WASHINGTON (dpa-AFX) - BorgWarner Inc. (BWA), Santroll Electric Auto and Santroll Automotive Components announced that they have signed an Equity Transfer Agreement under which BorgWarner will acquire Santroll Automotive Components, a carve-out of Santroll's eMotor business, for up to 1.4 billion yen, comprised of a closing payment of 1.1 billion yen and an earnout of up to 0.3 billion yen.
Based in Tianjin, China, Santroll designs and manufactures hairpin and concentrated-winding technology eMotors for use in light vehicles.
Frédéric Lissalde, President and CEO of BorgWarner, said: 'Santroll will bring patented eMotor technology that will complement the breadth of our existing eMotor line.'
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