BorgWarner Secures eHeater Business Uplift with Premium European OEM

Rhea-AI Summary

BorgWarner (BWA) secures additional high voltage coolant heater business with a premium European OEM for its mid-size electric vehicle platform, using the 800V 3kW HVCH single-plate heater to optimize battery thermal management. The company's advanced thermal management systems are chosen for their exceptional efficiency and performance, supporting the customer's shift to electrification.

Positive

• BorgWarner secures additional business with a premium European OEM, indicating a growing demand for its advanced thermal management systems.
• The 800V 3kW HVCH single-plate heater optimizes battery thermal management, maximizing energy output and achieving high thermal power density and fast response time.
• The use of thick film heating elements (TFE) on stainless steel ensures efficient heat transfer to the coolant, with a solid die-cast aluminum housing providing excellent electromagnetic shielding and extended product life.

Negative

• None.

• 800V 3kW high voltage coolant heater optimizes battery thermal management to increase battery performance and extend electric vehicle range
• Robust thick film element technology provides fast response and long product life

AUBURN HILLS, Mich., Aug. 2, 2023 /PRNewswire/ -- BorgWarner has been awarded additional high voltage coolant heater (HVCH) business with a premium European OEM for its mid-size electric vehicle platform, following an initial supply agreement in July 2022 for the OEM's small electric vehicle platform. The 800V 3kW HVCH single-plate heater will be used to maintain optimal battery temperature on electrified vehicles for the European and Asia-Pacific markets.

"This is a significant volume extension of our high voltage coolant heater program with this European customer," said Joe Fadool, President and General Manager, BorgWarner Emissions, Thermal and Turbo Systems. "We're delighted that they continue to choose BorgWarner's advanced thermal management systems due to their exceptional efficiency and performance and are happy to support our customers with their shift to electrification."

Thermal management of an electric vehicle's battery system is essential to achieve optimal performance. By managing the temperature within the battery pack, energy output is maximized, and high thermal power density as well as fast response time are achieved. BorgWarner's HVCH features a compact design employing the latest thick film heating elements (TFE) on stainless steel. Heat from the TFEs is efficiently transferred to the coolant through a set of fins. The heating unit is packaged in a solid die-cast aluminum housing that provides excellent electromagnetic shielding and resists thermal shock, vibration and mechanical stress for extended product life.

Production of BorgWarner HVCHs for the customer's electric vehicle is scheduled to start in 2025.

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.

Forward Looking Statements: 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 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 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 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: 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; 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 in reports that we file with the Securities and Exchange Commission, including 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 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

FAQ

What is BorgWarner (BWA) awarded for?

BorgWarner has been awarded additional high voltage coolant heater (HVCH) business with a premium European OEM for its mid-size electric vehicle platform.

What are the key features of BorgWarner's HVCH?

The 800V 3kW HVCH single-plate heater optimizes battery thermal management, maximizing energy output and achieving high thermal power density and fast response time. It employs the latest thick film heating elements (TFE) on stainless steel and is packaged in a solid die-cast aluminum housing that provides excellent electromagnetic shielding and extended product life.

When will production of BorgWarner HVCHs for the customer's electric vehicle start?

Production is scheduled to start in 2025.