16 Feb 2022
Suppliers BorgWarner Akasol AG
BorgWarner Completes Acquisition of AKASOL AG
BorgWarner Inc. (NYSE: BWA) today announced that it has completed its acquisition of AKASOL AG. The combination of BorgWarner and AKASOL is expected to significantly strengthen the company’s commercial vehicle and industrial electrification capabilities, which positions the company to capitalize on what it believes to be a fast-growing battery systems market.
“We are pleased to complete our acquisition of AKASOL and welcome AKASOL’s talented employees in Germany and the United States to BorgWarner. AKASOL is an excellent strategic fit as BorgWarner seeks to continue to expand its electrification portfolio and capitalize on the profound industry shift towards electrification.”
AKASOL represents ~20 to ~25% of the inorganic sales underlying Project Charging Forward, contributing ~$600 million in expected electric vehicle revenue by 2025. Project Charging Forward was announced in March 2021 and aims to grow the company’s revenue from electric vehicles to ~45% of total revenue by 2030.
The completion of the merger squeeze-out was the final step to achieve full control and ownership of AKASOL. At completion of the transaction, the shares of all minority shareholders were automatically transferred to ABBA BidCo AG by operation of law. At the same time, AKASOL AG has been merged into ABBA BidCo AG and AKASOL common stock will cease to be traded on the relevant Stock Exchanges. Sven Schulz, the former CEO of AKASOL, will continue in a consulting role with BorgWarner through the second quarter of the year.
This article was originally published by BorgWarner Inc..
AKASOL AG now operates as BorgWarner Akasol AG.
Metroline has ordered 39 zero-emission electric buses from Wrightbus to operate across London and Hertfordshire.
Elgar Coaches has improved its workshop facilities with the purchase of mobile column lifts from experts in workshop equipment, Totalkare.
Karsan has signed a MoU with CREDO GROUP's SCHACMINDO to explore the future electrification of Indonesia's public transport network.
Switch Mobility has partnered with JSW to provide 71 electric buses that will transport employees in India.
The Mayor of London, Sadiq Khan, has announced significant expansion plans for strengthening the bus network in outer London.
Irizar e-mobility will supply Polish operator, MPK Kraków with four zero-emission electric buses to operate in Kraków, Poland.
Métropole Rouen Normandie has confirmed the option for 76 Ebusco 3.0 18-metre electric buses to operate on BRT routes in Rouen, France.
Southern Teton Area Rapid Transit (START) picks Equans, Masabi and Transit App to deliver new era of intelligent travel using MaaS.
Nestrans, Aberdeen City Council, First Bus and Stagecoach are developing plans for a bus rapid transit (BRT) system in Aberdeen, Scotland.
Transport for London (TfL) has secured additional funding from the Mayor, enabling it to reassess substantial cuts to the London bus network.
UK coach operator, National Express is trialling mirrorless coaches to enhance the safety of its services.
Flix has signed a MoU and entered a long-term partnership with Shell to increase the use of alternative fuels on FlixBus coaches.
The city of Łódź has contracted Solaris to supply eight Urbino 18 articulated electric buses and the corresponding charging infrastructure.
The EU-funded ULTIMO project has brought Padam Mobility on board as Technology Partner for new AV projects.
The first of TransLink’s 15 new electric buses has arrived in Metro Vancouver to undergo testing by Nova Bus and Coast Mountain Bus Company.
Following its presentation at InnoTrans 2022, Prague will be the first city to test Škoda's new H’CITY 12 hydrogen model.
Ebusco has received an order to supply 31 Ebusco 3.0 13.5-metre electric buses for Dutch public transport operator, EBS.
Masabi has appointed Ben Whitaker as Chief Evangelist to drive its Fare-Payments-as-a-Service revolution in the transit industry.
Totalkare tells you everything you need to know about induction heating, and how it can make your workshop a safer place.
MARTA Board of Directors has updated the Locally Preferred Alternative (LPA) for State Route 54 in Clayton County to bus rapid transit (BRT).
Nobina Fleet Norge has ordered 64 low-floor BYD electric buses to be delivered to Nedre Glomma, Norway in Q2 2023.
HESS has received a contract from VBZ to supply 26 battery-powered trolleybuses for use in Zurich, Switzerland.
50 National Express electric double-decker buses have entered service in Coventry, which aims to become the UK's first all-electric bus city.
The new VTC 7260-xC4 from NEXCOM is an in-vehicle AI-aided telematics computer designed with Intel 11th Gen.
