US-based automotive components supplier BorgWarner Turbo Systems plans to expand its North Carolina manufacturing operations in Buncombe County.
For the expansion, the company will invest about $32m over the next three years in Arden that is expected to create additional 63 jobs.
BorgWarner Turbo Systems president and general manager Frédéric Lissalde said as demand for the company's turbocharging technologies escalates, it will continue to leverage the strong and talented local labor pool.
"We are excited about our business prospects and look forward to working with North Carolina and Buncombe County to enhance the local economy," Lissalde added.
The move follows a forecast that the US turbocharger market is growing rapidly as strict emission regulations and demand for fuel-efficient vehicles is increasing the need for more turbocharged engines.
North Carolina Governor Pat McCrory said companies are choosing to expand because the region's economic environment allows job growth to flourish and innovations to thrive.
"BorgWarner Turbo Systems' expansion will not only result in more growth for our thriving advanced manufacturing industry, but it will deliver millions of dollars in capital investment to western North Carolina," McCrory added.
BorgWarner expects to increase the production in North America by over two times during the next five years.
