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BorgWarner Furthers Growth in China with Two Dual Inverter Projects

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- Contracts with Great Wall Motor Company Limited and one other major Chinese OEM slated for 2021 and 2023 HEV and PHEV passenger car models

- Technology delivers high functionality, cost and weight reductions, superior fuel efficiency, flexible packaging and easy installation

- Highlights trust in BorgWarner's advanced dual inverter capabilities

AUBURN HILLS, Mich., Aug. 4, 2021 /PRNewswire/ -- BorgWarner is making significant traction in the China mobility market, most recently with contracts to supply dual inverters for two premier Chinese OEMs. The dual inverters will be featured on both hybrid electric vehicles (HEV) and plug-in hybrid electric vehicle (PHEV) versions of the GWM LEMON platform, and the other major Chinese OEM will utilize the technology on its own HEV and PHEV passenger car models.

BorgWarner’s dual inverter technology delivers high functionality, cost and weight reductions, superior fuel efficiency, flexible packaging and easy installation
BorgWarner’s dual inverter technology delivers high functionality, cost and weight reductions, superior fuel efficiency, flexible packaging and easy installation

"China has continued to be a leader in electrification efforts, and we are pleased to further expand our presence in the region by supplying two leading Chinese automakers with our high performing dual inverters," said Tom Tan, Vice President of BorgWarner Inc. and President of BorgWarner China. "These new contracts showcase the trust and confidence we have built in our electrified applications from these customers and will aid us in continuing to lead the dual inverter technology trend in China and beyond."

Production for the GWM dual inverter is currently underway, with and without a DC/DC converter option, which was launched on several 2021 GWM models. The project with the other major Chinese OEM is planned for 2023 models.

"Our project with GWM is a milestone achievement for both companies, as together we launched one of the first dual inverter projects and DHT hybrid powertrain systems in China. GWM's DHT system is becoming a strong benchmark for the China market due to its dynamic driving performance and ability to achieve great fuel economy, enabled in part by our inverter technology," said Tan.

By combining different power electronic technologies into one compact package, BorgWarner's dual inverter range is able to provide unrivalled functionality. A single unit can control and drive two electric motors while delivering cost and weight reductions, as well as enabling flexible packaging and easier installations. Additionally, BorgWarner's dual inverter provides propulsion, energy generation and re-capturing of energy in hybrid powertrains.

BorgWarner is a leading supplier of advanced electrification technologies with a full range of power electronics, inverters, DC/DC converters, battery chargers and more. Focused on delivering propulsion systems at high voltage or 48V, BorgWarner's technologies and systems enhance the driving experience, performance and fuel economy of vehicle applications while reducing emissions. To learn more about BorgWarner's electrification technologies, visit borgwarner.com.

About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 23 countries, the company employs approximately 50,000 people worldwide. For more information, please visit borgwarner.com.

Forward-Looking Statements: This press release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this press release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies and Estimates" in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2020 ("Form 10-K"), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. Forward-looking statements are not guarantees of performance, and the Company's actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: the difficulty in forecasting demand for electric vehicles and our EV revenue growth to 2030; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions; the ability to identify appropriate combustion portfolio businesses for disposition and consummate planned dispositions on acceptable terms; competitive challenges from existing and new competitors including OEM customers; the challenges associated with rapidly-changing technologies, particularly as relates to electric vehicles, and our ability to innovate in response; uncertainties regarding the extent and duration of impacts of matters associated with the COVID-19/coronavirus pandemic, including additional production disruptions; the failure to realize the expected benefits of the acquisition of Delphi Technologies PLC that the Company completed on October 1, 2020; the failure to realize the expected benefits of the acquisition of AKASOL AG that the Company completed on June 4, 2021 or a delay in the ability to realize those benefits; the failure to successfully execute on a timely basis our taking private strategy with respect to AKASOL; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to acquired businesses; our dependence on automotive and truck production, both of which are highly cyclical and subject to disruptions; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; future changes in laws and regulations, including, by way of example, tariffs, in the countries in which we operate; impacts from any potential future acquisition or divestiture transactions; and the other risks, including, by way of example, pandemics and quarantines, noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this press release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

BorgWarner Logo (PRNewsfoto/BorgWarner)
BorgWarner Logo (PRNewsfoto/BorgWarner)

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SOURCE BorgWarner