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Auto parts maker bets on new battery technology

Alex Molinaroli, chairman and CEO of Johnson Controls, discussed the auto parts maker's new battery technology, the electrical vehicle boom and current state of China's car market in an exclusive interview for CNBC PRO subscribers.

"The fact when you stop your vehicle and the engine still runs is incredibly wasteful. ... It's free energy, free savings," Molinaroli told CNBC's Phil LeBeau.

This new "start-stop" battery technology is 10 percent of the U.S. market today, "but when we work with our customers it's going to be about 50 percent in five years," he said.

The company is shedding lower-growth businesses in order to focus on the hot battery and engine diagnostic component market.

Before becoming chairman and CEO of Johnson Controls, Molinaroli was president of the company's power solutions business from 2007 to 2013.

To watch the interview, you must be a CNBC PRO subscriber.