BorgWarner Announces Joint Venture with 12 Chinese OEMs to Produce Dual Clutch Transmission Modules
14 Janvier 2009 - 1:00PM
PR Newswire (US)
BorgWarner Leads Expansion of Dual Clutch Transmissions in China
AUBURN HILLS, Mich., Jan. 14 /PRNewswire-FirstCall/ -- BorgWarner
(NYSE:BWA) is pleased to announce that it has signed a contract to
establish a joint venture with China Automobile Development United
Investment Co., Ltd. (CDUI), a company owned by 12 leading Chinese
automakers including FAW, SAIC, Dongfeng, Chery, ChangAn,
Brilliance, Guangzhu, Changfeng, JAC, Geely, Polarsun and Great
Wall Motor. Known as BorgWarner United Transmission Systems Co.,
Ltd., the joint venture will be located in Dalian, China, and will
produce various dual clutch transmission modules beginning in 2011.
BorgWarner holds a 66% majority ownership in the joint venture. "By
leading the dual clutch transmission expansion into the Chinese
marketplace, this joint venture will establish BorgWarner's
DualTronic(R) technology as the preferred automatic transmission
solution in China," said Tim Manganello, BorgWarner Chairman and
CEO. "BorgWarner is honored to join CDUI and its 12 Chinese OEM
partners in bringing the benefits of DualTronic(R) technology --
improved fuel economy, lower emissions and a dynamic yet
comfortable driving experience -- to the growing automatic
transmission market in China." Since BorgWarner's DualTronic(R)
technology is based on a manual transmission architecture, it is
especially attractive in China, where OEMs have a solid manual
transmission infrastructure. The joint venture will allow Chinese
OEMs to make the technological leap to world-leading dual clutch
transmissions quickly and cost effectively. BorgWarner's modular
DualTronic(R) technology can be tuned to meet the full range of
vehicles manufactured by its Chinese OEM partners. A leader in the
globalization of dual-clutch transmission technology for over ten
years, BorgWarner's family of DualTronic(R) technologies combines
the efficiency of a manual gearbox with the functionality of a
fully automatic transmission, delivering seamless powerflow,
improved fuel efficiency and a fun-to-drive experience. Customers
include VW, Audi, Bugatti, SAIC, Nissan and GETRAG PowerShift(R)
dual-clutch transmission programs supporting global automakers
including BMW, Ford and Mitsubishi. In addition, BorgWarner is
currently working on over 25 programs with transmission and vehicle
makers around the world and expects applications of its dual-clutch
technology to expand four-fold to 3 million dual-clutch
transmissions by 2014. Auburn Hills, Michigan-based BorgWarner Inc.
(NYSE:BWA) is a product leader in highly engineered components and
systems for vehicle powertrain applications worldwide. The FORTUNE
500 company operates manufacturing and technical facilities in 64
locations in 17 countries. Customers include VW/Audi, Ford, Toyota,
Renault/Nissan, General Motors, Hyundai/Kia, Daimler, Chrysler,
Fiat, BMW, Honda, John Deere, PSA, and MAN. The Internet address
for BorgWarner is: http://www.borgwarner.com/. Statements contained
in this news release may contain forward-looking statements as
contemplated by the 1995 Private Securities Litigation Reform Act
that are based on management's current expectations, estimates and
projections. Words such as "outlook", "expects," "anticipates,"
"intends," "plans," "believes," "estimates," variations of such
words and similar expressions are intended to identify such
forward-looking statements. 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. Such risks and uncertainties
include: fluctuations in domestic or foreign vehicle production,
the continued use of outside suppliers, fluctuations in demand for
vehicles containing our products, changes in general economic
conditions, and other risks detailed in our filings with the
Securities and Exchange Commission, including the Risk Factors,
identified in our most recently filed Annual Report on Form 10-K.
We do not undertake any obligation to update any forward-looking
statements. DATASOURCE: BorgWarner Inc. CONTACT: Mary Brevard for
BorgWarner Inc., +1-248-754-0881 Web site:
http://www.borgwarner.com/
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