BorgWarner Raises Stakes for Back-to-Back Indianapolis 500 Win with $360,000 Rolling Jackpot

INDIANAPOLIS, Aug. 11, 2020 /PRNewswire/ -- BorgWarner is, once again, adding excitement to Victory Circle with its rolling jackpot, now totaling $360,000. Each year, the company sweetens the pot by adding $20,000, with the lump sum being up for grabs by the next driver who achieves back-to-back Indianapolis 500 wins. Established by BorgWarner in 1995 as a way to amplify its involvement with the classic event, the prize money has only been claimed once – by Helio Castroneves in 2002 for his back-to-back victories.

"BorgWarner has a long history with this prestigious motorsport event; from awarding the Borg-Warner Trophy to being the official turbocharger supplier of the race, the Indianapolis 500 is deep-seated within our company," said Frédéric Lissalde, President and CEO, BorgWarner Inc. "The rolling jackpot that BorgWarner increases each year adds even more excitement to this legendary race."

Back-to-back wins have been scarce in the history of the Indianapolis 500. In fact, since the inception of the race in 1911, only five lucky drivers have achieved this feat: Wilbur Shaw (1939-1940), Mauri Rose (1947-1948), Bill Vukovich (1953-1954), Al Unser (1970-1971) and most recently, Castroneves (2001-2002). No driver has ever clinched three straight victories.

The 2020 race is scheduled to be held on Sunday, Aug. 23 at the Indianapolis Motor Speedway where the reigning champion, Simon Pagenaud, will have the chance to claim the jackpot. If Pagenaud does not end up in Victory Circle, the $360,000 will carry over to the 2021 race with an additional $20,000 added by BorgWarner, a leader in clean and efficient propulsion systems. If Pagenaud is the victor, the rolling jackpot will start over at $20,000 next year.

Beyond the potential of winning $360,000, this year's winner will have their likeness permanently affixed to The Borg-Warner Trophy, which is currently adorned with the faces of the previous Indy 500 winners. Additionally, at a later date, the winner will be presented with a miniature version of the coveted Borg-Warner Trophy, known as the BorgWarner Championship Driver's Trophy® or "Baby Borg" to keep for themselves.

About the BorgWarner Championship Driver's Trophy
A one-of-a-kind replica of the Borg-Warner Trophy, the BorgWarner Championship Driver's Trophy is awarded each year to the winner of the Indianapolis 500. The sterling silver trophy is 14 inches high, weighs 5 pounds and rests on a beveled black marble base. The base is inscribed with the winner's name and year of victory, and includes a hand-crafted, bas relief sterling silver image of the winner, a duplicate of the image affixed to the full-sized Borg-Warner Trophy. BorgWarner established the driver's trophy in 1988 to provide the driver with a personal keepsake of their victory.

About The Borg-Warner Trophy
The Borg-Warner Trophy features the sterling silver image of every Indianapolis 500 winner dating back to Ray Harroun in 1911. Made of sterling silver, weighing 110 pounds and standing 5 feet, 4-3/4 inches tall, the trophy originally cost $10,000 and is currently valued at $3.5 million. The Borg-Warner Trophy stays on permanent display at the Indianapolis Motor Speedway Museum.

About BorgWarner
BorgWarner Inc. BWA is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 67 locations in 19 countries, the company employs approximately 29,000 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 Repot 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: 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