BorgWarner Joins Department of Energy's Better Climate Challenge Aimed at Significantly Reducing Greenhouse Gas Emissions

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.

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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.

SOURCE BorgWarner