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BorgWarner Reaches Three-year Strategic Cooperation Agreement with WM Motor

Press Release from BorgWarner Inc.

AUBURN HILLS, Mich., Sept. 25, 2018 /PRNewswire/ -- BorgWarner entered into a three-year strategic cooperation agreement with Chinese auto manufacturer, WM Motor. The two parties agreed to cooperate in the establishment of transportation models for tomorrow's smart city. BorgWarner plans to provide a full range of advanced electric propulsion technologies and efficient electrical application systems, including its high-performance electric drive modules (eDM).

BorgWarner reaches a three-year strategic cooperation agreement with Chinese auto manufacturer, WM Motor. Dr. Stefan Demmerle, President and General Manager, BorgWarner PowerDrive Systems (Left), Freeman Shen, Chairman and CEO of WM Motor (Right)

Freeman Shen, Chairman and CEO of WM Motor, and Dr. Stefan Demmerle, President and General Manager, BorgWarner PowerDrive Systems, signed the agreement. "We are pleased to initiate this cooperation agreement with WM Motor, a major emerging player in China's auto market, and are excited to partner with them to explore business opportunities in the promising electric vehicle industry," said Demmerle.

"This cooperation marks a major step for BorgWarner's expansion in China's new-energy vehicle market," said Tom Tan, President, BorgWarner China. "Together, we plan to fuel the development of the Chinese electric vehicle industry with our efficient electrical systems and high-performance electric power products."

The cooperation between BorgWarner and WM Motor started with WM Motor's first model EX5. Launched at Auto China 2018 in April, the EX5 is the industry's first pure-electric SUV offering a full-car interactive experience. From the interactive window projection to the face recognition-powered Weltmeister ID, the EX5 delivers a smart interactive experience enabled by its full-vehicle digitalized solutions.

BorgWarner agreed to provide its high-performance eDM for this smart electric vehicle model. Integrating its industry-leading eGearDrive® transmission and high voltage hairpin (HVH) electric motor technology, BorgWarner's eDM powers pure electric or hybrid vehicles. The integrated design enables weight, cost and space savings in addition to easy installation, meeting energy efficiency and emission requirements. Its high-precision gear train can reduce system losses and increase power density, providing extended driving range, and a quiet and smooth driving experience for drivers and passengers.

About BorgWarner

BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 66 locations in 18 countries, the company employs approximately 29,000 worldwide. For more information, please visit borgwarner.com.

Statements in this press 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," "initiative," "intends," "outlook," "plans," "potential," "project," "pursue," "seek," "should," "target," "when," "would," variations of such words and similar expressions are intended to identify such forward-looking statements. 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. Such risks and uncertainties include: fluctuations in domestic or foreign vehicle production, the continued use by original equipment manufacturers of outside suppliers, fluctuations in demand for vehicles containing our products, changes in general economic conditions, as well as other risks noted in reports that we file with the Securities and Exchange Commission, including the Risk Factors identified in our most recently filed Annual Report on Form 10-K. We do not undertake any obligation to update or announce publicly any updates to or revision to any of the forward-looking statements.

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