- BorgWarner Inc (NYSE:BWA) has invested an undisclosed sum in CelLink Corporation, which develops large, high-conductance flexible circuits for the automotive and energy storage industries.
- BorgWarner became an investor of the San Carlos, California-based CelLink on June 11, 2021.
- The Series C equity investment complements BorgWarner’s Charging Forward electrification strategy, with 45% of its total sales generated from EV technology in 2030.
- BorgWarner held $1.5 billion in cash and equivalents as of June 30, 2021.
- Price Action: BWA shares are trading lower by 0.37% at $45.44 on the last check Monday.
Citigroup Downgrades Meritor to Neutral, Raises Price Target to $36.5
Citigroup analyst Itay Michaeli downgrades Meritor (NYSE:MTOR) from Buy to Neutral and raises the price target from $34 to $36.5.
