BorgWarner will integrate onsemi EliteSiC 1200
V and 750 V power devices into its VIPER power modules for traction
inverter solutions to increase performance of electric vehicles
onsemi (Nasdaq: ON), a leader in intelligent power and sensing
technologies, and BorgWarner Inc. (NYSE: BWA), a global product
leader in delivering innovative and sustainable mobility solutions,
today announced the two companies are expanding their strategic
collaboration for silicon carbide (SiC), making the total agreement
worth over $1 billion in lifetime value. BorgWarner plans to
integrate onsemi EliteSiC 1200 V and 750 V power devices into its
VIPER power modules. The EliteSiC devices join a broad portfolio of
onsemi products that are part of the long-standing strategic
relationship between the two companies.
onsemi provides high-performance EliteSiC technology while
maintaining the high standards of quality, reliability and supply
assurance needed for the EV traction market. onsemi’s decades of
experience in the design, development and manufacturing of power
semiconductor products support successful adoption in high-volume
automotive applications.
“First and foremost, onsemi’s continuous and strategic
investment in ramping SiC manufacturing capacity across its
end-to-end supply chain gives us confidence in our ability to
support the increasing demand for our solutions, now and in the
future,” said Stefan Demmerle, Vice President of BorgWarner Inc.
and President and General Manager, PowerDrive Systems.
BorgWarner’s silicon carbide traction inverters already offer
higher efficiency, better cooling performance, and faster-charging
rates in a more compact package than other options for EVs. By
using EliteSiC technology, BorgWarner’s solutions expect to benefit
from increased power density and higher efficiency, which increase
the range and overall performance of EVs.
“The integration of EliteSiC technology in the traction inverter
enables increased gas-equivalent miles per gallon (MPGe), which
helps alleviate range anxiety - one of the key barriers to EV
adoption,” said Simon Keeton, Executive Vice President and General
Manager, Power Solutions Group, onsemi. “With onsemi’s
chip-to-system level support and a track record of execution, we
are able to provide industry-leading SiC-based solutions to
BorgWarner at an accelerated pace to support its go-to-market
requirements.”
onsemi’s Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements,” as
that term is defined in Section 27A of the Securities Act of 1933,
as amended and Section 21E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements are often characterized by
the use of words such as “believes,” “estimates,” “expects,”
“projects,” “may,” “will,” “intends,” “plans,” “should,” or
“anticipates,” and similar expressions. However, all statements,
other than statements of historical facts, could be deemed
forward-looking statements. All forward-looking statements in this
press release are made based on onsemi’s current expectations,
forecasts, estimates and assumptions, and involve risks,
uncertainties and other factors that could cause results or events
to differ materially from those expressed in the forward-looking
statements. Additional factors that could cause results to differ
materially from those projected in the forward-looking statements
are contained in onsemi’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K, and other of
onsemi’s filings with the SEC, respectively. onsemi assumes no
obligation to update such information, except as may be required by
law.
About onsemi
onsemi (Nasdaq: ON) is driving disruptive innovations to
help build a better future. With a focus on automotive and
industrial end-markets, the company is accelerating change in
megatrends such as vehicle electrification and safety, sustainable
energy grids, industrial automation, and 5G and cloud
infrastructure. onsemi offers a highly differentiated and
innovative product portfolio, delivering intelligent power and
sensing technologies that solve the world’s most complex challenges
and leads the way to creating a safer, cleaner and smarter world.
onsemi is recognized as a Fortune 500® company and included in the
Nasdaq-100 Index® and S&P 500® index. Learn more about onsemi
at www.onsemi.com.
onsemi and the onsemi logo are trademarks of Semiconductor
Components Industries, LLC. All other brand and product names
appearing in this document are registered trademarks or trademarks
of their respective holders.
BorgWarner’s 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 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 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.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230718841347/en/
onsemi
Krystal Heaton Director, Head of Public Relations
(480) 242-6943 Krystal.Heaton@onsemi.com
Parag Agarwal Vice President - Investor Relations &
Corporate Development (602) 244-3437 investor@onsemi.com
BorgWarner
Michelle Collins Public Relations +1 248-754-0449
mediacontact@borgwarner.com
Pat Nolan Investor Relations +1 248-754-0884
BorgWarner (NYSE:BWA)
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