AUBURN HILLS, Mich.,
Nov. 30, 2021 /PRNewswire/ --
BorgWarner, a global product leader in delivering innovative and
sustainable mobility solutions for the vehicle market, has joined
the Clean Energy Buyers Alliance (CEBA) as a "large energy buyer"
member to support its commitment to environmental sustainability
and vision of a clean, energy-efficient world. The alliance of
large clean energy buyers, developers and service providers seeks
to unlock the marketplace for energy consumers to lead a rapid
transition to a cleaner, prosperous and zero-carbon energy
future.
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"BorgWarner is proud to join CEBA, the largest group of clean
energy buyers in the United
States," said Dr. Volker
Weng, Vice President of BorgWarner Inc. and President and
General Manager, Drivetrain Systems and Sustainability Steering
Committee Champion. "The expansive knowledge base of the CEBA
network will be a great asset to tap into as we explore the array
of existing clean energy options and actively work to become
carbon-neutral in our operations by 2035."
The CEBA community leverages peer-to-peer expertise and
knowledge share, policy and regulatory advocacy, and foundational
educational resources to accelerate renewable energy procurement.
It includes more than 270 companies, 77 of which are featured on
the Fortune 500 list. With BorgWarner's membership, it joins
industry leaders in demonstrating their commitment to collectively
realize a cleaner energy future.
By becoming a member of the alliance, BorgWarner gains admission
to numerous assets to support its environmental sustainability
journey including education materials for all members of the
company, collaboration on innovative solutions, exclusive events,
network building with fellow industry experts and the opportunity
to share and amplify the company's market leadership across the
industry.
"One of the best things about CEBA is the community of
environmentally conscious people and companies that are coming
together in an open forum to talk through the future and how we can
collectively make a difference in the outlook of clean energy,"
continued Weng. "We're looking forward to collaborating with peers,
learning from others and sharing best practices to reduce carbon
emissions and create a net-zero economy."
BorgWarner officially became a member of CEBA on Oct. 1, 2021.
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.
About CEBA
Clean Energy Buyers Alliance (CEBA) is a
national association for large-scale energy buyers seeking to
procure clean energy across the U.S. With more than 270 members
from across the commercial and industrial sectors, nonprofit
organizations, as well as energy providers and service providers,
CEBA is working towards the creation of a resilient, zero-carbon
energy system. CEBA's members represent over $6 trillion in annual revenues and over 14
million U.S. employees. CEBA's goal is to catalyze 60 gigawatts of
new renewable energy projects by 2025 and to unlock the energy
market for all large-scale energy buyers by creating viable
pathways to procurement.
Forward-Looking Statements: This presentation 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
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statements of historical fact contained or incorporated by
reference in this presentation 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 presentation.
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:
supply disruptions impacting the us or our customers, such as the
current shortage of semiconductor chips that has impacted original
equipment manufacturer ("OEM") customers and their suppliers,
including us; commodities availability and pricing; 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
pandemic including additional production disruptions; the failure
to realize the expected benefits of the acquisition of Delphi
Technologies PLC that we completed on October 1, 2020; the failure to realize the
expected benefits of the acquisition of AKASOL 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 difficulty in forecasting demand for electric
vehicles and our electric vehicles 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; 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; 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
presentation to reflect any change in our expectations or any
change in events, conditions, circumstances, or assumptions
underlying the statements.
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SOURCE BorgWarner