BorgWarner has announced that it expects to complete the spin-off of Phinia – its fuel systems and aftermarket business - at the end of the day on July 3, 2023, as outlined in Phinia’s final information statement filing with the Securities and Exchange Commission.
Phinia common stock will be traded on the New York Stock Exchange under the ticker symbol PHIN.
The first day of trading is expected to be Wednesday, July 5, 2023.
In December 2022, BorgWarner announced its intent to spin off the Fuel Systems and Aftermarket segments (later named Phinia), consistent with its Charging Forward strategy.
Under the Charging Forward strategy BorgWarner says it is on track to have at least 25% of its revenues from battery electric vehicles (EV) by 2025.
