Posts Tagged ‘delphi automotive’

Delphi Spinning Off “Old Business” for EV, Autonomous Future

Supplier spinning off internal combustion portion of business.

by on May.04, 2017

Delphi is demonstrated the capability of its automated driving system by driving an Audi Q5 from San Francisco to New York City a while back.

Delphi Automotive, one of the automotive industry’s largest and most diversified parts suppliers, said it is preparing to spin off operations tied to internal combustion engines and focus on technology for electrically powered and self-driving vehicles.

“There’s a whole element of the componentry of the car that Wall Street values at a lower level,” Delphi Chief Executive Officer Kevin Clark told Reuters.

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The electronic Delphi – the part that remains – will compete in a potential market the supplier believes exceeds more than $100 billion annually. That twice as big as the current internal combustion segment, explaining the appeal of the “electronic” market. Delphi said its electronic systems units had about $12 billion in revenue last year. (more…)

Delphi, Mobileye Partner on Driverless Vehicle Tech

Partners want to have both fully autonomous and driverless vehicles on the road by 2019.

by on Aug.23, 2016

The first of the Delphi autonomous prototypes will be a modified Audi SQ5. Delphi and Mobileye will show off their new system at CES.

In the latest in a burst of announcements aimed at bringing fully autonomous, and even driverless, vehicles to market, automotive mega-supplier Delphi is teaming up with the high-tech Israeli firm Mobileye.

The two tech firms plan to show off their system during a preview at the Consumer Electronics Show in Las Vegas next January, and expect to have it ready for production as early as 2019. The news comes a week after Ford Motor Co. said it would begin building a fully driverless vehicle for use by car-sharing and delivery services in 2021.

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“Our partnership with Delphi will accelerate the time to market and enable customers to adopt Level 4/5 automation without the need for huge capital investments, thereby creating a formidable advantage for them,” said Amnon Shashua, chairman and chief technology officer at Mobileye. (more…)

Delphi Readies for Next Step in Autonomous Vehicle Development

Supplier bringing latest advancements to CES 2016

by on Dec.14, 2015

Delphi is revealing updates to its autonomous vehicle at CES that allow drivers to control cabin temps or radio stations with eye movements or hand gestures.

It’s not enough for a car or crossover to drive itself anymore apparently as Delphi Automotive is working on the next step in autonomous vehicles that can be controlled at the bat of an eyelash.

Well, it’s not quite that simple, but Delphi is bringing its self-driving vehicle to CES 2016, the show formerly known as the Consumer Electronics Show, in Las Vegas next month and it’ll be chock full of new abilities.

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The new functionality permits drivers to change the temperature inside the car as well as the radio stations with eye movements and hand gestures. In terms of what the “driver” sees, that person can create a customized three-dimensional instrument panel layout that can look like a 2016 Chevy Corvette or a ’60s era Ford Mustang. (more…)

Delphi Back on the S&P List

Back in good graces after decade of turmoil.

by on Dec.24, 2012

Seven years after a bankruptcy filing launched what became a sweeping reorganization – and the longest corporate run through the Chapter 11 process in American business history — Delphi Automotive is final returning to the good graces of Wall Street.

The auto parts manufacturer Delphi Automotive (US:dlph) will replace Titanium Metals Corp. in the S&P 500 index, S&P Dow Jones Indices said in a statement Tuesday evening.

The change will take place after the close of trading on Dec. 21, when Precision Castparts Corp. is expected to complete its acquisition of Titanium Metals.

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Delphi, which assumed control of a substantial portion of General Motors’ in-house parts empire in 1999, filed for bankruptcy in 2008 as its struggled with an unwieldy cost structure built around traditional union contracts that had been undercut and rendered unsustainable by the rapid globalization of the auto industry.


GM Selling Off Delphi Stake

Federal pension fund also selling off stake, leaving hedge funds in control.

by on Mar.31, 2011

Delphi CEO Rodney O'Neal.

Putting further distance between it and its one-time parts subsidiary, General Motors will sell off its stake in the massive automotive supplier Delphi.

The $3.8 billion deal will be paired with the sell-off of the stake in Delphi held by the federal Pension Benefit Guarantee Corp.  Both GM and the PBGC received their shares in the supplier following its emergence from bankruptcy protection in mid-2009.

Those moves will leave control of Delphi Automotive in the hands of the hedge funds that also took a stake in the supplier as it wrapped up what was the longest run through Chapter 11 in U.S. industrial history.

The decision to sell off its Delphi holdings comes just weeks after GM also generated $1.0 billion through the sale of its preferred holdings in Ally Financial, the lender once known as GMAC.  The Ally transaction will generate a one-time gain of $300 million, while GM will book a $1.6 billion profit from the sale of its Delphi shares.

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“We are systematically delivering on our commitment to strengthen and simplify our balance sheet,” said Dan Ammann, GM senior vice president and chief financial officer as of April 1.

Officially known as Class A Membership, GM took its stake in the supplier as part of the complex financial package that helped Delphi finally get back to business after it voluntarily plunged itself into bankruptcy in 2005.