TERADAT SANTIVIVUT
PHINIA Inc. (NYSE:PHIN) began trading on Wednesday on the New York Stock Exchange as an independent company after being spun off from BorgWarner (BWA) on July 3.
The new company hits the ground running as a leading Fuel Systems and Aftermarket business, with brands that include Delphi, Delco Remy, and Hartridge.
PHINIA (PHIN) has stated that its mission is to deliver high quality, innovative systems, and components for OE and aftermarket customers across commercial and light vehicles and industrial applications, while leveraging fuel technology as a pathway to carbon neutrality.
The CEO of PHINIA (PHIN) is Brady Ericson, who has over 30 years of industry experience and is said to bring in-depth knowledge of the global commercial vehicle, industrial and automotive markets and an extensive engineering background. He previously led three different business units of BorgWarner and was BorgWarner’s first Chief Strategy Officer.
PHINIA’s primary focus will be on applications and markets that will benefit the most from the energy density and utility of a fuel. The overall target is to drive the efficiency and performance of today’s products, helping keep efficient vehicles in operation longer, and supporting the transition to carbon-neutral and carbon-free fuels of tomorrow.
“Our strategy centers around developing sustainable solutions for internal combustion engines and leveraging our technology for alternative fuels which we believe will rapidly become a key contributor on our journey to carbon neutrality. Our vision of a sustainable future includes a wide range of solutions including carbon-neutral and carbon-free fuels,” stated Ericson.
Shares of PHINIA (PHIN) were up 9.12% from their starting points at 3:15 p.m.
