# BorgWarner acquires Rhombus Energy Solutions for $130M

BorgWarner acquired Rhombus Energy Solutions, a provider of charging solutions in the North American market, for approximately $130 million at closing, with up to $55 million in contingent payments over three years.

- Type: Acquisition
- Announced: 2022-08-03
- Where: San Diego, California, United States
- Value: $130.0M
- Status: completed
- Products: charging solutions
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [BorgWarner](https://endata.com/companies/751.md) (acquirer)
- [Rhombus Energy Solutions](https://endata.com/companies/64533.md) (target)

## Sources

- [borgwarner.com](https://www.borgwarner.com/newsroom/press-releases/2022/08/03/borgwarner-announces-electrification-progress-and-reports-second-quarter-results), 2022-08-03: "BorgWarner announced that the Company has acquired Rhombus Energy Solutions, a provider of charging solutions in the North American market."
- [auto.economictimes.indiatimes.com](https://auto.economictimes.indiatimes.com/news/auto-components/borgwarner-to-buy-rhombus-in-latest-ev-charging-deal/93337709), 2022-08-04: "Auto-parts maker BorgWarner Inc said on Wednesday it would buy electric-vehicle charging provider Rhombus Energy Solutions"
- [smallcaps.com](https://smallcaps.com/borgwarner-adds-growing-ev-portfolio-rhombus-energy-solutions-acquisition/), 2022-08-16: "The technology that Rhombus brings expands BorgWarner's EV portfolio in North America and complements our existing European charging business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.