Delphi to spin-off powertrain business

4 May 2017

Delphi Automotive announced plans to spin-off of its Powertrain Systems segment into a new, independent publicly traded company, and to focus its core business on technology for electrically powered and self-driving vehicles. The transaction is expected to be completed by March 2018. Delphi shareholders will own shares of both companies.

Upon completion of the transaction, Delphi Automotive with its Electrical/Electronic Architecture and Electronics & Safety businesses will remain global technology suppliers with strengths in signal and power distribution, centralized computing platforms, advanced safety and autonomous driving systems, enhanced infotainment and user experience, vehicle connectivity and electrification, and data services. The company has 15,000 engineers and 145,000 global employees.

The Powertrain company will be a global technology supplier to original equipment manufacturers and aftermarket customers, focused on optimizing vehicle propulsion systems by enhancing environmental efficiency and vehicle performance. The company, with 5,000 engineers and 20,000 global employees, had revenues of approximately $4.5 billion in 2016.

Powertrain’s portfolio of advanced propulsion technologies benefits from increasingly stringent regulatory standards and consumer demands for increased fuel economy and reduced CO₂ emissions, said the company.

Source: Delphi