BorgWarner Unveils New Logo, Marking Its Transformation to eMobility

• 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 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.

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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