Delphi Automotive spins off powertrain segment; Aptiv created for technology solutions
Formerly known as Delphi Automotive, Aptiv PLC has been created as the spinoff of Delphi's powertrain segment has completed. Apitv is described as a technology company "that develops safer, greener, and more connected solutions." The powertrain segment has now become Delphi Technologies PLC.
"Mobility has the power to change the world, and Aptiv has the power to change mobility," said Kevin Clark, President and Chief Executive Officer. "Aptiv is built on a strong foundation of industry firsts, and has the knowledge, capability, and agility to win with traditional OEM customers and emerging mobility players. It is a remarkable time to be in our industry, and we are very confident about our future."
Aptiv is working on software and vehicle architecture to enable advanced safety, automated driving, user experiences, and connected services. The company will formally unveil its portfolio of new mobility solutions at the Consumer Electronics Show (CES) in Las Vegas.
As a result of the spinoff, Delphi Technologies became a $4.5 billion independent company trading on the New York Stock Exchange.
"We are extremely well positioned to assist our customers worldwide to meet increasing regulatory demands around fuel economy and emissions," said Liam Butterworth, newly appointed Chief Executive Officer, Delphi Technologies. "We are paving the way towards full electrification with our comprehensive technology portfolio, best-in-class cost structure, and a balanced geographic manufacturing footprint with 20 manufacturing facilities and 12 technical centers on three continents."
Delphi Technologies' 5,000 engineers will focus on solutions for electric vehicles and internal combustion engines for both the passenger car and commercial vehicle markets, while also meeting future demands for vehicle repair through its extensive global aftermarket network.
"Despite recent debates around the future of the internal combustion engine, market experts predict that around 95% of vehicles on the road will still have an engine in 2025, albeit with increasing degrees of electrification," said Butterworth. "This means we have the opportunity to make significant step changes in vehicle performance on the way to a fully electric market. We continue to innovate in this space, which will include electrified vehicles with both gas and electric systems such as mild and full hybrid solutions."
Delphi Technologies will present its new brand at the Consumer Electronics Show (CES) in January, 2018 in booth #7512 in the North Hall.