BORGWARD agrees strategic partnership with engineering services company FEV
BORGWARD Group AG has agreed a long-term strategic partnership with FEV GmbH, a leading international engineering services company specialising in the design and development of conventional and alternative drives. "We are delighted to be able to intensify our long-standing partnership with FEV. The current cooperation marks a major step on our way to turning BORGWARD once again into a technological leader and trendsetter," said Ulrich Walker, CEO of BORGWARD Group AG, on Monday at the signing of the contract in Aachen.
In accordance with this partnership, the Stuttgart automobile manufacturer is to establish the "BORGWARD Group AG Engine Technology Research Institute in cooperation with FEV" in Aachen. The purpose of this institute will be to develop new and alternative drive technologies and platforms and to conduct analysis into product strategies, market launch, technology transfer, toolmaking, and the development of training programmes. The institute will employ between 40 and 50 people.
BORGWARD has worked closely with FEV since 2010. The results of this collaboration include the development of four petrol and diesel engines and their preparation for series production. In addition, FEV has supported BORGWARD in the development of other energy-saving and environmentally friendly engines, which are likewise ready for series production.
BORGWARD Group AG
70174 Stuttgart, Germany