Public transport operator, Nobina has ordered four Sigma 7 electric buses from Mellor for use in Gothenburg, Sweden.
Masabi celebrates ten years of fare payment innovation with its Justride mobility platform, reflecting on some successes along the way.
Red Sea Global (RSG) has signed a purchase agreement for a fleet of electric buses for use on the northwest coast of Saudi Arabia.
BYD has delivered its third K9MD battery-electric bus to the San Francisco Muni Transit Association (SFMTA).
The MTA has accepted a grant from the New York State Energy Research and Development Authority (NYSERDA) to deploy two hydrogen buses.
Flowbird has developed a unique ‘open ticket’ mobile platform that delivers a ‘one-app, one-account’ environment.
The new VTC 7260-x from NEXCOM is a fanless in-vehicle AI-aided telematics computer designed with Intel 11th Gen.
The NYC Department of Transportation (NYC DOT) has commenced work on new bus-priority lanes along Northern Boulevard in Queens, New York.
Totalkare puts its heavy-duty fixed lifts against each other to give you a comparison on what each one can do, and where they work best.
RFTA is excited to announce the launch of the RFTA Tickets app, a mobile fare payment system powered by Masabi's Justride platform
Ebusco has signed a new contract with Svealandstrafiken to manufacture 13 18-metre Ebusco 3.0 buses for Örebro Län, Sweden.
WeGo Public Transit has celebrated the groundbreaking of the North Nashville Transit Center in Nashville, Tennessee.
The Ohio-Kentucky-Indiana Regional Council has awarded Cincinnati Metro 13.4m USD for electric buses and to modernise its Bond Hill facility.
Alexander Dennis has received the UK bus industry’s largest order since 2019, with a contract to supply 200 Enviro400 buses for Stagecoach.
Milwaukee County Transit System has unveiled the first electric bus that will operate on its new MCTS CONNECT Bus Rapid Transit (BRT) route.
Bledsystem's "Eco-Driving for Bus Fleets" webinar will explain how the company is helping bus operators reduce consumption and accident rate.
Grammer do Brazil will return to Fenatran, presenting two of its current product highlights, the MSG 90.7 and the Cinema Seat.
Ohio State University will establish and operate a new testing centre for zero and and low-exhaust-emission public transport buses.
New York's MTA has selected The Mobility House to deploy its smart charging and energy management solution, ChargePilot, for NYCT buses.
FAMUR Group has acquired the majority share in leading Polish battery systems manufacturer, Impact Clean Power Technology.
Totalkare provides a quick rundown of what you’ll find on the best brake testers and how these features can boost productivity.
NJ TRANSIT and NJTPA are advancing progress on 7 projects that will improve bus services in New Jersey with 43.6 million USD in funding.
City Sightseeing Glasgow is converting its entire fleet of open top vehicles to electric buses supplied by Wrightbus.
GILLIG has announced that 45 transit agencies across the US are investing recent federal awards in its clean-energy buses.
Construction is now underway on upgrading the Phibbs Transit Exchange in North Vancouver to increase capacity for the city's bus services.
The Pie-IX Bus Rapid Transit (BRT) service has commenced operations from Laval to Pierre-De Coubertin Avenue in Montréal, Canada.
BYD has sold a further 3 electric buses to Columbia, Missouri, which has a population of 125,000 and is home to the University of Missouri.
Lion Electric has produced its first 'Made in America' electric LionC school bus in its US factory in Joliet, Illinois.
Imagry has been given permission by the Israel Innovation Authority to fit its 'mapless' driving software on public buses in Nahariya, Israel.
Translink has completed a significant milestone in the rollout of a national account-based ticketing (ABT) system covering Northern Ireland.
Totalkare walks you through some of the smallest workshop equipment that can save you the most money on a minuscule budget.
A new DRT service, ‘The Robin’, offers rural residents in the Forest of Dean and Cotswolds new access to public transport.
Wiener Linien has ordered 60 Mercedes-Benz eCitaro electric buses to operate in the Austrian metropolis of Vienna.
Solaris has received orders from AVM Venezia and ACTV SPA Venezia to deliver four Urbino 12 hydrogen buses to Venice, Italy.
Swiftly explains how planners can use accurate speed data to make the most efficient and impactful investments in their systems.
Masats hosted the Quo Vadis CBM workshop on 20 October and presented the work it's doing in terms of bus door and ramp predictive maintenance.
Handheld's all-new Algiz 10XR is an ultra-rugged tablet that combines durability with robust field performance, 5G and future-proof features.
