AUBURN HILLS, Mich.,
Feb. 2, 2022 /PRNewswire/ --
BorgWarner Inc., (BorgWarner) today announced that it has joined
the U.S. Department of Energy's (DOE) Better Climate Challenge, a
national leadership initiative that calls on chief executive
officers, university presidents and state and local leaders to
reduce greenhouse gas (GHG) emissions, create jobs, and promote
healthy, safe and thriving communities. Partners of the Better
Climate Challenge make a public commitment to take environmental
action, including a 50% or more reduction in GHG emissions over the
course of 10 years.
By joining the Better Climate Challenge, BorgWarner is further
committing to pursuing an aggressive energy efficiency target to
demonstrate how it is prioritizing energy efficiency as a
decarbonization strategy. The company will leverage its existing
organization-wide plan with GHG reduction milestones and further
expand on it as needed by the DOE. Additionally, it will commit to
participating in at least one working group to discuss barriers to
achieve goals, exchange best practices with other partners and work
to identify solutions. As required by all participants, BorgWarner
will make its energy performance data available by reporting its
GHG findings annually for the duration of the 10-year
challenge.
"BorgWarner is proud and excited to accept the DOE's challenge
of strengthening the clean energy economy," said Dr. Volker Weng, Vice President of BorgWarner Inc.
and President and General Manager, Drivetrain Systems and
Sustainability Steering Committee Champion. "We look forward to
uniting and collaborating with partnering organizations to share
ideas, resources and solutions while taking measurable steps to
address climate change in BorgWarner's pursuit of becoming carbon
neutral by 2035."
BorgWarner will join other participating mobility leaders
including Ford, General Motors, Cummins Inc. and Lear Corporation,
among others representing a wide variety of industries within the
U.S.
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 22 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
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forward-looking statements. Further, all statements, other than
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