- Logo is future-focused and dynamic, signaling a new chapter in
BorgWarner's history
- Decision to unveil based on strong progress versus Charging
Forward objectives
- Company expects eProduct revenues of over $10 billion by 2027
- Reinforces BorgWarner's Vision of a clean, energy-efficient
world
AUBURN
HILLS, Mich., June 6, 2023
/PRNewswire/ -- BorgWarner unveiled its new logo underscoring
the company's progress in its eMobility transformation through the
execution of its Charging Forward strategy. The new logo is a
visual representation of the company's transformation – it is
future-focused, dynamic and signals a new chapter in BorgWarner's
long and proud history. This is the first time the logo has changed
in over three decades.
![BorgWarner Logo (PRNewsfoto/BorgWarner) BorgWarner Logo (PRNewsfoto/BorgWarner)](https://mma.prnewswire.com/media/1020093/BorgWarner_new_Logo.jpg)
BorgWarner announced its Charging Forward strategy
in March 2021 and has made
significant progress in achieving its targets. The company is on
track to have at least 25% of its revenues from battery electric
vehicles (EV) by 2025, with organic EV bookings of $3 billion for 2025 exceeding its $2.5 billion target. Additionally, EV-focused
M&A is tracking ahead of plan with the five acquisitions the
company has made in the battery pack, e-motor, power electronics,
and direct current fast charging spaces. With the spin-off of
PHINIA expected to be completed in Q3 of this year, BorgWarner will
have met its objectives with respect to optimizing its combustion
portfolio.
"Now is the right time to introduce our new logo. It signifies
the tremendous progress our team has made in transforming
BorgWarner from a leader in conventional propulsion technologies to
a leader in mobility, including eMobility," said Frédéric Lissalde,
President and Chief Executive Officer, BorgWarner.
To recognize this new chapter, today BorgWarner announced its
plans to leverage the strength of its foundational products to
continue to grow its eProduct (EV and hybrid) revenue to
$5.6 billion in 2025 and to greater
than $10 billion in 2027. This year,
the company expects eProduct revenues of $2.3 to $2.6
billion.
BorgWarner partnered with Siegel+Gale, the brand strategy firm,
to develop the new corporate logo.
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility – to help build a cleaner,
healthier, safer future for all.
BorgWarner unveiled a new logo underscoring the progress the
company has made in its eMobility transformation through the
execution of its Charging Forward strategy. The new logo is a
visual representation of the company's transformation –
future-focused, dynamic and signals a new chapter in BorgWarner's
long and proud history.
Forward-Looking Statements: This press release contains
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 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 most recently-filed Annual Report on
Form 10-K ("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
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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
supply disruptions impacting 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; commodity availability and pricing, and an inability
to achieve expected levels of recoverability in commercial
negotiations with customers concerning these costs; 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 difficulty in forecasting demand for electric
vehicles and our electric vehicles revenue growth; potential
disruptions in the global economy caused by Russia's invasion of Ukraine; the ability to identify targets and
consummate acquisitions on acceptable terms; failure to realize the
expected benefits of acquisitions on a timely basis; our ability to
effect the intended tax-free spin-off of our Fuel Systems and
Aftermarket segments into a separate, publicly traded company on a
timely basis or at all; the potential that uncertainty during the
pendency of the spin-off transaction could affect our financial
performance; the possibility that the spin-off transaction will not
achieve its intended benefits; the failure to promptly and
effectively integrate acquired businesses; the potential for
unknown or inestimable liabilities relating to the 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; 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, or governmental
investigations, including related litigation; future changes in
laws and regulations, including, by way of example, taxes and
tariffs, in the countries in which we operate; impacts from any
potential future acquisition or disposition transactions; and the
other risks noted under Item 1A, "Risk Factors" in our most
recently-filed 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.
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SOURCE BorgWarner