Auto-parts maker BorgWarner to buy Rhombus in latest EV charging deal
Auto-parts maker BorgWarner Inc said that it would buy electric-vehicle charging provider Rhombus Energy Solutions, the latest deal in the sector as sales of eco-friendly vehicles boom.
The enterprise value of the deal can go up to $185 million, the company said, adding it would help increase the company’s charging presence in North America and expand in Europe.
BorgWarner, which supplies parts to car makers including General Motors Co. and Ford Motor Co., has targeted more revenue from electric vehicles by 2030.
