 | |
| Formerly | Delphi Automotive plc (2011–2017) |
|---|---|
| Company type | Public |
| ISIN | JE00B783TY65 |
| Industry | Automotive |
| Founded | 1994; 31 years ago (1994) |
| Headquarters | Schaffhausen, Switzerland[1] |
Key people | Kevin P. Clark (chairman andCEO) |
| Products | Vehicle electronics, systems, modules, and components |
| Revenue |  US$19.71 billion (2024) |
 US$1.852 billion (2024) | |
| US$1.787 billion (2024) | |
| Total assets | US$23.46 billion (2024) |
| Total equity | US$8.993 billion (2024) |
Number of employees | 141,000 (2024) |
| Website | aptiv |
| Footnotes / references [2] | |
Aptiv PLC is anIrish-American[3][4] automotive technology supplier with headquarters inSchaffhausen, Switzerland.[1] Aptiv grew out of the now-defunct American company,Delphi Automotive Systems, which itself was formerly a component ofGeneral Motors.[5]
The company was established as General Motors' Automotive Components Group in 1994, which changed its name to Delphi Automotive Systems in 1995.[6] G.M. also renamed the various divisions within the newly created Delphi unit. Packard Electric became Delphi Packard Electric Systems; Delco Chassis became Delphi Chassis Systems; Inland Fisher-Guide became Delphi Interior and Lighting Systems; Saginaw became Delphi Saginaw Steering Systems; Harrison Radiator became Delphi Harrison Thermal Systems, and AC Delco became Delphi Energy and Engine Management Systems.[7]
Delphi disclosed some irregular accounting practices in 2005. Many executives, including CFO Alan Dawes, resigned. Delphi ChairmanJ.T. Battenberg retired. Delphi then filed forChapter 11 bankruptcy protection to reorganize its struggling U.S. operations.[8] As a result of this action, theSecurities and Exchange Commission granted an application by theNew York Stock Exchange todelist Delphi'scommon stock andbonds.[9]
Plants inPuerto Real,Cádiz, Spain, closed, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs in February 2007,[10] despite having agreed to continue its manufacturing operations until 2010 and receiving more than€25 million from various public administrations to guarantee its workers' jobs.[11] TheRegional Government of Andalusia announced it would begin legal action against the company for breach of local labor laws.[12]
Delphi sued its investors for US$2.55 billion in securities to aid Delphi as it sought to come out ofbankruptcy in May 2008. U.S. Bankruptcy Judge Robert Drain inNew York allowed Delphi to seek payments through a contract againstAppaloosa Management LP as well as denying an investors' request for a cap of $250 million for damages.[13] In April 2009, CoolIT Systems announced the acquisition of the assets of Delphi Thermal Liquid Cooling, including intellectual property, machinery, and equipment.[14][15]
A group of private investors purchased Delphi's core assets to create a new Delphi Corporation in October 2009. Some of its non-core steering operations were sold toGeneral Motors Company, the successor to the bankruptMotors Liquidation Company that was formerly General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation.[16] The new Delphi was incorporated in theUnited Kingdom.[17]
Delphi sold its Thermal Business unit to Mahle-Behr GmbH in July 2015. Together, the Mahle-Behr and Delphi Thermal merger represented the second-largest supplier of automotive thermal management systems including interior HVAC components, under-hood powertrain cooling and compressors.[18] The company announced improvements to self-driving technology under development in December 2015.[19] In the same month, Delphi boughtHellermannTyton for $1.7 billion.[20]
Delphi entered into a partnership agreement withCarbon in June 2016 to allow the use of Carbon'sContinuous Liquid Interface Production technology and printers.[21] The company then bought the self-driving startupNuTonomy for $450 million in October 2017.[22]
The company divested its powertrain division and aftermarket related businesses (nowBorg Warner'sDelphi Technologies division) in December 2017 and changed its name toAptiv PLC.[23] In August 2019, Aptiv andHyundai Motor Group announced plans to establish a $4 billion autonomous driving joint venture[24] in which the firms would each have a 50% stake. The companies said the joint venture, which would have its headquarters in Boston, would focus on advancing the “design, development and commercialization of SAE Level 4 and 5 autonomous technologies.” The joint venture deal was completed in March 2020 and was namedMotional in August 2020.[25]
In January 2021, Aptiv revealed a new platform for automated driving that can be applied on various vehicles and that carmakers can upgrade wirelessly.[26]
On 11 January 2022, Aptiv announced that they had acquiredWind River Systems, a company known for its development of real-time operating systems.[27]
As of December 2020[update], Aptiv has two diversified business segments:[2]
On 4 March 2005, Delphi said it had fired its CFO and would restate earnings between 1999, when Delphi spun off from General Motors Corp (GM), and 2004 for improper reporting of rebates, credits, or other payments from suppliers.[28] In June, 2006, Delphi said in a filing that it would restate its 2005 report, which would increase Delphi's reported 2004 net loss by $65 million. In 2013, Delphi became involved in an ongoing lawsuit against GM, because it manufactures ignition switches for the Chevrolet Cobalt, whose original design is alleged to be defective.[29]
In 2009, as a result of its bankruptcy agreement, "Delphi surrendered its pension obligations to thePension Benefit Guaranty Corporation." A group of about 20,000 salaried employees, principally inOhio,Michigan,New York andIndiana, have been involved in litigation since then seeking restoration of their full pension rights.[30][31]
Researchers at theUniversity of Massachusetts Amherst allegedly identified Delphi corp. as the 21st-largest corporate producer ofair pollution in the United States in 2002.[33] According to the study, the manufacturer's most toxic emissions includedasbestos (542 lb/yr),chromium compounds (1,082 lb/yr),lead compounds (8,466 lb/yr), andsulfuric acid (17,600 lbs/year), while the most massive emissions wereglycol ethers (111,520 lbs/year) andhydrochloric acid (80,000 lb/yr).[34]
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