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Delphi Spins Off, Renames Self-Driving Car Efforts as Aptiv
Delphi鈥檚 self-driving car efforts will go by a new name, the company announced Sept. 27.
The company is spinning off its high-tech initiatives including autonomous driving, connected vehicles and advanced software, computing and electronics and creating a new business, Aptiv.
The company鈥檚 powertrain business will be known as Delphi Technologies. The two companies will have different CEOs, and both will be publicly traded.
鈥淭he vehicle has evolved and so have we,鈥 said Kevin Clark, Delphi鈥檚 CEO. 鈥淲e have expanded upon our heritage of industry firsts with advanced software capabilities and deep systems integration expertise, enabling us to develop intelligent solutions to meet mobility鈥檚 toughest challenges. The future demands executional excellence, and this is where Aptiv thrives. The name 鈥楢ptiv鈥 reflects knowledge, adaptiveness and drive, as well as an ability to not only envision the future, but to make it real.鈥
Clark will be the CEO of Aptiv. Liam Butterworth, currently head of Delphi鈥檚 powertrain division, will lead Delphi Technologies. The company expects the split to be completed by March.
