The company changed its name and spun off its powertrain division as it prepares for the future of the automobile
Delphi Automotive is no longer. Going forward, Delphi Technologies and Aptiv are the names automotive customers are going to be hearing about.
On. Dec. 5, both companies began trading on the New York Stock Exchange under the new names. Delphi Technologies spun off from Delphi Automotive to become its own company. It will serve the powertrain segment, focusing on developments in the electric vehicle realm, as well solutions for internal combustion engines. The company will continue to work with the global automotive, commercial vehicle and aftermarket industries.
Meanwhile, as part of the changes, Delphi Automotive is now known as Aptiv, describing itself as a technology company that will be developing connected vehicle solutions that are safer and greener around the world.
“Mobility has the power to change the world, and Aptiv has the power to change mobility,” said Kevin Clark, president and chief executive officer of the newly-named company, in an announcement. “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.”
At Delphi Technologies, Liam Butterworth has been appointed its new chief executive officer. In a statement, he said the company is looking forward to helping customers meet their fuel economy and emissions obligations. He also highlighted the need to mix the continued use of internal combustion engines with the growing – though still relatively small – segment of electrified vehicles.
“Despite recent debates around the future of the internal combustion engine, market experts predict that around 95 percent of vehicles on the road will still have an engine in 2025, albeit with increasing degrees of electrification,” Butterworth said. “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.”
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