BorgWarner Inc. (BWA - Free Report) has made an announcement that it is tying up with Plug and Play, the Silicon Valley-based accelerator ecosystem for startup companies, and Franklin Venture Partners, a specialized investment team within Franklin Templeton Investments. These partnerships enable the Auburn Hills, MI-based global leader in clean and efficient technology solutions to increase exposure to advanced technologies and speed up innovation in areas of mobility.
Notably, in 2017, BorgWarner invested $10 million in Autotech Ventures to access various global startups dealing with futuristic ground transportation. The present partnerships, with Plug and Play and Franklin Venture Partners, connect BorgWarner with next-generation technology innovators in mobility as well as other industries.
By tying up with Plug and Play ecosystem, the company will not only have access to numerous technology startups but also be able to work with innovative minds that drive these startup companies. On the other hand, the collaboration with Franklin Venture Partners provides BorgWarner with the access to Franklin Venture Partners’ C-level and public policy network, and enhances its ability to join forces with others.
Over the past six months, shares of BorgWarner have underperformed the industry it belongs to. Over this time frame, shares of the company have declined 16.2% while the industry decreased 10.8%.
Zacks Rank & Stocks to Consider
Currently, BorgWarner has a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Geely Automobile Holdings Ltd. (GELYY - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Navistar International Corporation (NAV - Free Report) . While Geely Automobile sports a Zacks Rank #1 (Strong Buy), Allison Transmission and Navistar carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Geely Automobile has an expected long-term growth rate of 11%. Over the past two years, shares of the company have surged 94.6%.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 39%.
Navistar has an expected long-term growth rate of 5%. Over the past six months, shares of the company have risen 9.7%.
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