Delphi now plans to spin-off its automated driving division
Delphi Automotive PLC today announced that Aptiv and Delphi Technologies will be the names of the two highly-focused, publicly-traded companies that will result from the company’s previously announced spin-off of its Powertrain Systems segment.
The company made the announcement during its Investor Day in Boston, where it discussed the business strategies for both Aptiv and Delphi Technologies. The measure still needs to be approved, for that end a special meeting will take place on Tuesday, November 7, 2017 at 9:00 a.m. Eastern Standard Time.
“The names Aptiv and Delphi Technologies clearly reflect the independent identities, visions and directions of the two companies, each a global leader in its industry,” said Kevin Clark, Delphi president and chief executive officer.
Aptiv, comprises the Electronics & Safety and Electrical/Electronic Architecture businesses, will focus on accelerating the commercialization of active safety, autonomous driving, enhanced user experiences and connected services, providing the software, advanced computing platforms and networking architecture required to do so – the ‘brain’ and the ‘nervous system’ of the vehicle. Clark, will remain as CEO of Aptiv once the spin-off is completed.
The powertrain business will carry the name Delphi Technologies, leveraging the historical strength of the Delphi brand with core OEM and aftermarket customers, as it focuses on enabling advanced vehicle propulsion through combustion, software and controls and electrification.
“The entire Delphi Technologies organization is energized to move forward as a focused company.” said Liam Butterworth, who will become CEO of Delphi following completion of the spin, currently senior vice president and president of Powertrain.
The Powertrain division operates four production facilities in Mexico, located in the cities of Juarez, Chihuahua, Torreon and Saltillo.
– Delphi combines to technologies to boost engine efficiency up to 19%
– Delphi teams up with Innoviz to expand self-driving technologies
– Delphi’s net income boosts 42% in second quarter 2017
– Delphi creates independent Powertrain company; four Mexican plants involved