Phinia's Successful NYSE Debut Marks Spin-Off from BorgWarner
Phinia Inc., the newly spun-off fuel systems and aftermarket segment of BorgWarner, made a strong debut on the New York Stock Exchange, with its stock price surging over 20% on its first day of trading. The Michigan-based automotive supplier, which produces parts for internal combustion engines, aims to focus on developing sustainable solutions for internal combustion engines and alternative fuels, including hydrogen, as part of its vision for a carbon-neutral future. The spinoff allows BorgWarner to concentrate on electric vehicles, while Phinia seeks to capitalize on the continued demand for non-electric automotive technologies.