Public transport operator, Nobina has ordered 4 VDL Citea LE-122 electric buses that will enter service with Västtrafik in Ale, Sweden.
Irizar e-mobility presented its first right-hand drive Irizar 'ie tram' bus for Go Ahead London at Euro Bus Expo 2022.
NAVINEO and Bledsystem have signed an agreement for the exclusive introduction of Bledsystem to all Navineo operators in France.
SFMTA has awarded the predevelopment agreement (PDA) for the Potrero Yard Modernization Project to Potrero Neighborhood Collective (PNC).
MAN Truck & Bus has announced its sustainability strategy for battery life cycle extension and recycling for its electric city buses.
UK bus manufacturer, Mellor has presented its new electric Sigma 8 bus for the first time at EuroBus Expo in Birmingham.
Equipmake is showcasing a zero-emission version of the New Routemaster double-decker London bus at Euro Bus Expo.
MCDOT has opened the Brookville Smart Energy Depot, marking the completion of the largest solar bus charging project in the US.
Miejskie Przedsiębiorstwo Komunikacyjne (MPK) has contracted Solaris to supply 18 articulated Urbino 18 electric buses in Kraków, Poland.
At Euro Bus Expo, Alexander Dennis has presented its next-generation battery-electric buses, the Enviro400EV and Enviro100EV.
Wrightbus has secured UK Export Finance-backed funding to take its hydrogen-powered double-deck bus to international markets.
Danish bus company, Vikingbus has ordered 31 Mercedes-Benz eCitaro electric buses for use in Køge, Denmark.
Sqills is very proud to be a Gold Sponsor at this year’s World Passenger Festival at the Beurs van Berlage in Amsterdam.
Totalkare has been graded as ‘Very Good’ to work for by Best Companies, formerly known as the Sunday Times Top 100 Businesses.
Ridango has signed a contract with Vilnius public transport authority to upgrade its public transport ticketing system.
Padam Mobility looks back at eight years of company history and casts its eyes to the future for its shared mobility services.
Transport operator, Translink has contracted Wrightbus to supply 100 new battery electric buses in Northern Ireland.
Poland: Solaris Bus & Coach has received an order for 25 Urbino 12 hydrogen buses from public transport operator MPK Poznań.
London: new opportunity charging facilities have been installed at the Bexleyheath garage for use by the electric buses on route 132.
The 270 million GBP Connecting Leeds investment in improving transport and travel around the city has been completed.
Skånetrafiken has partnered with Swiftly to execute a bold vision for expanding public transport in Southern Sweden.
Australia: Ten new Kinetic battery-electric buses have entered passenger service on Queensland's Gold Coast.
SABA’s MS polymer adhesives and sealants can be applied in a sustainable way within the transport and construction industries.
Bus manufacturer Yutong has delivered 20 further buses to Mauritius, following a previous delivery of 100 buses to the island nation.
Masabi explains how contactless ticketing, often referred to as ‘Open Payments’ or ‘Open Loop Payments’, is revolutionising fare collection.
Tata Motors will supply 200 electric buses to the cities of Jammu and Srinagar as part of the Jammu Smart City project.
Agrale has launched an electric bus in Buenos Aires, Argentina in collaboration with electrification specialist, Equipmake.
Arriva has contracted VDL Bus & Coach to supply 64 electric Citeas to expand its fleet in the North Brabant East concession, the Netherlands.
Solaris has announced that it will supply eight electric buses to public transport operator MZK in Opole, Poland.
Masabi and TransLoc partner to deliver the next generation of intelligent travel with account-based ticketing and real-time trip planning.
The Swiftly team is thrilled to be attending four transport conferences in Europe before the end of the year.
Qatar's Minister of Transport has inaugurated the Lusail Bus Depot, which has broken the record for the world’s largest electric bus depot.
Nova Bus has been awarded a contract to supply five LFSe+ 40-foot long-range battery electric buses to the New York State MTA.
The East Burnside Rose Lane project will improve speed and reliability for bus services on TriMet lines 12, 19, and 20 in Portland, Oregon.
Busworld Southeast Asia was held from 5 to 7 October 2022 in Indonesia. Here are some of the buses and coaches on show during the event.
Flowbird board member Bertrand Barthelemy has stepped back from his CEO role, announcing his successor in the process.
Leading supplier of driver assistance technology, Brigade Electronics, discusses the new United Nations Vehicle Regulation R159.
Masabi and NEORide have announced the latest expansion of EZfare, the leading fare payment platform, into West Virginia.
Use the form opposite to get in touch with BorgWarner Akasol AG directly to discuss any requirements you might have.