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Aptiv AI simulator
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Aptiv AI simulator
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Aptiv
Aptiv PLC is an American automotive technology supplier with headquarters in Schaffhausen, Switzerland. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
The company was established as General Motors' Automotive Components Group in 1994, which changed its name to Delphi Automotive Systems in 1995. 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.
Delphi disclosed some irregular accounting practices in 2005. Many executives, including CFO Alan Dawes, resigned. Delphi Chairman J.T. Battenberg retired. Delphi then filed for Chapter 11 bankruptcy protection to reorganize its struggling U.S. operations. As a result of this action, the Securities and Exchange Commission granted an application by the New York Stock Exchange to delist Delphi's common stock and bonds.
Plants in Puerto Real, Cádiz, Spain, closed, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs in February 2007, 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. The Regional Government of Andalusia announced it would begin legal action against the company for breach of local labor laws.
Delphi sued its investors for US$2.55 billion in securities to aid Delphi as it sought to come out of bankruptcy in May 2008. U.S. Bankruptcy Judge Robert Drain in New York allowed Delphi to seek payments through a contract against Appaloosa Management LP as well as denying an investors' request for a cap of $250 million for damages. In April 2009, CoolIT Systems announced the acquisition of the assets of Delphi Thermal Liquid Cooling, including intellectual property, machinery, and equipment.
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 to General Motors Company, the successor to the bankrupt Motors Liquidation Company that was formerly General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation. The new Delphi was incorporated in the United Kingdom.
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. The company announced improvements to self-driving technology under development in December 2015. In the same month, Delphi bought HellermannTyton for $1.7 billion.
Delphi entered into a partnership agreement with Carbon in June 2016 to allow the use of Carbon's Continuous Liquid Interface Production technology and printers. The company then bought the self-driving startup NuTonomy for $450 million in October 2017.
Aptiv
Aptiv PLC is an American automotive technology supplier with headquarters in Schaffhausen, Switzerland. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
The company was established as General Motors' Automotive Components Group in 1994, which changed its name to Delphi Automotive Systems in 1995. 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.
Delphi disclosed some irregular accounting practices in 2005. Many executives, including CFO Alan Dawes, resigned. Delphi Chairman J.T. Battenberg retired. Delphi then filed for Chapter 11 bankruptcy protection to reorganize its struggling U.S. operations. As a result of this action, the Securities and Exchange Commission granted an application by the New York Stock Exchange to delist Delphi's common stock and bonds.
Plants in Puerto Real, Cádiz, Spain, closed, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs in February 2007, 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. The Regional Government of Andalusia announced it would begin legal action against the company for breach of local labor laws.
Delphi sued its investors for US$2.55 billion in securities to aid Delphi as it sought to come out of bankruptcy in May 2008. U.S. Bankruptcy Judge Robert Drain in New York allowed Delphi to seek payments through a contract against Appaloosa Management LP as well as denying an investors' request for a cap of $250 million for damages. In April 2009, CoolIT Systems announced the acquisition of the assets of Delphi Thermal Liquid Cooling, including intellectual property, machinery, and equipment.
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 to General Motors Company, the successor to the bankrupt Motors Liquidation Company that was formerly General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation. The new Delphi was incorporated in the United Kingdom.
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. The company announced improvements to self-driving technology under development in December 2015. In the same month, Delphi bought HellermannTyton for $1.7 billion.
Delphi entered into a partnership agreement with Carbon in June 2016 to allow the use of Carbon's Continuous Liquid Interface Production technology and printers. The company then bought the self-driving startup NuTonomy for $450 million in October 2017.