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BorgWarner Unveils Next Phase of Electrification Strategy at 2023 Investor Day

“Charging Forward: 2027” Builds on Company’s Proven Track Record and Leading Market Positions Expecting to Deliver Enhanced, Sustainable Growth and Value Creation.
 
Auburn Hills, Michigan, June 6, 2023 – At its 2023 Investor Day being held today, BorgWarner Inc. (NYSE: BWA) (“the Company”) is announcing the next phase of its “Charging Forward” strategy for advancing its position as a technology leader in eProducts, while maximizing its Foundational portfolio. 
 
“Over the past two years, the BorgWarner team has worked diligently to execute on our ‘Charging Forward’ strategy, and we believe we are well on track to meet or exceed our 2025 goals for EV organic growth, M&A and asset dispositions. This next phase of growth is a natural extension of our efforts to enhance our entire eProduct portfolio. Building on our success to date, we expect our eProducts to deliver over $10 billion in revenue by 2027,” said Frédéric Lissalde, President and CEO of BorgWarner. “We believe BorgWarner is uniquely positioned to capture this growth opportunity given our leading market positions, deep customer relationships, strong Foundational assets and proven track record of innovation. As we work to drive sustainable, long-term value for our shareholders and other stakeholders, we will continue to be guided by our vision for a clean, energy-efficient world.”
 
At today’s event, BorgWarner will provide insights into the Company's acceleration of its positioning and outlook in an electrified world. Specifically, the Company will profile its “Charging Forward: 2027” strategy, which focuses on profitably growing eProducts for both BEVs and Hybrid vehicles while maximizing the value of its Foundational portfolio.  As part of that strategy, the Company will detail its expectations regarding the following:
 
  • Achieving over $10 billion in eProducts sales by 2027, making up nearly 50% of BorgWarner’s total sales;
  • Delivering approximately 7% margins and positive free cash flow in its eProduct portfolio by 2027, driven by leveraging economies of scale as eProducts revenue growth is expected to outpace eProduct R&D;
  • Maximizing the value of its Foundational portfolio, through sustaining its leading margin profile and strong free cash flow conversion to support ongoing investments in electrification; and
  • Continuing its strong commitment to ESG, evidenced by its goals of achieving carbon neutrality by 2035 for Scope 1 and Scope 2 emissions, reducing Scope 3 emissions by 25% by 2031 from a 2021 baseline, and transitioning many of its existing people and manufacturing locations to support the growth in eProducts.
Conference Call and Webcast Details 
 
Today’s Investor Day presentation will begin at 9:00 a.m. (EDT). A live webcast and the materials for today’s event will be available on the investor relations section of BorgWarner’s website at borgwarner.com/investors under Events and Presentations.
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