BorgWarner to integrate STMicroelectronics’ Silicon-Carbide Technology in Viper Power Module for Volvo Cars’ Next-Generation Electric Vehicles

STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, will supply BorgWarner Inc. (NYSE: BWA), a global leader in delivering innovative and sustainable mobility solutions, with the latest third generation 750V silicon carbide (SiC) power MOSFETs dice for their proprietary Viper-based power module. This power module is used in BorgWarner’s traction inverter platforms for several current and future Volvo Cars electric vehicles.

“This collaboration will give Volvo Cars the opportunity to further increase the attractiveness of our electrical vehicles with longer range and faster charging. It will also support us on our journey towards being fully electric by 2030 and strengthen our increased vertical integration and our control of critical components,” says Javier Varela, Chief Operating Officer & Deputy CEO, Volvo Cars.

“BorgWarner is pleased to partner with ST to supply our longstanding customer Volvo Cars with inverters for their next generation of BEV platforms,” says Stefan Demmerle, Vice President of BorgWarner Inc. and President and General Manager, PowerDrive Systems.

To fully leverage the performance of ST’s SiC MOSFET dice, BorgWarner collaborated closely with ST’s technical team to match their die with BorgWarner’s Viper power switch, thereby maximizing inverter performance and delivering a compact and cost-effective architecture. The collaboration between the companies provides the high-volume capability that is required by the quickly growing EV market.

“Our collaboration with BorgWarner, a leading global automotive supplier in electrification, will enable Volvo Cars to offer their customers superior vehicle performance and range,” says Marco Monti, President, Automotive and Discrete Group, STMicroelectronics. “We are committed to expanding SiC capacity and to reinforcing our SiC supply, including through vertical integration, as we ramp up volumes to support our global automotive and industrial customers in their shift to electrification and higher efficiency.”

ST’s high-volume STPOWER SiC products are manufactured in its fabs in Italy, and Singapore, with advanced packaging and testing at its back-end facilities in Morocco and China. In October 2022, ST announced it would expand its wide bandgap manufacturing capacity with a new integrated SiC substrate manufacturing facility in Catania, home to the company’s power semiconductor expertise and the site of integrated research, development, and manufacturing of SiC.

About STMicroelectronics
At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and connectivity. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.

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.