PR85921

AUBURN HILLS, Michigan, Oct. 2, 2020 /PRNewswire=KYODO JBN/--

  - Strengthens Electronics and Power Electronics Products, Capabilities

    and Scale

  - Positions BorgWarner for Greater Growth as Electrified Propulsion

    Systems Gain Momentum

  - Enhances Key Combustion, Commercial Vehicle and Aftermarket

    Businesses

BorgWarner Inc. (NYSE: BWA) today announced it has completed its acquisition of

Delphi Technologies. The combination of BorgWarner and Delphi Technologies is

expected to strengthen BorgWarner's electronics and power electronics products,

capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner

believes is well-positioned to take advantage of future propulsion migration.

Logo - https://mma.prnewswire.com/media/1020093/borgwarner_Logo.jpg 

"We are pleased to complete our acquisition of Delphi Technologies," said

Frédéric Lissalde, President and CEO, BorgWarner. "Through this combination,

BorgWarner is  even better positioned with a more comprehensive portfolio of

industry-leading propulsion products and systems across combustion, hybrid and

electric vehicles.  We expect that the combination will also strengthen our

commercial vehicle and aftermarket businesses. We welcome Delphi Technologies'

colleagues around the world to the BorgWarner team and are excited about the

opportunities we have together to address market trends towards electrification.

I am proud of our global workforce, including our integration planning teams,

for driving the business forward as we managed through the pandemic and laying

a strong foundation for a seamless integration. I have great confidence that we will

realize what we believe are significant benefits of this combination for our shareholders,

customers and suppliers."

Compelling Strategic and Financial Benefits:

Bringing BorgWarner and Delphi Technologies together is expected to:

     - Strengthen BorgWarner's electronics and power electronics products,

       capabilities and scale, creating a leader in electrified propulsion

       systems that BorgWarner believes is well-positioned to take

       advantage of future propulsion migration. Delphi Technologies

       brings industry leading power electronics technology and talent,

       with an established production, supply and customer base. The

       combined company will offer customers a suite of integrated and

       standalone offerings of power electronics products (including

       high voltage inverters, converters, on-board chargers and battery

       management systems) and capabilities (including software, systems

       integration and thermal management).

     - Enhance BorgWarner's combustion, commercial vehicle and aftermarket

       businesses. Delphi Technologies' breadth of combustion propulsion

       products complements BorgWarner's innovative portfolio, which is

       focused on clean technologies to increase efficiency and performance

       of modern combustion vehicles. Adding Delphi Technologies' commercial

       vehicle and aftermarket business results in more balance across

       light vehicles, commercial vehicles and the aftermarket.

       Global aftermarket customers will continue to benefit from an

       extensive portfolio of BorgWarner and Delphi Technologies

       OE-quality aftermarket parts, services, diagnostic tools and test

       equipment. As a brand of BorgWarner, Delphi Technologies Aftermarket

       will maintain its brand identity, and customers across the world

       will be able to rely on their trusted contacts for sales and

       customer service support.

The completion of the transaction follows approval by Delphi Technologies'

shareholders, receipt of required regulatory approvals, the satisfaction of

certain conditions relating to indebtedness of Delphi Technologies, and the

satisfaction or waiver of customary closing conditions. In connection with the

close of this transaction, Delphi Technologies common stock will cease to be

traded on the New York Stock Exchange.

Conference Call and Presentation Materials

At 9:30 a.m. ET on Thursday, October 8, 2020, a brief conference call with

additional details on the acquisition will be webcast at:

http://www.borgwarner.com/en/Investors/default.aspx .  

Additionally, an acquisition presentation will be available at

http://www.borgwarner.com/en/Investors/default.aspx .

About BorgWarner

BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient

technology solutions for combustion, hybrid and electric vehicles. 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 99 locations in 24 countries, the company employs

approximately 48,000 worldwide. For more information, please visit borgwarner.com.

Statements in this news release (this "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

projections. Words such as "anticipates," "believes," "continues," "could,"

"designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal,"

"guidance," "initiative," "intends," "may," "outlook," "plans," "potential,"

"predicts," "project," "pursue," "seek," "should," "target," "when," "will,"

"would," and variations of such words and similar expressions are intended to

identify such forward-looking statements. Further, all statements, other than

statements of historical fact contained or incorporated by reference in this

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" 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 in 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 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: failure to realize the expected benefits of the acquisition of Delphi

Technologies; failure to promptly and effectively integrate Delphi

Technologies' businesses; the potential for unknown or inestimable liabilities

relating to the acquired business; our dependence on automotive and truck

production, both of which are highly cyclical; our reliance on major OEM

customers; commodities availability and pricing; supply disruptions;

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; and other

risks noted in reports that we file with the Securities and Exchange

Commission, including Item 1A, "Risk Factors" in our most recently-filed Form

10-K. 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

CONTACT: IR: Patrick Nolan

         +1-248-754-0884

         ir@borgwarner.com; or

         PR: Michelle Collins

         +1-248-754-0449

         mediacontact@borgwarner.com