- Josef Newgarden's name added
to the prestigious list of Indy 500 victors
- Newgarden beat defending champion Marcus Ericsson in fourth closest finish in Indy
500 history by 0.974 seconds
- BorgWarner's Engineered for Racing (EFR™) turbochargers
featured on all NTT INDYCAR SERIES© racecars since
2012
AUBURN
HILLS, Mich., May 29, 2023
/PRNewswire/ -- After crossing the finish line at the 2023
Indianapolis 500 at the Indianapolis Motor Speedway (IMS) in the
fourth closest finish in Indy 500 history, Josef Newgarden was crowned the winner of the
107th Indianapolis 500 and awarded
the Borg-Warner Trophy® by BorgWarner President and CEO,
Frédéric Lissalde. Newgarden raced for Team Penske, leading only 5
out of 200 total laps, at an average speed of 168.193 mph.
Newgarden crossed the finish line 0.974 seconds in front of
defending Indy 500 winner Marcus
Ericsson from Sweden, with
American Santino Ferrucci finishing
3rd. The race featured three stoppages – red flags – in
the last 17 laps, with the final lap starting directly from a
yellow flag. Newgarden and Ericsson battled at each turn.
In recognition of his win, Newgarden's face will be the
110th added onto the sterling silver Borg-Warner Trophy,
which is 110 pounds and measures 5 feet and 4 inches tall. This
victory marks the 19th Indy 500 win for Team Penske,
dating back to 1972 when Mark
Donohue was the victor.
"BorgWarner is honored to present Josef
Newgarden the Borg-Warner Trophy as the victor of the 2023
race," said Lissalde. "Each year, BorgWarner looks forward to
playing a vital role in the iconic Indianapolis 500 and handing over this trophy
steeped in history to the driver who displayed the highest degree
of excellence and performance – key drivers that resonate with our
company's core values and reputation."
Newgarden, a native of Nashville,
Tennessee, USA, earned his first Indy 500 win in his
12th start after starting in the 17th spot.
He ties Sam Hanks, who won in 1958,
for the most starts for a first-time champion.
The historic Borg-Warner Trophy has been presented to each Indy
500 winner for 87 years, first debuted by Eddie Rickenbacker, previous owner of IMS, in
1936. Commissioned the year prior, the trophy was designed by
Robert J. Hill and Spaulding-Gorham, Inc. of Chicago, and continues to serve as a symbol of
success in the racing world today.
Beyond presenting the trophy, BorgWarner has a long-established
relationship with the Indy 500 race. BorgWarner's Engineered for
Racing (EFR™) turbochargers have powered every NTT INDYCAR SERIES®
vehicle since 2012. The EFR turbochargers have the capability to
accelerate to over 200 mph throughout the race, providing unmatched
levels of power and speed. This year, BorgWarner also collaborated
with IMS on co-branded Borg-Warner Trophy merchandise, available
exclusively through Legends, the official retail partner of INDYCAR
and IMS.
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.
The Borg-Warner Trophy, BorgWarner Championship Driver's Trophy,
and BorgWarner Championship Team Owner's Trophy are trademarks of
BorgWarner Inc.
Forward-Looking Statements: This press release contains
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 press 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 press 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; our ability to
effect the intended tax-free spin-off of our Fuel Systems and
Aftermarket segments into a separate, publicly traded company on a
timely basis or at all; the potential that uncertainty during the
pendency of the spin-off transaction could affect our financial
performance; 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 under 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 press release to reflect any change in our expectations or any
change in events, conditions, circumstances, or assumptions
underlying the statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/borg-warner-trophy-awarded-to-2023-indianapolis-500-winner-josef-newgarden-301836769.html
SOURCE BorgWarner