Parts Stocks Soar 100% in a Year on EV Expectations, Surge 5% Today

BorgWarner Inc. (NYSE: BWA) closed at $67.08 on the New York Stock Exchange on the 21st, up 5.56%, with trading volume of approximately 2.26 million shares. Its market capitalization jumped by about $810 million to roughly $13.7 billion (around KRW 19 trillion) in a single day.

The company recently outperformed market expectations with first-quarter sales growth of around 10% and strengthened its growth story by securing consecutive turbocharger supply contracts with leading European automakers. At the same time, as the stock approached its 52-week high, CEO Joseph Paedool sold shares worth approximately $1.95 million (about KRW 3 billion), reflecting some concerns over valuation.

Headquartered in Michigan, BorgWarner is a global automotive supplier providing mobility technologies from internal-combustion powertrain components to electric-vehicle propulsion and power-electronics solutions. In 2023, it spun off its fuel-systems and aftermarket business as PHINIA and accelerated its “Chasing Forward” strategy, focusing on e-Propulsion and drivetrains.