BorgWarner Inc. announced Tuesday and equity transfer agreement to buy the electric vehicle (EV) charging business of China-based Hubei Surpass Sun Electric (SSE) in a deal valued at up to RMB410 million ($58.5 million). The deal includes RMB267 million to be delivered around the closing, which is expected to occur in the first quarter of 2023, and up to RMB143 million in the form of contingent payments over two years after closing. “This transaction makes good business sense as we continue to b