Expands
Branford Public Schools Award $60M Transportation Contract to Zum

Within five years, Zum will transition Branford to a 100% electric school bus fleet, the first in Connecticut.

Branford Public Schools Award $60M Transportation Contract to Zum
Can You Jumpstart an EV?

First thing’s first: Find the LV battery, which could be anywhere in the vehicle.

Fisker Ocean Wins iF DESIGN AWARD 2024 for Best Electric SUV

The iF DESIGN AWARD is awarded annually by iF International Forum Design GmbH, the world’s oldest independent design organization.

Fisker Ocean Wins iF DESIGN AWARD 2024 for Best Electric SUV