Benzinga | Aug 16, 2021 01:06PM EDT

BorgWarner Invests In CelLink To Expand Electrification Efforts; Terms Not Disclosed

* 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.