Can a 100-year-old company compete with the high-speed changes going on in the auto industry? “Absolutely,” says BorgWarner’s CEO.
James Verrier tells Fortune’s Susie Gharib that as automakers move to electric vehicles, hybrids, and self-driving cars, they will need “new forms of propulsion, new forms of powertrains, and BorgWarner will be right at the center of it.”
The Michigan-based BorgWarner (”BWA”) is the nation’s leading supplier of powertrains and supplies nearly every automaker, including Ford Motor (F), General Motors (GM), Fiat Chrysler (FCAU), and Toyota (TM). One reason for Verrier’s confidence about the future comes from BorgWarner’s recent acquisition of Remy International, which is a key manufacturer of hybrid motors and electrification technology.
Verrier says he’s open to collaborating with Silicon Valley disruptors like Apple (”AAPL”), Google (”GOOG”), and Microsoft (”MSFT”) to develop breakthrough innovations for the auto industry. “The companies that can harness that collaboration, that synergy, and that partnership,” he says, “are the ones that are going to win.”