(Reuters) – U.S. auto parts maker BorgWarner Inc (BWA.N) is in advanced talks to buy UK-based Delphi Technologies PLC (DLPH.N), as it looks to expand in a growing market for hybrid and electric vehicles, Bloomberg reported on Tuesday.
A deal could be announced as soon as this week, the report said.
The two companies did not immediately respond to a Reuters request for comment outside business hours.
BorgWarner, which has a market capitalization of about $7.9 billion, makes automotive parts including automatic transmissions, turbochargers, emissions systems as well as thermostats.
Delphi, which is valued at about $843.5 million, makes parts including electronic control modules that provides centralized management of various powertrain components.
Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur